Chennai, 20th May, 2015

FSS Technologies FZE, the middle-east subsidiary of Financial Software & Systems (FSS), a leader in payments technology has been appointed by the Central Bank of Oman (CBO) to implement "OmanNet e-payment Gateway" in Sultanate of Oman. In addition, Central Bank of Oman is also in the process of replacing their existing Settlement and Dispute Management System with FSS Recon, a PA-DSS certified product.

Speaking about partnering with FSS, Mr. Badar Khalid Ahmed Al Aghbari, Manager- BOD, Central Bank of Oman, said, "Implementing OmanNet payment gateway is yet another initiative by CBO to enhance the payment infrastructure in the country and stimulate growth of e-commerce in government and non-government entities".

He added "We have appointed FSS as e-payment gateway solution partner for this project, based on their experience in payments systems and operating large internet payment gateway infrastructure in India. Once operational, OmanNet Payment Gateway will process national debit transactions, in a simple, secure and versatile way that will facilitate merchants in the Sultanate of Oman to offer e-commerce services to their clients."

Commenting on the partnership, Mr. Nagaraj Mylandla, Managing Director, FSS, said, "With our in-depth payments domain knowledge built over two decades, we are well-equipped to become a global leader in payments industry. The awarding of this significant project to FSS by Oman's Central Bank reposes the faith in our expertise in this domain."

Today, we have emerged as preferred player in this region providing digital payment gateway, reconciliation, card lifecycle management and PoS solutions in both hosted and licensed models. In the middle-east, 6 out of top 10 banks have already partnered with us and more banks in the region are in active discussions with us. With these emerging opportunities for FSS, I foresee the middle-eastern region playing a significant role in consolidating our position as the preferred global leader in payments."

FSS Internet Payment Gateway, the first PA-DSS 3.0 certified gateway is an e-commerce payment processing platform, with advanced authentication that enable institutions, processors and merchants to accept and process online and offline payments seamlessly with highest security.  With this solution, Central Bank of Oman will be able to process national level transactions and offer e-commerce services to merchants in the country.

FSS Recon is a robust and rich in feature product that is trusted by over 20 banks across the globe and reconciles over 12 billion transactions annually.

FSS has spearheaded the growth of retail & whole sale payments in India by serving banks, financial institutions, merchants, governments and other verticals through a rich portfolio of innovative software products, software services and hosted payment services. The rapidly growing FSS clientele includes over 100 leading global banks, some of the world's largest processors and retailers.

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About Central Bank of Oman:
The Central Bank of Oman (CBO) is responsible for maintaining the internal and external value of the national currency. Being single integrated regulator of Oman banking service industry CBO is committed to excellence in providing monetary and financial stability and fostering a sound and progressive financial sector to achieve sustainable economic growth for the benefit of the Sultanate of Oman.

Central Bank of Oman also operates and manages the National Payments Systems in the country which includes Real Time Gross Settlement System (RTGS), Automated Clearing House (ACH), Electronic Cheque Clearing (ECC) and OmanNet.

To know more about Central Bank of Oman, please visit www.cbo-oman.org

About FSS:
Financial Software and Systems (FSS) is a leader in payments technology and transaction processing, offering a diversified portfolio of software products, hosted payment services and software services built over 24 years of comprehensive experience across payments spectrum. 

FSS through its innovative products and services cater to the wholesale and retail payments initiatives of leading banks, financial institutions, processors, merchants, governments and regulatory bodies. Its end-to-end payments suite powers retail delivery channels such as ATM, PoS, Cards, Mobile and Internet across the globe.

Headquartered in Chennai, India, the company services 100+ customers across the globe, which include leading public and private sector banks in India and some of the large Banks, FIs, Processors and Prepaid Card issuers are customers of FSS across North America, UK/Europe, ME/Africa and APAC and has a team of over 1700 experts serving the clients across the globe.

FSS Products: The comprehensive portfolio of payments products offered in licensed and hosted model are designed to address diversified needs across the payments ecosystem. The products are technologically advanced, PA-DSS & PCI-DSS certified, and are highly scalable. The wide range of offerings from FSS includes solutions for merchant management, card lifecycle management, internet and mobile payments gateway, reconciliation and settlement, financial inclusion, social/ mobile banking, device monitoring, mandate management system and payments hub.

To know more about FSS and its offerings, please visit www.fsstech.com or email info@fsstech.com.

For media queries, please email corpcomm@fss.co.in
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