InfrasoftTech launches digital banking solution for contactless payments

InfrasoftTech today launched QRys (read as Curious), a product that simplifies contactless payments using QR codes and NFC enabling card-less payments with high security. This product provides one click card-less payments for purchases at e-tailing sites or retail outlets alike, hence keeping the control of payments authorization in the hands of the consumers (clients of the banks). QRys can also be used for card-less ATM cash withdrawals and related services.

Additionally, InfrasoftTech also launched the “Digital Lounge’ at their office in Andheri East, Mumbai. The lounge showcases various digital solutions designed by InfrasoftTech that enable their client Banks to gain a competitive edge using digital channels and advanced analytics to run an agile enterprise.

Speaking at the launch, the Guest of Honour, S Karuppasamy, Former ED - RBI said, “I am happy to inaugurate the digital lounge where the showcased solutions have the potential to bring smaller banks on a level playing field with large banks by leveraging the power of digital technology and the cloud. I feel it is important that these modern solutions are rightly priced so that the smallest of the banks can adopt secure and reliable payment channels for their clients who in turn can render last mile access to their customers across rural outlets.”

Dr. Barman, Former ED - RBI said, “It was a pleasure to see how NPCI has enabled a payments backbone that is ensuring India stays ahead of many countries in providing an infrastructure that enables payments to the various strata of society across geographies. I truly appreciate InfrasoftTech’s innovative approach in the development of applications on E-Payments and BI for BFSI sector and I am positive that these solutions will bring great value to larger masses.”

Rajesh Mirjankar, Managing Director & CEO of InfrasoftTech said, “We are pleased to dedicate this facility to our client banks to visualize how modern digital banking solutions can enable them to provide mobile enabled payment solutions both as card-less payments and card based payments. We believe that with the launch of QRys, financial institutions can now offer a cost-effective and secure mode of contactless payment not only in the urban areas but also to rural masses. It is imperative that banks will have to adopt digital solutions to grow their business with the Generation Now and Generation Y. If they fail to respond, the new banks and Fintech firms can disrupt their business to a large extent within 2-3 years. We have seen increasing acceptance & interest in digital banking technologies, with three large Public sector banks and several other private and regional banks selecting InfrasoftTech’s mobile banking solution in past one year. Our endeavour is to enable Banks and Fintech firms with digital solutions that will drive their outreach to clients which truly provides a win-win scenario for consumers”.