FSS launches new payments technology platform for banks
India-based paytech company Financial Software & Systems (FSS) has announced the launch of Blaze, a new payments technology platform for banks and financial institutions “designed to meet the growing need for scalability and security among financial institutions”.
FSS rolls out new payments platform Blaze
With Blaze, FSS says banks and financial institutions can benefit from “significant” efficiency when it comes to speed and scalability, giving them the ability to roll out payment offerings to market “at a much faster speed”.
It claims that its FSS Payment Gateway, which is powered by Blaze, has the ability to handle “more than 5,000 transactions per second”, ensuring transaction efficiency during peak hours.
Additionally, the new platform is also equipped with real-time data analytics to help enhance payment processing for businesses and resolve payment-related issues “swiftly”, while also enabling users to spot fraudulent activity more easily.
“We have created a payments industry-focused platform which will help banks achieve their digital transformation goals,” comments V Balasubramanian, CEO of FSS CashTech, adding the launch marks a “significant milestone” for the firm.
Currently, Blaze is available for customers in select markets, including India, the Middle East and Africa, with plans for a progressive rollout of the platform in new markets in the following months.
FSS claims to be India’s largest on-demand processing facility, with its FSSNeT offering processing more than three billion transactions annually. The company currently manages and operates more than 40,000 ATMs across India and partners with more than 150 global banks, financial institutions, processors, central regulators and governments in more than 26 countries.
