FSS Payment Gateway activates ‘Pays’ to boost online sales
- 14.07.2020 08:52 am
FSS (Financial Software and Systems), a global leader in payment products and payment processor, announced its e-Commerce Payment Gateway has been enhanced to support leading payment wallets -- Apple Pay, Samsung Pay and Google Pay --for online, in-app and mobile purchases. The addition of new digital instruments is designed to help merchants meet evolving needs of customers for new ways to pay and to boost online sales.
Mobile retail commerce sales by 2023, according to industry reports, would account for an approximate 52% of total online sales. The recent enhancements help acquirers take advantage of this trend and boost conversions at checkout via delivery of effortless payment experiences. Customers merely select their preferred Wallet at checkout, enter a biometric imprint or PIN, and the payment is done. There are no input-intensive forms to fill in or fumbling for a plastic card to enter the account number, card expiration, and security code.
Commenting on the enhanced capabilities, N Sathish, Dy Chief Product Officer FSS said: “The support for added payment instruments is timely as more merchants and consumers are adopting online payments due to the C-19 induced lockdown in most countries. The enhancements are in line with our objective to globally expand our white-label Payment Gateway footprint by bringing relevant innovations that delivers satisfactory, fulfilling payment experiences.”
“We are thankful for the support from Apple Pay, Samsung Pay and Google Pay to help us bring safe, simple, and widely popular payment acceptance modes to the market.” added Sathish.
For acquirers, setting up wallets for payment acceptance is a seamless process and takes a few minutes. The wallets can be integrated directly onto the merchant’s mobile website using a SDK or their desktop website. Whilst existing merchants have to opt-in for activation, with just a few lines of code, new merchants can quickly integrate the Wallet into their checkout process, allowing customers to transact in a familiar way at their favorite merchants. Alternately acquirers can use a white-labeled, out-of-the-box checkout hosted on the FSS Payment Gateway for wallet payment acceptance, benefitting smaller merchants who lack technical expertise.
In addition to the Pays, the Gateway supports a breadth of alternate payment mechanisms including MADA (Kingdom of Saudi Arabia’s payment scheme), OmanNet (network for processing debit cards in Oman) Amazon Pay, Unified Payment Interface (India’s Instant payments scheme) to boost conversions at checkout.
FSS Payment Gateway supports 70 merchant acquiring institutions globally and processes 1 Billion transaction annually. Acquirers can deploy FSS Payment Gateway in-premise or opt for an “As-a Service” model, wherein FSS hosts the service on FSSNeT (FSS private cloud) and assumes responsibility for set-up, security, regulatory compliance, maintenance, and regular product updates.