Monday, June 23, 2008

Saudi firm gives software solution order to Bangalore developer

Source : Click

Saudi Arabia's leading point-of-sales (PoS) solutions provider Intersoft will outsource its retail software solution to Bangalore-based Taranag Software to ensure secure payment transactions.

Tarang's retail software will enable Intersoft to achieve the Europay Mastercard Visa (EMV) integrated chip card standard, which is mandatory for any payment application on PoS/ATM, the companies said in a joint statement here Saturday.

Intersoft has also partnered with Tarang to develop and certify Span II application, the latest specification to implement EMV level two in Saudi Arabia.

'We found Tarang as our right outsourcing partner in the PoS and payments' space. We will leverage its domain expertise to sustain our leadership in the Gulf region,' Intersoft founder Ammar Al-Qadi said in the statement.

The Riyadh-based international firm specialises in retail, hospitality and banking PoS systems. It has built a strong clientele in the Saudi kingdom and the United Arab Emirates (UAE) by delivering customised electronic banking solutions.

The 17-year-old Intersoft was the first to introduce smart cards in Saudi Arabia by using SIM (subscriber identity module) in PoS terminals.

The $5-million Tarang is a leader in the electronics transactions (payments) domain, offering end-to-end business solutions, including PoS applications, payment gateways, mobile payment, contact-less payment interfaces, EMV and fraud management.

'The Intersoft contract reaffirms our leadership in payment technologies. EMV is the way to go for PoS solutions across the Gulf, India and Europe,' Tarang CEO V. Rama Kumar said.

Fortune 500 firms such as Verisign, Payment Data Systems, Card Services International and First Data Corp partner with Tarang for developing and deploying electronic payment and PoS systems for retail customers worldwide.