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Transitioning to next-gen payment capabilities

With evolving customer demands and regulatory environment, payment infrastructure needs to be augmented with next-gen capabilities to enhance real-time payments, adopt contactless payments, and ensure the availability of a robust payment ecosystem. Banks and financial institutions must rejig the payment test function across various elements to transition to next-gen payment capabilities.

Some crucial aspects to be kept in mind while defining and executing the test strategy include:

Test transformation readiness: Set imperatives, priorities, and structures

Comprehensive impact view: Review target payment platform requirements with comprehensive impact and gap analysis

Fit-for-purpose test strategy: Define a complete strategy for testing that spans ecosystem and platform change while factoring in risk assurance

Test environment and data synchronization: Ensure alignment between test data and test environment

Real-time processing: Define a testing plan for real-time payment processing

Dhiraj Lokhande

Advisor and Architect, Technology and Transformation Advisory, BFSI, TCS

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