FSS (Financial Software and Systems), a globally leading provider of integrated payment products and India’s largest payments processor, and NPCI International Payments have signed a strategic partnership to expand UPI (Unified Payment Interface) rails in international markets.
India is among the first countries globally to launch real-time payments rails, processing close to three billion transactions a month on the UPI network. Several governments and regulators globally, and emerging markets, in particular, are keen on modelling NPCI’s success in building an interoperable, real-time payments infrastructure, supporting the long-term growth of the digital payments’ economy.
K. Srinivasan, COO, PayTech, FSS, stated: “Worldwide the drive towards real-time payments is gaining momentum, with many countries embarking on modernization of payments infrastructure to broad-base the benefits of the digital economy. We are excited to partner with NIPL to bring a proven, best-in-class real-time payment offering that will speed innovation and adoption of digital commerce and have a wide-ranging economic impact. The implementation of real-time payments is complex as flavors differ across regions. The collaboration confirms FSS expertise and capabilities in delivering world-class payment infrastructures and services at scale around the world.”
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