Off-the-Shelf feature rich solution
Introduced by the Government of India to increase cashless transactions and achieve financial inclusion, Unified Payment Interface (UPI) enables payments to be made with a virtual ID without disclosing account credentials to 3rd party applications or websites.
FSS UPI, a PSP (Payment Service Provider) layer, enables customers of financial institutions and NBFCs access services like IMPS through a single and common interface across multiple delivery channels (POS, ATM, Mobile etc.).
Instant, Real-time and Secure Payments
One of the first digital payment systems to be launched in India, FSS UPI enables instant, real-time and secure payments through QR codes, social media and device fingerprinting.
We are India’s largest IMPS processor and a leading player in both mobile and e-Commerce payment gateways. FSS UPI today supports seven large banks and supports more than 5,00,000 customers and 15,50,000 transactions per day. The customer base and transactions are rapidly increasing with the governments push to digital payments.
- Single virtual payment address: Users pay directly and securely from bank accounts to different merchants by virtual payment address creation which is linked to bank account – no card details, net banking or wallet passwords.
- Push and pull payments: FSS UPI supports push and pull payments for individuals, merchants and banks, with a single-click two-factor authentication. It supports person-to-person, person-to-entity and entity-to-person payments
- Comprehensive Operative Features:
- Pay-and-collect request transactions
- QR code enabled payments
- Multiple VPAs per customer
- Dynamic VPA and account mapping
- Multiple login authentications
- Merchant self-service portal
- Mobile SDK for merchants
- Integration of bank channels
- VPA reservation and blacklisting
- Distinct and innovative Features:
- Transactions using mobile phone as primary device
- Payment scheduling, auto debit
- Multiple split payment transactions
- ‘Scan-and-pay’ mode
- OTP and/or device fingerprinting options
- Full interoperability across all payment system players
- ‘1-click 2-factor’ authentication with just a personal phone
- Collection demand by merchants and users
- Display of alias/virtual address as QR code
- Flexible Service Delivery: FSS UPI application is delivered to individual users as a mobile application. For banks and merchants, it is delivered as a middleware system and mobile SDK kits that can be embedded in their business mobile application
- Multi-industry Application:
- Retail – Travel and ticketing, recharge and utility payments, fees and credit card payments, online and offline shopping.
- Corporate – Payment and collections, mobile and virtual POS, banking, insurance, telecom.
- A Win for all Players: Banks and PSPs can extend their services to other bank customers, and avail services of different systems. Users can link all bank accounts to single profile and manage payments on the go. Merchants can experience faster and safer checkouts, and improved transaction success rate.
- Operational Advantages: Our integrated application provides smarter back office operations, intelligent analytics and a robust rewards program processing.
- High Security: Sensitive data encryption, secure audit controls and OWASP best practices ensure high data security.