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Tarang Acquires First EMV Customer In Saudi Arabia
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Partners with Intersoft, a Saudi Arabia-based company, to develop and certify SPAN II application on MagIC terminal.
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Thursday, June 19, 2008:
Tarang Software Technologies, a provider of Point of Sale (PoS) and mobile payment solutions, has acquired its first EMV customer, Intersoft, in Saudi Arabia. EMV is the Europay Mastercard Visa Integrated Chip Card Standard to ensure secure PoS payment transactions. Intersoft, which is headquartered out of Riyadh, Saudi Arabia, is a provider of PoS solutions.
Intersoft has partnered with Tarang to develop and certify SPAN II application on MagIC terminal.
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SPAN II is the latest specification for implementing EMV Level II in Saudi Arabia, and it is mandatory for any payment application on PoS/ATM to comply with this specification.
According to V. Rama Kumar, founder and CEO, Tarang, “Tarang’s leadership in payment technologies is once again strongly established. EMV is the way to go for PoS solutions across the Middle East, India and Europe. I am happy that Tarang is at the fore-front once again.”
“We are delighted to find Tarang as our right outsourcing partner. The Tarang team, which has deep understanding of the PoS and payments domain, has been successfully working as an extended arm of Intersoft. We are confident that we can leverage on Tarang’s domain expertise to sustain our leadership in the Middle East,” quipped Ammar Al-Qadi, owner and general manager, Intersoft.
“Tarang, which employees about 300 people at its Bengaluru facility, has achieved a turnover of $5 million last fiscal. This financial year, the company expects to achieve a turnover of $7 million,” added V. Rama Kumar.
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