FSS powers Rupay Debit + Pin option for Micro ATM’s in just 3 weeks
Through Pradhan Mantri Jan-Dhan Yojana program 8.69 crore RuPay Cards have been issued across India. The Department of Financial Services (DFS) mandated all banks in India to enable PIN based RuPay Card transactions through Micro ATMs.
Financial Software & Systems, a front runner in Financial Inclusion, is the first solution provider in India to enable and support RuPay based debit card transactions on Micro ATM’s. The solution has been deployed successfully for top 2 private sector banks in the country.
To meet the DFS directive, FSS provides the following technology services on a hosted model:
- End to end deployment of micro ATM’s (covering Aadhar based transactions, eKYC for new account opening and Rupay debit card usage with PIN)
- Enabling debit and pin transaction processing through FSSNeT, hosted eFinclusiv server, for banks’ existing micro ATM’s/terminals.
FSS hosted Model offers banks faster go-to-market time besides the benefits of pay as you go. In addition, debit card + PIN enablement also ensures the ease of transaction.
FSS offers these services through FSS eFinclusiv, a financial inclusion gateway designed for banks to roll out innovative and diversified inclusive banking services. It enables multi-channel, branchless banking approach using handheld devices like micro ATM’s and tablets.