The aftermath of 2008’s financial crisis was a period of uncertainty and painstaking reassessment. Since then, the payment services sector has fundamentally altered itself – rapidly moving towards a better and brighter future. HCL is a part of this transition. Our cards micro-vertical offers a full-fledged retail financial services package, including merchant acquiring, credit card payment processing, and fraud detection.

HCL PaCS (Payment & Card Solutions) is an innovative NextGen Payments & cards offering that enables the Financial Institutions drive transformation into payment transactions creating modern ways of executing payments for everyone, from anywhere. With extensive domain expertise and proven experience of working with some of the F500 FS Institutions worldwide, HCL’s PaCS is a complete package of payment monitoring, cloud enablement, Transaction services and ISO 20022 compliance and supports advanced fraud and risk control.

A wave of transformation is sweeping through the competitive cards market. This transformation is leading card issuers to employ measures to attract and retain profitable customers and minimize customer churn and losses accruing from delinquent customers. It is also driving the card issuers to innovate and develop new strategies to standardize operations, focus on core business areas, and offer differentiated services to the market. HCL Cards Business Services practice comprises domain experts, industry practitioners, and other consultants. They provide functional and domain support aimed at providing transformational benefits to clients facing market pressures and business challenges.

HCL PaCS (Payment & Card Solutions)

Business Situation

Industry Trends



Challenges and Opportunities


Dynamic Customer Preferences

  • Retail: Omnichannel experience, alternate payment methods, real-time connectivity, rewards and loyalty, ubiquity
  • Corporate: Real-time liquidity management, traceability and reach, API-led propositions, disparate data & fraud management, end-to-end cash management, unified view of banking relationships, contextual payments

Entry of BigTechs

  • Segment focused: Apple Card, GooglePay, AmazonPay, Facebook (Libra), Consolidated QR code
  • Consolidation: FIS/WorldPay, Fiserv/FirstData, PayPal/iZettle, ACI/WU SpeedPay, MasterCard/Vocalink

Regulatory / Industry Considerations

  • Real-time payment initiatives: TCH RTP (US), FedNow (US), SEPA Inst (Europe), RTR (Canada); Instant cross-border
  • ISO20022 adoption: SWIFT MX (Global), TARGET MX (Europe), Fedwire (US)
  • Other initiatives: Fragmented Open Banking adoption, data protection regulations

Emerging Technologies

HCL Solution


Solution Building Blocks

Standardize cheque collection and processing
RPA, AI/ML solutions
Leverage HCL tools to reduce bau costs
Leverage hcl tools to standardize dev, test and release management
Cloud based hosting
Decommissioning and legacy migration
Predictive analytics to enhance user experience
Tools for scanning(multiple languages), fraud detection
Real time updates across cheque lifecycle to end clients

How HCL is helping Banks to leapfrog competition



Thought Leadership



Success Story

CFT- Payment Transactions Processing
CFT- Payment Transactions Processing

HCL developed ISO 20022 based application for the European mass payments, covering SEPA CT, SEPA DD-Core and SEPA DD-B2B. SWIFT based Multi-currency Payment and BIC based Analytical & Routing are some of the key features

Regulatory Compliance Cost Effective Low Investment solution for SEPA

Faster Payments For A Leading Bank In UK
Faster Payments For A Leading Bank In UK

HCL was involved to build real-time payments capability (Faster Payments ), Architecture blueprint and prototype for a centralized payment hub service

Faster Payment capabilities across multiple incoming channels

Integrated Cash Management portal for Large Global Bank
Integrated Cash Management portal for Large Global Bank

HCL as strategic partner was involved to achieve:-White labeled solutions for 5 banks Re-usable development framework Architecture re-engineering from legacy to J2EE Technology

New business avenues, Faster time-to-market, Cost benefits and application scalability

Consumer Cards – Loyalty (Business Process Monitoring)
Consumer Cards – Loyalty (Business Process Monitoring)

HCL iControl was implemented to resolve lack of understanding of how the technical outages which the production support team were dealing with day-to-day were impacting the business. RCA was also impacting due to complexity of landscape

Business process mapping, Effective RCA, Real-time business performance

Consumer Cards – Loyalty (Business Process Monitoring)
Payment Hub program at a large bank in Australia
  • New simplified payments architecture “Unified Payments Capability (UPC)”
  • Implementation of multiple components of payment hub with Product vendor
  • HCL was acting as system integrator and provided overall program management & solution leadership

Metric driven project management, Value zone enabling cost savings