Finance

Credit Card transactions have two stages. The first is Authorization. The second is Clearing and Settlement. Authorization is the process of approving or declining a transaction before it is finalized. Clearing is the process of delivering final transaction data from the acquirer to the issuer for posting to the cardholders account, the calculation of fees and charges to be applied to the acquirer and issuer involved in the transaction and the conversion of transaction amount to the appropriate settlement currencies. Settlement is the process of calculating, determining and reporting the net financial position of our issuers and acquirers for all transactions that are cleared.

Tarang is a leader in software development in Payment Transactions. The transactions between the acquirer and issuer through a processor happen through complex message formats. Tarang provides generic formatters and custom adapters to build these interfaces.

Card Associations launch new products from time to time. Tarang provides components and reusable software that will speed up new product introductions.

Tarang brings huge expertise in certifications. Card Associations need payment companies to have their products certified at periodic intervals by completing all the tests within a specific time window. Tarang is a solid Certification Testing partner for Card Associations and the member companies.

The move from cash/check to card based payments means that a wider range of payment types are now accepted by retailers. The POS industry is predominantly being driven by EMV security specifications and the resultant move from magnetic to smart cards. In tandem with this, new services that are emerging to provide additional revenue streams including loyalty, gift cards etc, payment at vending machines etc.

Tarang is King of the POS world. We work with all leading manufacturers and have set up Offshore Development Centers for them. We have full knowledge of their Software Development Kits (SDKs) and Terminal environments. Tarang has a Terminal Laboratory where we have models of most leading manufacturers.

Tarang's range of payment solutions for unattended, outdoor and self-service environments, cater to the needs of retailers and merchants that wish to take advantage of emerging transaction types such as ATM functionality, gift cards, payment at the pump and vending payments.

Tarang also offers embedded firmware Development to POS Terminal manufacturers. This can be used to build next generation Terminal firmware and modem device drivers.

Tarang offers Call Centers for Customer Service to support POS installations.

Payment Processors provide a valuable service to retailers by enabling them to accept multiple payment types including EFT, credit, debit and even electronic gift cards. In a continuous cycle of innovation, as consumers move away from cash based payments, service providers are providing payment acceptance to more and more retailer types, using multiple payment instruments. Micropayment at internet music sites, chip secured unattended payments at fuel pumps, and multi-channel mobile top-up are some of the areas where service providers are helping retailers to realize the benefits of a shared payment infrastructure.

Tarang provides off-the-shelf solutions to Payment Processors. Some of these are:

Tarang Merchant Transaction Gateway - This enables secure, reliable, real-time card processing in multiple currencies, supports multiple card types (credit, check cards, PIN-less debit, etc.) and can be linked to work across multiple banks and processors, worldwide.

Tarang Mobile Top Up - This solution enables mobile subscribers to recharge their prepaid mobile airtime online, directly through the internet , SMS or IVR service.

In addition, Tarang offers multiple service packs in a variety of areas. Some of these are:

• Connectors (ISO 8583 and custom) to various processors
• Fraud Management Solutions
• Merchant Boarding Solutions
• Verified By Visa and Master Card 3D Secure implementations
• Interchange Fees calculator