FSS (Financial Software and Systems), a global provider of integrated payment products and one of India’s payment processors, announced new enhancements to FSS Merchant Hub to maximise the value of the acquirer ecosystem for merchants through support for new transactional journeys and superior merchant service.
FSS Merchant Hub is a unique merchant support system designed for today’s omnichannel payments landscape. An integrated platform that consolidates critical business functions merchant onboarding, pricing, commissions and fee management, accounting, clearing and settlement across POS, internet, and mobile channels, FSS Merchant streamlines operations and boosts business efficiencies.
Commenting on the enhancements, N. Sathish, Dy CPO, FSS Retail Payments said, “An agile operational backbone adaptable to market and regulatory forces is vital for ensuring the visible front end aspects of the acquiring business run smoothly. The current enhancements introduced in FSS Merchant Hub will help acquirers keep pace with evolving transactional needs, boost merchant service levels and propel growth.”
FSS Merchant supports end to end incentives management definition, payout computation and clearing. Acquirers can define incentives for cardholders, merchants and merchants acquiring entities, sales managers, agents, regional sales managers along with multiple variables merchant type, transaction type, real time or batch mode, periodicity, transaction currency, per-transaction cost, minimum and maximum incentive amount.
To reduce the overall cost of ownership, FSS Merchant is now compatible with PostgreSQL. FSS Merchant is deployed at leading Tier One acquiring banks and merchant processors to manage operations globally and currently supports one million merchants. FSS supports in-premise, as well as pay as you grow models bundled with a managed services approach.
