India’s talent pool will be tapped, says Ramachandran
Visa, the global credit card service provider, will be adding more application programming interface (API) expertise at its Bangalore Technology Centre of Excellence.
“We plan to add more APIs as and when we can and understand what the market requirements are,” said T R Ramachandran, Group Country Manager for India & South Asia at the Visa Consolidated Support Services (I) Pvt Ltd.
“Today innovation can come from anywhere,” said Ramachandran, expressing confidence in APIs and Fintech developers’ solutions.
But security, as is the widespread concern in the industry including cyber risks, will be of absolute consideration in taking on API solutions, he assured.
The Bangalore centre has some 1,100 professional engineers supporting Visa’s services across the globe while it has added more than 200 APIs over the last 24 months.
Visa will also tap the huge pool of software talent in India, he said of company’s plans to expand the Bangalor centre.
“We don’t want to create products any more, we want to create standards for everyone,” he elaborated.
“We not only have a business presence in India but we have a large technology presence in India,” he told reporters, underlining the group’s commitment to the Indian market
India is one of the fastest growing markets for Visa.
Ramachandran also sees India’s electronic services being strengthened by stronger IT infrastructure with the introduction of 4G and 5G, as well as fibre optic-based networks.
“The opportunities in India are too large for one player to take on,” he said of the credit cards as more and more services for electronic transactions.
India is a market with level playing field with domestic or indigenous service and international companies playing their own roles, he said, dismissing concerns about tilt to support indigenous credit card services.
He was also concern about data confidentiality. VISA has four-pillar strategy designed to Protect Data, Devalue Data, Harness Data and Empower Consumers.
“Visa continues to drive stronger, more dynamic technologies which better prevent fraud and help move the payments industry beyond static, knowledge-based security instruments that can be stolen or forged,” said the company in a statement. fii-news.com