Source Name: Tata Consultancy Services Ltd.

TCS Launches Peer-to-Peer Mobile Payment Solution with DNB, a Leading Bank in Norway

25% of Norway’s population using ‘Vipps’, the DNB P2P solution within 6 months of launch

Mar 16, 2016 17:59 IST

Mumbai, Maharashtra, India

Tata Consultancy Services (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization announced the successful launch of Norway’s first peer-to-peer mobile payment solution with DNB, the largest financial services group in Norway.

Dubbed “Vipps”, DNB’s peer-to-peer mobile payments application is not just for account holders of DNB, but can be used by any consumer. With 25% of Norway’s population using ‘Vipps’ within six months of launch, the P2Ppayment solution has helped DNB become a significant player in the highly competitive mobile payments space in a short span of time. Moreover, 85% of Norwegians know about the P2P payments platform and it is the #1 downloaded app in Norway.

The core of mobile solution, created by TCS is its easy operability as a safe and secure payment option. Vipps makes mobile payments as simple as sending a text message and is available for use on all mobile devices. Another key feature is that it allows short chat messaging between the users.

“We gave TCS a challenge, and they reacted quickly. For us, the project has demonstrated that TCS is a trustworthy partner with good focus on strategic business value. As DNB’s digital partner, TCS has shown strong customer focus. TCS has led the project with first class technical expertise and great stamina” said Liv Fiksdahl, Group Executive Vice President and Head of IT & Operations in DNB.

Susheel Vasudevan, Vice President, Banking and Financial Services, TCS, said, “Globally, the banking industry is being shaped by evolving customer needs and changes in customer behavior. Our deep domain knowledge combined with an understanding of consumer behavior in the context of digital technologies helps us to partner with DNB, a leading banking Norway, to transform mobile and peer-to-peer digital payments space as part of an overall digital transformation effort."

About Tata Consultancy Services Ltd (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS,infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 344,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $15.5 billion for year ended March 31, 2015 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.