Business Analyst

Job Description for Business AnalystPreferred Experience: 6-10 yearsWork Location: Kolkata/RemoteAbout RS SoftwareRS Software builds global, national and enterprise payment platforms, and has presence in four continents. The product suite combines with knowledge systems built over 30 years, delivering mission-critical payment solutions that combine innovation and entrepreneurship to create the new gold standard for digital payments. With approximately 40% of the global digital payment volumes in 2021 processed on platforms built by RS Software, the vision is to deliver Payments at the Speed of Thought.RS Software is focused on the global payments modernization market, providing large-scale, high-performance payment systems, serving central Infrastructures, financial institutions, payment network providers, payment processors and software companies providing products to the payment industry. The company's product suite offers ISO 20022 ready, open payments architecture using a cloud-based microservices framework - optimizing costs, seamless integrations with commoditized products, and accelerates the pace of adoption. The company’s solutions today are installed in 12 of the top 20 banks in India, and the four major platforms built by RS Software cumulatively process annually 350+ billion transactions world-wide, giving the company a rare track record in the payments domain. RS Software’s product suite is getting recognized in some important markets, which is creating strategic partnerships, the foundation for the company’s long-term growth.RS Software has bult India’s digital payment infrastructure, the three major payment platforms, which are transforming the lives of a billion+ people.Instant digital payment platform (UPI)Bill payment platform - Bharat Bill Payment System (BBPS)Enterprise Fraud and Risk Management (EFRM) Why RS Software?RS provides a unique experience of engaging in some world class product development and prestigious large scale payment platforms that caters to billions of peopleWe provide opportunity to learn and develop high throughput transaction processing systems RS Software is one of the few technology and payment solutions providers where talented individuals have the opportunity to work on cutting-edge, complex, and mission-critical IT projects. We offer ample career opportunities to hardworking and skilled employees.Our Talent Management Program is specifically designed to identify the interests of each employee and match them with suitable career paths within their desired domains, allowing them to make the best possible use of their skillsets in reaching their goals.We invest in the knowledge and skill development of our employees with RS School of Payments – the industry’s most comprehensive training platform. There are three main areas of focus that the Academy and School address: current technology skills, professional development and payments domain knowledge.Our customized training program, well-defined career mapping process and comprehensive appraisal system is designed to help every employee achieve their goals. To address the challenges of relocation, we offer employees coming from other regions reimbursement for expenses associated with their moves as well as complimentary interim facilities, such as guesthouse accommodations, to ease the transition. We also assist employees with finding suitable housing.Role Summary:The Business Analyst will support the design, enhancement, and delivery of a Merchant Acquiring & Payment Acceptance product. This role requires an in-depth understanding of payment processing, acquiring flows, merchant lifecycle management, settlement cycles, and integration with processors, gateways, and card networks.The Analyst will collaborate with product, engineering, QA, operations, compliance, and external partners to translate business needs into functional and technical specifications.Key Responsibilities:A. Requirements Gathering & AnalysisLead requirement elicitation through stakeholder interviews, workshops, process reviews, and data analysisTranslate business needs into clear, structured BRD/FRD/SRS documents, user stories, and acceptance criteriaAnalyse current vs. target processes, perform gap analysis, and define workflows, data models, and system impactsCollaborate with Product, Tech, QA, and UI/UX teams to ensure clarity, feasibility, and alignment of requirementsManage requirement changes, maintain traceability, and support planning across sprints and releasesSupport QA/UAT by validating requirements, resolving clarifications, and ensuring end-to-end coverageB. Payment Processing & Acquiring ExpertiseDeep understanding of acquiring flows involving issuer, acquirer, network, and processorFamiliarity with ISO 8583 messages, clearing/settlement files, scheme mandates, and liability shiftsUnderstanding of the merchant lifecycle:Application → Underwriting → Approval → ActivationTransaction ProcessingSettlement, reconciliation, disputesStrong knowledge of PCI DSS, 3DS, fraud checks, dispute/chargeback workflowsC. Documentation & ArtifactsCreate high-quality product documentation:BRDs, FRDs, User ManualUser stories and acceptance criteriaSequence diagrams, flowcharts, mock-ups, and field mapping sheetsMaintain version control and traceability throughout design and developmentD. API & Integration WorkDefine API request/response structures, validations, and error codesAssist in integration with acquiring processors, payment gateways, token vaults, and fraud enginesCreate mapping sheets for: Processor request/responseSettlement file layoutsReconciliation inputs and outputsWork with engineering to validate contract compliance across systemsE. Stakeholder CommunicationFacilitate discussions with product, engineering, QA, operations, and compliance teams.Conduct grooming sessions, walkthroughs, and requirement clarifications.Support external clients/partners with requirement understanding, integration queries, and certification processes.Communicate timelines, risks, and key decisions clearly and accurately.F. Testing & ValidationWork closely with QA to define test scenarios, edge cases, and data preparation requirementsExecute functional and API tests to confirm alignment with requirementsReview processor certification results and help troubleshoot issuesParticipate in UAT and ensure deployment readinessRequired Skills & Qualifications:A. Core CompetenciesStrong analytical thinking and structured problem solvingExcellent documentation and communication skillsComfortable working with technical details, system behaviours, and data fieldsAbility to translate business problems into engineering-ready specificationsB. Domain Expertise (Mandatory)Practical experience in merchant acquiring or payment acceptanceUnderstanding of: ISO 8583, ISO 20022, NACHA, network message formatsAuthorization/clearing/settlement lifecyclePayment methods (cards, ACH/eCheck, wallets, UPI, RTP)Tokenization, fraud screeningReconciliation, dispute, and chargeback processesC. Tools & TechnologiesPostman, Swagger, JIRA, ConfluenceMiro / Figma / Visio for flows and diagramsBasic SQL and data interpretationAPI-first product architecture familiarity