FSS to provide digital payment card service to French consumer cooperative neo bank

FSS to provide digital payment card service to French consumer cooperative neo bank
Photo Credit: 123RF.com
24 Jun, 2020

Chennai headquartered e-payments solutions provider Financial Software and Systems (FSS), has received an order from French consumer cooperative neo-bank Emrys La Carte to provide a hosted card issuance service. 

FSS will help move the co-operative’s physical operations to a modern card payment solution, with a mobile app and online loyalty rewards, a statement said.

The Chapeiry, France-based cooperative has memberships in France and Belgium. It focuses on increasing the purchasing power of its member households.

The new programme offers digital prepaid cards linked with the app and supported by multiple wallets, enabling higher and more frequent purchases. Customers have the choice to use a combination of loyalty points and e-wallet to make purchases at affiliated merchants.

“We chose FSS as our payment services partner after a rigorous selection process. Their processing platform and ability to support product innovations will help us to bring a unique and differentiated service to consumers in France, Belgium and ultimately other European markets,” Wilfried Riviere founder and CEO of Emrys La Carte said. 

FSS’ card management platform, which is supported by its own private cloud  system, can

manage card lifecycle, offer instant issuance and an advanced rule-based framework integration with loyalty management.

“Our partnership marks the latest milestone in FSS strategy to continually innovate at speed and scale and to optimize revenue growth for all players in the acquiring and merchant space – not least here in Europe – an exciting region for worldwide payment leadership,” K Srinivasan, CRO of FSS said.

FSS provides end-to-end payments products, powers retail delivery channels including (automated teller machines) ATM, (point-of-sale) POS, internet- and mobile-based payments

including cards management, merchant management and device monitoring. It has operations in the US, Canada, Europe, Africa and the Asia Pacific.

Last month, FSS launched an advanced version of its cash withdrawal platform eFinclusiv AEPS 2.0 to strengthen last-mile banking services. In January, FSS hired former Hitachi Payments CTO Sankarnarayan Lakshmanan as its chief information officer (CIO).