R. S. SOFTWARE (INDIA) LI

Incorporated on December 2, 1987, R S Software (India) Limited was promoted by R R Jain, West Bengal Electronics Industry Development Corporation, Technology Development & Information Company of India and Risk Capital & Technology Finance Corporation. The Company has focused on providing software solution to electronic payment industries since its inception and is presently engaged in development, testing and maintenance of software for clients based in different geographies. Company also operates in US, UK and India. Company came out with a public issue at a premium of Rs 10 in Mar.'94 to part-finance the project of developing offshore software jobs at its existing hardware set-up in India for clients abroad. R S Software and Hanover Direct of the US have joined hands to set up a joint venture company in the US with the US partner holding 60% of the equity and RS Software 40 %. It acquired ISO 9001, international hallmark of quality in Jul.'94 from KPMG, US. The infrastructure for the satellite link between Calcutta and California was completed in Nov.'95. Its range of activities include on-site consultancy, offshore projects and software products. In 1996, the company entered into a strategic alliance with Software AG, Germany to bring their global solutions into India. It also entered into an alliance with Millenium Dynamics Inc. USA. The company developed capabilities in the areas of client/server and object oriented technologies. In Nov 2000, it achieved global benchmarking in the area of best quality practices and accreditation level-3 of People Capability Maturity Model (PCMM). The Company set up its second subsidiary in UK - R S Software (UK) Ltd. to strengthen the marketing arm to reach to the clients in Greater Europe. During the year 2004, the Software Process Engineering Group was restructured to drive process improvements across the organization. In 2006, the Company marketed the first indigenously developed product, a merchant boarding solution. In 2007, it unveiled the first RS managed service project for the world's largest payment card association. In 2008-09, Company executed an Open-Systems project called Visa Resolve Online (VROL) project. On the technology front, it started working on HP NonStop (Tandem) environment from offshore to provide maintenance support and testing services to Debit Processing Systems and Prepaid Services for Visa. Side by side, it completed a Software License Compliance project for the Enterprise Engineering group at VISA. The renewed orders for Mainframe Maintenance, Java Application Development and Onsite Coordination projects were rolled out in January 2009. During the period 2008-09, the Facility team took a major initiative of converting the Corporate Office into a wireless enabled facility, using a secure industry standard EAP/TLS technology. To bring about greater process efficiency, a large number of old desktops were replaced with more contemporary and high-end models available in market. 2 new 500 KVA transformers at RS Tower commissioned during the year. The Company started operations of its Singapore Subsidiary Company which got incorporated on April 09, 2010. It launched Unified Payment Interface (UPI) in April, 2016. From 2022, Company entered the 'Exa Scale Innovation' phase, scaling UPI, EFRM, and BBPS platforms significantly. It explored new open-source technologies for processing and storage, enhancing reliability and scalability. It embarked on the 'Deep Learning Innovation' phase since 2023, incorporating Generative AI to boost execution productivity. In 2025, RS Software has built iUPI - the UPI International overlay, which enable UPI to be accepted cross-border in a bilateral agreement. The Company initiated a structured transformation program focused on three key areas: It initiated strategic hiring in North America and India to expand the Sales team, deepen client engagement, and create and convert opportunities. Also, Sales Support structure was reengineered to provide faster, high-quality enablement to frontline teams.