FSS announces launch of its new payments technology platform 'Blaze'

Financial Software & Systems (FSS), a provider of payments solutions, has announced the launch of its new payments technology platform, 'Blaze'. This platform is specially designed to cater to the needs of banks and financial institutions.

FSS has revealed that its payments gateway, powered by Blaze, can process over 5,000 transactions per second (TPS). Additionally, the payments technology platform allows banks to achieve higher TPS, aligning with the increased adoption of digital commerce within the country.

"Blaze marks a significant milestone for FSS. We have created a payments industry-focused platform that will assist banks in realising their digital transformation goals. Blaze enables banks and financial institutions to provide novel and innovative payment experiences to their customers. With attributes such as scalability, security, and adaptability, this platform is poised to pave the way for the next generation of payment technologies," stated V Balasubramanian, CEO at FSS CashTech.

FSS has made the Blaze platform accessible to customers in India, the Middle East, and Africa, and has plans to introduce it in additional markets in the coming months.

"The adoption of Blaze will empower financial institutions to launch innovative payment offerings to the market at a much faster pace, enhancing their competitive edge and attracting new customers," the company said in its statement.

FSS specialises in providing an integrated portfolio of software products, hosted payment services, and other software solutions. The Chennai-based company's end-to-end product portfolio encompasses card issuance, omni-channel acquiring and merchant management, payment analytics, digital security, reconciliation and settlement, as well as ATM monitoring and management.

The company boasts an impressive record of processing over three billion transactions annually.