FSS (Financial Software and Systems), leading provider of integrated payment products and India’s largest payments processor, and NPCI International Payments Ltd (NIPL, International arm of National Payment Corporation of India) have inked a strategic alliance in a bid to expand UPI (Unified Payment Interface) rails in international markets.
The FSS and NIPL collaboration offers complementary capabilities to deliver a compelling end-to-end proposition to activate real-time payments at speed and minimal risk. Under the umbrella of the partnership, NIPL would be providing its market-leading real-time payments processing platform and technical acumen to scheme operators whilst FSS would be leveraging its domain knowledge and experience in ensuring large-scale national payments infrastructure projects, as well as UPI payment services for PSPs, to extend integration and support services.
K. Srinivasan, COO, PayTech, FSS, stated: “Worldwide the drive towards real-time payments is gaining momentum, with many countries embarking on modernization of payments infrastructure to broad-base the benefits of the digital economy. We are excited to partner with NIPL to bring a proven, best-in-class real-time payment offering that will speed innovation and adoption of digital commerce and have a wide-ranging economic impact. The implementation of real-time payments is complex as flavors differ across regions. The collaboration confirms FSS expertise and capabilities in delivering world-class payment infrastructures and services at scale around the world.”
Ritesh Shukla, CEO, NIPL, said: “At NIPL, we are dedicated to take our exemplary robust payments system to global markets and equip willing nations with resources and technological proficiency. FSS is a demonstrated leader in payments and its domain expertise combined with a strong international presence makes them a valuable partner to offer a market-leading, real-time payments system to millions of people across the globe. We look forward to attaining new highs with this partnership.”