Everlink Payment Services has picked Chennai headquartered payments company Financial Software and Systems (FSS) to modernise its card operations.
Markham, Ontario based Everlink is the second largest payments company in Canada. The company provides payment solutions and services focused on Canadian credit unions, banks, as well as small and medium businesses.
FSS’s unified card management system, which is an application programming interface (API)-based card management framework, will replace Everlink’s legacy card issuance infrastructure officially in the fourth quarter this year.
The deployment will help Everlink manage debit and prepaid cards issuance from a single platform, as well as support transaction processing and other programs for pre-paid cards, to help scale the solutions.
“The Canadian market relies heavily on card spending and is digitizing rapidly. It is a market where FSS is deeply committed to work with partners such as Everlink to help revolutionize customer digital experiences.” Said Nagaraj V Mylandla, Founder, Chairman and Managing Director, FSS.
The deployment will work by migrating everlink from a legacy mainframe to an open stack system that can integrate seamlessly with other payment systems through its APIs.
Additionally, the FSS card management system would also provide for customised configuration of card products and new program features, helping in overall time to market of new solutions.
The new system is claimed to support physical and virtual debit and prepaid cards, along with other solutions such as financial institution card controls.
Card controls refer to the ability of cardholders or institutions to customize their credit or debit cards to match spending habits and other criteria.
The deployment will also be able to be architectured to support multi-institutions, capable of being logically partitioned (sharing physical hardware as separate operating systems), along with data security and privacy features.
The banking clients will be able to utilize automated web-based workflows to help rollout card programs, as well as rich dashboards and ability to seamlessly interface with core banking systems, the release said.