NPCI has selected Bangalore-based Transaction Analysts (India), a RBI-licensed payment system prepaid operator, as its implementation partner for new products. The company would provide payment systems domain experienced professionals during contract period for implementation of new products. The company has worked closely with NPCI in implementing LTS/TVS functionality in bank switches which has considerably reduced the charge back on ATM transactions, thereby enhancing the customer confidence in the ATM network and also saving the cost from processing the disputes. Srinivasa Katuri, MD &CEO of the company, said prepaid cards, smart cards and mobile wallets are still in a very nascent stage in the country and the company will make use of its core expertise to ensure that the cash economy gets reduced thereby reducing leakages, improving transparency and convenience and increasing the overall efficiency of the financial system in India.
