FSS and Entrust Datacard signs deal to deliver instant card issuance in India

NEW DELHI, INDIA: Chennai-based Financial Software & Systems (FSS), a payments technology and transaction processing company has partnered with Entrust Datacard, a card issuance and personalisation solution, to provide secured, scalable and seamless card issuance in the Indian market.

With this new partnership, FSS will be offering a new instant issuance solution to financial institutions – enabling secure instant issuance of payment cards and customer-selected PINs on account opening. This deal aims to enhance the customer experience, drive cost savings and increase revenue for financial institutions by eliminating mailing costs and  giving consumers instant purchasing power.

The FSS clientele includes around 100 global banks as well as some of the processors and retailers. In India, the FSS domestic client portfolio includes over 35 banks – featuring the majority of public and private sector banks in the country. Internationally, over 70 banks, financial institutions, processors and prepaid card issuers are customers of FSS.

“With this new instant issuance solution banks will be able to issue a personalized secure card to their customers along with a “Green PIN” instantly after a new account is opened. In addition to providing the customer with ease of banking, banks will also gain immensely by saving cost and time. I am confident that all banks in the country will soon move in this direction, which I foresee as another significant step in the future of retail banking,” said Nagaraj Mylandla, Managing Director, FSS.