Logica India is working on a transactional model of payment systems for regional rural banks and cooperative banks in India.

“There are banks which do not have the budgets and income to buy payment systems. For them we would like to introduce a transaction-based model where banks would pay for the number of transactions routed through the system rather than for the system itself,” said Mr G B S Bindra, Global Director of Innovation & Marketing Director, Logica India.

Such a system would have to be hosted in the premises of a regional rural bank or cooperative bank, he said. This was because the banking sector is traditionally extremely conservative and would not trust a system which is in the premises of a third party.

Having the system hosted at one of the banks itself will overcome this problem. “We are presenting a paper to the banks on this,” said Mr Bindra.

The entire system will be a community cloud mode, he added.

Logica India is the Indian unit of Logica, a European business and technology service company that has a major thrust in payment solutions.

It recently launched a payments solutions ‘Logica Q-NG'.

This allows payment processing of various types – from RTGS, NEFT, batch mode payments, high care payments, credit card payments, high volume processing and so on.

It is also inter-operable with the enterprise which may have legacy systems and new generation systems such as mobile banking channels.

“Whatever be your payment type it is dealt with in a single consolidated manner,” said Mr Bindra.

Logica has three development centres in India — Chennai, Bangalore and Mumbai. Recently the company opened another office in Bangalore.

It has 6,000 people employed in India and plans to double its staff size over the next three years.

kripram@thehindu.co.in

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