Tata Consultancy Services (TCS) share price gained in the early trade on April 5 after the company entered into a strategic partnership with Payments Canada.
"Tata Consultancy Services (TCS) has entered into a strategic partnership with Payments Canada, the country’s largest payment organisation, to transform its payment system operations and help implement the Real-Time Rail (RTR), the new real-time payments system that will allow Canadians to initiate payments and receive irrevocable funds in seconds, 24 by 7 by 365," TCS said in a press release.
TCS will leverage its deep knowledge of the Canadian payments industry and extensive experience in designing and implementing large payment systems for its Canadian financial services clients to help Payments Canada create and execute an integration roadmap for the RTR.
Additionally, TCS will use its solutions around quality engineering and participant engagement to effectively help plan and orchestrate a comprehensive end-to-end industry assurance programme that will holistically validate the solution for the RTR deployment, it added.
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“We are excited to partner with Payments Canada to introduce a modern payments platform that enables frictionless payments which will accelerate the launch of new products and services," said Manmeet Chhabra, Business Unit Head, Financial Services – Canada, TCS.
"This reinforces our commitment to play a key role in developing critical components of the national financial infrastructure, helping propel Canada to the forefront of digital innovation,” he said.
At 10:05am, Tata Consultancy Services was quoting at Rs 3,813, up Rs 43.20, or 1.15 percent, on the BSE.
The share touched a 52-week high of Rs 4,045.50 and a 52-week low of Rs 3,004.80 on January 18, 2022 and May 3, 2021, respectively. It is trading 5.75 percent below its 52-week high and 26.9 percent above its 52-week low.
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