Companies join to deliver solutions that address complexities of payments landscape
HOLLY SPRINGS, N.C., Jan. 11, 2017 – Paragon Application Systems (Paragon), the financial services industry’s leading provider of next generation testing solutions, today announced that it has partnered with RS Software India Limited, a provider of digital payment technology solutions that builds payment infrastructure for countries all across the globe and helps businesses transition from legacy to digital payments. The alliance addresses the growing demand for testing solutions that provide better automation and more comprehensive code coverage, enabling financial services providers to avoid the hefty cost and risk associated with legacy testing tools.
Paragon provides a suite of testing solutions that automates and virtualizes end-to-end testing of payment systems and ATM networks. These solutions equip organizations to deploy a testing platform that optimizes existing legacy testing assets and frees testing professionals from manual, repetitive tasks. RS Software’s expertise in deploying solutions within high performance, high availability networks will enhance Paragon solutions by adding the knowledge and support required to address specific needs.
“The payments landscape has grown increasingly more complex over the past decade,” said Jim Perry, CEO of Paragon. “A steep increase in the number and variety of endpoints, an expanding number of consumer devices and payment apps, the rising expectation of ‘always-on’ availability and increased levels of regulatory scrutiny have all contributed to that fact. However, the testing methodologies used to ensure these payment systems remain available whenever and wherever they are needed have not kept pace with these changes. It’s created a glaring discrepancy that we aim to correct.”
The ongoing cost pressures and accompanying expectation to do more with less have been the primary contributors to the testing challenges financial services providers face. Organizations find themselves addressing more intricate payments testing needs with higher stakes and a leaner workforce. In addition, rapid innovation and competitive pressures in the marketplace are driving the need to deliver new products and services more quickly and with higher quality.
Raj Jain, chairman of RS Software, said, “Testing is critical to all software applications, and even more so for payments that impact consumers’ everyday lives. The majority of payments testing today involves quality assurance staff manually running isolated tests using desktop tools located in physical labs. Because this manual method forces testers to conduct a wide array of tests in an attempt to locate critical errors – something akin to shooting in the dark at times – often only around 20 percent or less of the desired scenarios are actually tested, leaving entirely too much to chance. With our partnership with Paragon, we will strive to increase code coverage and improve the way testing is conducted for organizations across the globe.”
About RS Software (India):
RS Software India Ltd. is a digital payments focused solution provider to the electronic payments industry, operating in four continents with its US headquarters in Silicon Valley, corporate headquarters in Kolkata, India and offices in the United Kingdom and Singapore. RS Software has been in business for more than twenty-five years providing solutions to leading payments brands around the world including payment networks, processors, acquirers, issuers, and ISOs. RS Software has built solutions for the introduction of new standards such as EMV and emerging payment areas like mobile and contactless payments, while enhancing the ability of its clients to manage their legacy systems. RS Software is now engaged in building country level digital payment infrastructure as well. The domain focus makes RS Software a partner of choice for its customers and an employer of choice for its employees. www.rssoftware.com
Paragon Application Systems is the leading independent provider of simulation, configuration, certification and end-to-end testing solutions for the financial services industry. Paragon’s solutions have enabled more than 600 financial institutions, major interchanges, software providers and payment processors across 90 countries to improve their quality and reduce time to market. The company has a 90+ percent customer retention rate providing software and services that allow organizations to deliver the services their customers need when they need them. Visit www.paragonedge.com for more information, and follow our blog at www.testingrevolution.com/blog.
Click here to download Paragon’s complementary whitepaper outlining seven key capabilities of next generation payments testing solutions to learn more.