A future-ready payment test function: The need of the hour
1 MINS READ
Industry
- Banking
Banking on purpose-led ecosystems
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
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