MUMBAI, Sept. 23 (Xinhua) -- India's software major, Tata Consultancy Services (TCS), has launched its real-time payment solution in multiple markets to facilitate customers in their digital transformation journey, a company statement said Monday.

With this solution, financial institutions can offer instant payments in their home countries as well in international markets. The solution is API (Application Programming Interface) enabled for the open banking environment and its modern technology stack can integrate payments from several platforms, increasing efficiency and eliminating friction in the process, the statement said.

"The industry is witnessing a broader trend towards hyper connectivity, which places huge emphasis on value creation by topping into new ecosystems," said Venkateshwaran Srinivasan, head of TCS Financial Solutions, a strategic business unit of TCS, focused on financial institutions across the world that operates across 46 countries and holds the second position on Indian bourses by market capitalization.

In 2018-19 (Apr-Mar), Out of the TCS total revenue of 20.6 billion U.S. dollars, this strategic business unit generated annual revenue of 8.2 billion U.S. dollars, up 19.7 percent over the previous year.

These solutions will help customers in leveraging new ecosystems, become more agile, fuel innovation and pursue new business models and succeed in a Business 4.0 world, popularly termed as the fourth industrial revolution, the statement said.