FSS wins 4 awards including Best B2B Payment Solutions Provider 2019
- Digital Identity , Payments
- 08.08.2019 09:40 am
FSS (Financial Software and Systems), a global payments technology company, has won four awards at the 7th edition of Payments and Cards Summit, held in Mumbai. The company received the highest honour Best B2B Payment Solutions Provider as well as awards in three other categories -- Best White-Labelled Payment Gateway for FSS Payment Gateway, Best ATM Managed Services for ATM Managed Services and Best Anti-Fraud and Security Solution for FSS Secure3D. This is the second consecutive year in which FSS Payment Gateway has won this prestigious award.
Commenting on the win, Suresh Rajagopalan, President, Retail Payments FSS stated; “We are honoured to have received the top honour of being India’s Best B2B Payment Solutions Provider among other awards at the prestigious Payments and Cards Summit Awards. Adjudged by senior bankers in the industry, the win validates FSS leadership and innovation capabilities in the fintech space and encourages us to raise performance benchmarks and deliver greater value to our customers.”
FSS was conferred the Best B2B Payment Solutions Provider of the Year award for being India’s top payment processor and a leading supplier of integrated payment products globally. FSS B2P Payment solutions helps banks modernize payments infrastructure and improve business performance, technology and operational efficiency in five key areas -- card payments, merchant acquiring, digital banking, digital security and back-office operations. A unique value creation model characterized by continual product innovation, flexible business models, global expansion strategy and year-on-year double-digit growth in customers and revenues were crucial factors for the win.
The Best White-Labelled Payment Gateway award went to FSS Payment Gateway for secure, reliable and scalable payment processing for merchants. With over two decades of experience in delivering Payment Gateway solutions, FSS powers online payment acceptance for 25+ Tier One Banks, central banks and payment processors. The Gateway processes an approximate 58% of the country’s e-commerce transactions in value terms and serves 450,000 merchants in 250 categories. The Gateway supports a wide range of alternative payment acceptance methods, advanced analytics and comprehensive risk management tools to accelerate e-commerce sales.
FSS Secure3D, a real-time, risk-based authentication solution, won the award for the Best Anti-Fraud and Security Solution. Deployed by 15+ banks, FSS Secure3D processes 200M+ authentication requests annually. Modelled on EMVco2.0 guidelines, the solution boosts e-commerce transaction volumes whilst minimizing incidence of identity fraud. FSS Secure3D leverages sophisticated AI and ML-based techniques to construct customer transactional profiles and risk score customers. Customers with low risk score are authenticated in the background, eliminating the friction associated with entering one-time passcodes during the transaction process.
FSS’ comprehensive ATM Services portfolio brings together industry best practices, cutting edge tools and service methodologies in a shared service model to improve efficiencies of ATM operations. As a leading player and trusted partner in the payments industry, FSS manages ATM operations for more than 30 leading public and private banks across India. With more than 7, 100 touch points across the country, they manage over INR 220 Billion cash through 35,000+ ATMs.
Conferred with the Best ATM Managed Services Award, V Balasubramanian, President – Merchant & Terminal Business, FSS said, “As one among the top three players in ATM managed services in the country, we’ve believe that India’s most preferred channel for undertaking financial and non-financial transactions are ATMs and uninterrupted uptime for end-consumers is critical. It is our endeavour to provide them with a hassle-free payments and settlements system, and our commitment is further reiterated with the recognition we’ve received at the Payments and Cards Summit Awards this year. We will continue to disrupt the industry with our solutions that are ahead of its time and empower Indians with the right of choice.”
The Payments and Cards Summit is the only event in India exclusively for the payment and card industry, participating executives from varying verticals including issuers, networks, retailers, e-tailers and innovators.