Mumbai headquartered software services firm Tata Consultancy Services (TCS) will implement its wallets and rewards solution Quartz for UK based pre-order payments startup Zapaygo.
TCS said Quartz, which is a hybrid blockchain platform, will power Zapaygo’s wallet services and reward programmes, giving its customers benefits from merchants in sports and leisure venues across the globe.
“The objective is to support numerous merchant venues and redefine how they deliver services, and in the process increase customer loyalty,” Elliot Hall, founder CEO and chairman, Zapaygo, said in a statement.
The Quartz solution will work by providing tokens managed on public blockchain to Zapaygo’s customers while also utilising a private permissioned network for rewards programme management. This will allow customers to purchase, avail and redeem reward points while managing the wallet in a secure manner through cryptographic keys.
TCS’s Quartz command center will help monitor and administer the entire ecosystem. The Quartz suite will be offered in a managed services model running on a private cloud.
“Targeted at multiple industry segments spanning travel & hospitality, e-commerce, telecom and financial services, Quartz can help organizations reimagine the way these programs are currently administered,” R Vivekanand, global head, Quartz, TCS, said.
The solution would help Zapaygo bring in more efficiency, transparency and better customer experiences. Quartz could turn dormant loyalty points held in multiple customer accounts into a redeemable token available on a secure distributed ledger.
At the backend, the solution utilises a hardware security model (HSM) which helps store the private keys and operate wallets on behalf of customers. The rewards solution would also help in real-time settlement as well as connect multiple loyalty programs. “Smart contracts handle the instantaneous redemption of rewards, enable funds conversion to equivalent points for multiple issuers, and provide an audit trail for a complete history of transactions,” the company said in the statement.