India Post Payments Bank has tied up with Financial Software and Systems (FSS), a leading payments technology and transaction processing systems, to offer a wide range of banking solutions to financially underserved customer segments—especially rural households, small and medium enterprises and women.
FSS’ Payments-in-a-Box solution will help India Post provide affordable, quality banking and payment services to its customers. It comprises of a comprehensive set of solutions to bring customers and merchants into the digital payments mainstream, generating critical network effects for furthering adoption and usage. The payments bank, latest to enter the market, can leverage its extensive postal delivery network comprising 1,50,000 access points to tap this massive potential and grow its market share.
Suresh Sethi, MD & CEO, India Post Payments Bank stated, “The aim of India Post Payments Bank is to build the most accessible, affordable and trusted bank for the common man and to spearheadfinancial inclusion by removing the barriers for the unbanked and underbanked population. FSS’ technology solutions are powering us towards achieving our objective to build a less cash ecosystem by enabling last mile digital payment services.”