Financial Software and Systems (FSS), has been recognised at the 2019 edition of the prestigious Golden Globe Tigers Award held in Malaysia for excellence and leadership in cards and payments.
The company received top honors for its Prepaid Card Management Suite, Payment Gateway and eFInclusiv in the categories ‘Best Prepaid Card Product,’ ‘Best Online Payment Solution’ and ‘Best Alternative Payment Solution’.
FSS Prepaid Card Management Suite is a complete solution for end-to-end lifecycle management of cards from application processing to reissuance or account closure. The suite supports issuance of open and closed loop cards across multiple categories — gift cards, fuel cards, general purpose cards, government subsidy cards and transit cards, to address multiple cardholder segments. The solution incorporates instant issuance, loyalty, extensive reporting, and comprehensive security controls to enable banks differentiate their card programs and build cardholder loyalty.
FSS Payment Gateway, a white-labelled solution, powers acceptance and processing of digital payments for Tier One Banks and merchants globally. The Gateway offers out-of-the-box integration to enable merchants accept any currency payments made using any payment method and originating from any sales channel – web, mobile, IVR. Beyond enabling transactions, the Gateway extends a rich functionality set to merchants. This includes dynamic currency conversion, optimised checkout with support for recurring and card-on-file transactions, advanced real-time fraud detection capabilities and 3DS-compliant customer authentication.
Benchmarked at 4,000 transactions per second, the Gateway is highly scalable to support peak transaction volumes. FSS eFinclusiv advances financial inclusion among underserved segments. The platform leverages the India Stack to bring consumers and merchants into the formal financial services fold.
On the demand side, customers can open accounts, deposit, withdraw and transfer monies at agent locations equipped with micro-ATMS. On the supply side, the platform helps build a scalable, acceptance network by enabling micro-merchants to use low-cost mobile devices for accepting biometric-based payments. FSS eFinclusiv exploits the capabilities of the India Stack to enabling electronic Know Your Customer, eSign and Aadhar Vault capabilities improving cost efficiencies of reaching out to last mile customers.
Commenting on the win, Suresh Rajagopalan, President, Retail Payments FSS stated; “We are proud to receive this prestigious international recognition. The achievement is an acknowledgement of FSS technology expertise and ongoing commitment to bring relevant market innovation to address a range of payment needs and advance growth of digital payments. “