MUMBAI, India--(BUSINESS WIRE)--Entrust Datacard today announced that they have entered into a strategic partnership with Financial Software and Systems (FSS) – a leader in payments technology and transaction processing that provides secure, scalable and seamless card issuance in the Indian market. Through this partnership, Entrust Datacard and FSS will offer instant, in-branch card issuance solutions to support various social security and financial inclusion initiatives.
FSS has spearheaded the growth of retail and whole sale payments in India through a rich portfolio serving banks, financial institutions, merchants, governments and other verticals. With this new partnership, FSS will be offering a new instant issuance solution to financial institutions – enabling secure instant issuance of payment cards and customer-selected PINs at account opening. This will enhance the customer experience, drive cost savings and increase revenue for financial institutions by eliminating mailing costs and giving consumers instant purchasing power.
Commenting on the partnership, Nagaraj Mylandla, managing director of FSS, said, “FSS has always been on the forefront of bringing new technologies to the payments domain in India. Today, banks in India are focusing on new technologies to build a deeper engagement with their customers. The hosted instant card issuance solution that we are introducing through our partnership with Entrust Datacard is one such technology that will assist banks in India to achieve service excellence.”
“With this new instant issuance solution banks will be able to issue a personalized secure card to their customers along with a “Green PIN” instantly after a new account is opened. In addition to providing the customer with ease of banking, banks will also gain immensely by saving cost and time. I am confident that all banks in the country will soon move in this direction, which I foresee as another significant step in the future of retail banking”, said Nagaraj Mylandla.
The rapidly growing FSS clientele includes over 100 leading global banks as well as some of the world’s largest processors and retailers. In India, the FSS domestic client portfolio includes over 35 banks – featuring the majority of public and private sector banks in the country. Internationally, over 70 banks, financial institutions, processors and prepaid card issuers are customers of FSS.
“We are pleased to have partnered with FSS to offer instant issuance of fully personalized cards across bank branches and key locations for customers to get their cards immediately at bank account opening,” said Rajiv Singh, managing director, Datacard South Asia. “We believe this partnership will accelerate both financial inclusion initiatives and digital access to the payments systems.”
For more information, please visit http://www.datacard.com/instant-issuance-solutions.
About Entrust Datacard
Consumers, citizens and employees increasingly expect anywhere-anytime experiences — whether they are making purchases, crossing borders, accessing e-gov services or logging onto corporate networks. Entrust Datacard offers the trusted identity and secure transaction technologies that make those experiences reliable and secure. Solutions range from the physical world of financial cards, passports and ID cards to the digital realm of authentication, certificates and secure communications. With more than 2,000 Entrust Datacard colleagues around the world, and a network of strong global partners, the company serves customers in 150 countries worldwide. For more information, visit www.entrustdatacard.com.
Financial Software and Systems (FSS) is a payment technology leader, 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 retail payments initiatives of leading banks, financial institutions, processors, merchants, governments and regulatory bodies and its end to end payments suite powers retail delivery channels such as ATM, PoS, Cards, Mobile and Internet across the globe.
Headquartered in Chennai, the company services 100+ customers across the globe, which include leading public and private sector banks in India like State Bank of India, ICICI Bank, HDFC Bank, AXIS Bank, Punjab National Bank, Canara Bank, Bank of Baroda and Union Bank of 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.
FSSNeT, the hosted payment business of the company is the largest independent processor in the country and provides ATM/ POS switch services, card issuance and management, wholesale payments, corporate payments, ATM managed services, POS services including mobile PoS and micro ATMs, internet payments, mobile banking and payments and financial inclusion services. It also provides multitude of value added services, back office processing and ATM related services to banks and financial institutions. Today, FSS powers 6 million transactions per day, providing faster and smarter payment solutions to billions of people across 7000 villages and cities in India.
The company also offers a comprehensive portfolio of payments products for banks, retailers and other institutes. The products are designed to address diversified needs across the payment ecosystem and include highly scalable platforms for issuing, acquiring, merchant management, reconciliation and settlement, payment gateway, financial inclusion, social/ mobile banking and device monitoring.
The Company’s a comprehensive set of software services includes system integration, offshore development, application and product testing, project management, migration and upgrade, onsite technical support and 24/7 helpdesk support. The services range from managing mature products with several releases into the market, to legacy systems that are at the end of their life cycle.
FSS today has a team of 1500 + experts serving the clients across the globe.