Commenting on the partnership, Ram Chari, Chief Operating Officer, FSS, stated; “Leading acquirers like AFS are broadening their partnership with FSS to benefit from cutting-edge, omni-channel capabilities embedded in our Acquiring stack. We have an established track-record of delivering innovative commerce solutions and are excited to partner with AFS to support their ambitious growth plans. With our full-services Acquirer Stack, AFS brings industry-leading capabilities to deliver new commerce experiences, better serve merchants and accelerate the growth of digital payments in the region.”
Commenting on the partnership, B. Chandrashekar, Chief Executive Officer, AFS, stated, “We chose FSS as our payment services partner after thoughtfully considering all options. Their world class processing platform and ability to support product innovations helps us bring differentiated solutions that will materially increase the adoption of digital payments and effectively foster the creation of an inclusive digital economy.”
FSS Acquirer Hub, an omni-channel acquiring solution, enables acquirers to accept, authenticate route and settle transactions originating from online, in-store or mobile channels. The key components include FSS Payment Gateway, FSS PoSability and FSS Merchant Hub.
FSS Payment Gateway offers a scalable and reliable platform for ubiquitous payment acceptance, Scalable to process 4,000 transactions per second, the Gateway supports a wide range of payment options -- Wallets, cards, instant payment schemes, link payments -- sophisticated authentication and real-time fraud management capabilities as well as advanced insights for improved business decisioning.
FSS PoSability bundles card acceptance, value added services, transaction processing, back-office functions and analytics into a single offering to help acquirers grow and manage their merchant portfolio. Beyond basic acceptance services, FSS PoSability extends a host of added value services including dynamic currency conversion and data-driven insights to achieve market differentiation.
FSS Merchant, simplifies operations by consolidating critical merchant functions onto a single platform. This includes merchant onboarding, risk management, accounting and settlement across POS, Internet and mobile channels. The solution offers acquiring acquirers the flexibility to adopt a progressive approach and integrate with a single channel and seamlessly add-on channels to meet evolving business demands.
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 25 years of comprehensive experience across payments spectrum.
FSS, through its innovative products and services, caters 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, Internet, Mobile and Financial Inclusion as well as critical back-end functions such as cards management, reconciliation, settlement, merchant management and device monitoring.
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 across North America, UK, Europe, ME, Africa and APAC.
[i] Source: https://www.boozallen.com/content/dam/boozallen_site/dig/pdf/white_paper/doubling-digital-payments-in-mena.pdf
For media contact:
EVOPS Marketing & PR
Mob: 00971 50 6975146
Tel: 00971 4 566 7355
© Press Release 2019