FSS, a Payments and Fintech leader, today, announced it has won the prestigious 2019 Frost & Sullivan, India Best Practices Award for Leadership in Payments. FSS has been conferred the 2019 India Payments Technology – Transaction Processing Services and Product Line – Strategy Leadership Award for a proven track record for technology services and commercial model innovation.
The payments industry is undergoing rapid ecosystem expansion and transformation at the same time. Payment providers are looking for greater flexibility and agility to launch new products and adapt to the rapidly evolving market environment. FSS Payments-as-a-Service model helps customers to capitalize on new opportunities by balancing cost and time to launch new innovations.
FSS supports seamless provisioning of a full portfolio of services on FSSNeT, FSS private cloud, with FSS assuming a single mantle of responsibility for transaction processing, certification, compliance and security. The offering includes a complete services stack — issuance, merchant acquiring, digital banking, digital security, and payments reconciliation that leverages new age technologies such as AI and Big Data to enable customers achieve distinct competitive leverage.
Speaking on the decision to select FSS for the award, Benoy CS, Vice President, Digital Transformation Practice, Frost & Sullivan, stated; “With close to three decades of experience in the payment domain, FSS is among the leading transaction processing providers in India, offering business value in the areas of electronic payments and financial processing solutions and services. With its integrated portfolio of solutions, global presence and established infrastructure, FSS today continues to invest in developing and bringing to market, leading-edge digital payment solutions that will not only take its customers into the future but also enable it establish a strong competitive position in the Indian market.”
Commenting on the award, Suresh Rajagopalan, President – Retail Payments, FSS said, “Payments are amidst a transition and services providers are optimizing their operating blueprint to drive future growth. The recognition affirms our leadership in enabling customers across the globe future-proof their business by bringing innovative solutions architected with a deep understanding of customer needs, a high standard of quality, and flexible commercial models.”
The award is based on Frost & Sullivan’s independent analysis of the Payments industry, which benchmarks market participants through independent, primary interviews, and secondary industry research and determined that FSS exceeds expectations and contributes to the market with its value-add products and solutions, high-end payment processing capabilities, and services.
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