enStage setting up facility in India

By siliconindia staff writer   |   Monday, 23 February 2004, 08:00 Hrs
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BANGALORE: Keeping in tune with the times, Sunnyvale-based electronic payment solution provider enStage has moved its engineering efforts to India.

It is also setting up a hosted payment processing facility, Govind Setlur, president and CEO of the company said here on Friday.

Unlike most software firms, enStage is not a manpower intensive company. Its Bangalore-based engineering centre will have a headcount of eight to begin with, while its payment processing operations will have a six-member team.

Setlur demonstrated enStage’s software product ACCOSA, an electronic payment solution, which allows banks to offer a range of payment solutions both for fund transfers and commercial transaction payments.

HDFC Bank along with Visa International has deployed the ACCOSA card solution under the brand name NetSafe. C N Ram, head-information technology, HDFC Bank, said that NetSafe allows customers to shop on-line without fear of their credit and debit cards being misused

Setlur said the company is in talks with others banks to provide innovative solutions. enStage’s hosted payment processing service will use the facility of Reliance Infocomm’s IDC in Bangalore. Banks in India, like their counterparts in US, are keen to hive of processing services to third-party providers, he said.

In the US, 70% of retail payments are made through cash and cheques.

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