The Transformation of the Payments Industry

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1 The Transformation of the Payments Industry The payments industry has undergone a radical transformation in a relatively short amount of time. Two decades ago, consumers primarily paid cash for goods and services at establishments they visited in person. Today, they use an increasing number of payment instruments in a global online marketplace that never sleeps. This means payment providers are required to deliver more and more functionality across continuously available, highly secure networks served by legacy systems in regulatory environments that have grown increasingly complex. And, in these challenging economic times, the rate of change is accelerating as more disruptive technologies and payment methods are adopted around the world to address market needs. Finding custom software development partners with the necessary payments expertise to meet these demands is difficult. Many operate across multiple vertical markets deploying tens of thousands of generalists to drive their business model. While they may have a financial services emphasis, it is usually broad, covering everything from insurance companies to brokerages and banks. Few, if any, have a history in the payments industry that includes the experience necessary to understand its complexity. In today s marketplace, leading payments providers cannot afford to invest time and money to educate inexperienced resources. That is why leading payment companies turn to RS Software. RS Software has focused exclusively on the payments industry since its inception. No other custom software provider delivers more industry-specific knowledge and experience to clients competing for market share in the payments space. 1

2 RS Software: 20 Years of Payment Expertise RS Software was founded in 1991 to provide customized software solutions to the payments industry. Since that time, we have built a client list that includes the world s leading payment brands. Today we are an organization of over 1,000 people with unmatched expertise in the payments space. More than 95 percent of our company s revenues come from providing services to financial institutions, payment network providers, payment processors and software companies providing products to the payment industry. We have successfully completed thousands of projects in dozens of countries delivering operational efficiencies and attractive price performance. RS Software understands today s payment environment because it has participated in its evolution. This expertise has helped its clients address the convergence of payment types, the proliferation of mobile devices, the move to cloud computing and the introduction of new strategies, such as behavioral targeting. We have built solutions to support the introduction of new standards such as EMV and new technologies such as mobile and contactless payments while mitigating the pain and cost associated with the legacy systems supporting them. Through it all, RS Software has kept its emphasis on availability, scalability and security providing solutions for environments that have the capacity to process billions of secure transactions a year at speeds of more than 11,000 tps. 2

3 The RS GEM The RS Global Execution Methodology (RS GEM ) incorporates our experience from customer engagements, association with industry thought leaders and work with the emerging trends in payments. The following components comprise the RS GEM : These three elements of the RS GEM work together to ensure that the domain expertise we have gained from hundreds of customer engagements and our association with industry thought leaders for more than two decades can be delivered to our clients in a replicable, scalable fashion. The RS School of Payments maximizes productivity and minimizes learning curves through a knowledge management system that focuses on the business functions, technologies and strategies specific to the payments industry. Our employees participate in core and advanced curriculum units created by our industry veterans and subject matter experts to gain the educational foundation required for them to deliver maximum value to our clients throughout the project lifecycle. The RS Project Delivery Framework is a proven, process-oriented structure used for clients around the world, no matter how big or small the project. Our project managers are certified by the Project Management Institute and have the experience required to enable clients to meet their performance objectives. Our focus on and work in the industry helps us understand how best to achieve what the client needs in the amount of time required within the budget set. The RS Customer View provides us with a comprehensive understanding of each client s business including their target market, scale of operation, management goals, growth objectives and corporate values. Using this information with our global sourcing model and knowledge transfer disciplines ensures that RS Software s cross-culture experience produces maximum value for the customer from start to finish. Internally, we promote a philosophy of Thinking of Yourself as the Customer to serve as a foundation for this facet of the RS GEM. 3

4 The RS Software Services Portfolio RS Software delivers the following wide range of services developed and customized for the payments industry landscape: Custom Application Development We offer application lifecycle management for platform, cloud, ecommerce and mobile environments using a comprehensive spectrum of development tools and methodologies including SSAD/OOAD, classic/relaxed waterfall, classic/relaxed spiral, RUP and agile. Quality Assurance and Testing We provide standard, specialized and automated offerings including integration, system, regression, performance, smoke, stress, security and certification testing. Application Maintenance and Support We deliver application and platform migration, reverse engineering, performance tuning and 24x7 production and help desk support with follow the sun coverage to our clients. Strategic Consulting Using our experience in the payments industry, we help clients improve their technology and business alignment. We conduct gap analyses, build remediation plans and develop the roadmaps for our customers designed to improve their return on investment. RS Software maintains the highest standards for compliance, security and quality including the ISO 9001:2008, SEI-PCMM Level 3 and ISO 27001:2005 Information Security certifications. 4

5 The RS Payment Lab: Foundation for Innovation RS Software serves the needs of the leading organizations in the payments industry. We are specialists in credit, debit, prepaid and loyalty card processing and management. We have developed state of the art solutions for payment gateways, merchant reporting, merchant on-boarding, residual management, data warehousing, data analysis and business intelligence. In the RS Payments Lab, we have created a framework around each of these solutions. Each framework contains the organizational knowledge we have accumulated that is relevant to the functional area. The accessibility and repeatability of each framework reduces time to market for our clients. In the RS Payments Lab, our subject matter and industry experts also focus on emerging technologies that our clients need to be competitive. Our work with contactless, chip and mobile payment technologies as well as our evaluation of the impact of new standards, such as EMV, and new technologies, such as cloud computing, start in the RS Payments Lab and then are incorporated into our overall service offerings. Why RS Software? Financial institutions, payment network providers, payment processors and software companies providing products to the payment industry need a development partner who understands the complexities of their industry. RS Software is the leading custom software development house for the payments industry. With more than 20 years in the payments industry, we have participated in and helped create the products and services that have transformed this marketplace. Our proven methodologies, comprehensive set of services and continuing innovation are focused specifically on the needs of the space we have served exclusively since we opened our doors in No other provider in our space can deliver more industry knowledge and experience. 5