In the last decade almost every industry has taken advantage of developments made in technology. Modern architectures, languages, tools and databases have enabled much more responsive, easier to maintain and lower cost solutions to rise and dominate the landscape. One industry remains stubbornly at odds with this: retail payments, which continues to use legacy systems and suppliers. Inefficiencies experienced by financial institutions today are a direct result of these inflexible, costly and unresponsive legacy systems. The payments system of the future should provide open and more productive systems allowing innovation and product development to provide new business in rapid time frames while remaining cost effective.
Financial institutions around the world have never been under so much pressure to deliver fully-functional, electronic payment systems that can be accessed at a time, a place and through a channel convenient to the consumer.
TANGO is a state of the art technology, offering a modern, integrated infrastructure that is highly performant and highly efficient, while its genuine service-oriented architecture significantly reduces development time and cost. The core principles of TANGO’s architecture provide the maximum flexibility regarding choice of platform, database, and operating environment, making the payment system of the future available today.
The TANGO Payments Engine supports acquiring, routing, switching, authenticating, and authorising transactions across multiple channels including ATM, Point of Sale, Internet, and Mobile Banking, in a multi-institution environment that may span different geographies.
TANGO’s off the shelf functionality allows standard card types, international card schemes and devices, national switches and hosts to be easily deployed within standard product. This common architecture reduces duplication and the complexity of development and testing work between different functions, leading to reduced development and maintenance costs and to faster time to market for new payment solutions.