Fss

CMS Info Systems acquires FSS' ATM management business for ₹115 crore

CMS Info Systems on Sunday announced the acquisition of Financial Software and Systems' (FSS) managed services business for Rs 115 crore to strengthen its position in the end-to-end ATM management space. The transaction involves the transfer of operating assets and novation of customer contracts, and is expected to close in Q1 FY27, according to a statement. It will add 8,000 automated teller machines (ATMs) to take CMS' portfolio in the management solutions business, where it acts as a technology provider and operations partner for banks, to 39,000 machines. It will also add new private sector banking relationships. CMS' Executive Vice Chairman and Chief Executive Rajiv Kaul said the managed services industry is consolidating, and banks are looking to work with fewer and larger partners. "FSS' clients are exactly the kind of relationships we want to deepen, and bringing them onto our platform opens the door to serve them across our full suite of services," Kaul added. An official

Extending purview: RBI to regulate offline payment aggregators, too

Pinelabs, MSwipe, Ezetap, FSS, Hitachi payments, Worldline, etc. are some offline payment aggregators

FSS, CSB Bank to open 1,000 Smart Cash franchisees for financial inclusion

Modelled on a branch-in-a-box service concept, Smart Cash franchisees would offer affordable banking, investment, credit, and insurance products to target segments

FSS launches UPI e-voucher to advance financial inclusion

The UPI e-voucher enables customers to transfer funds for a specific purpose in real-time to any mobile number, regardless of whether the beneficiary has a bank account

FSS makes strategic investment in Ecentric Payment by picking 46% stake

Ecentric, headquartered in South Africa, a Standard Bank subsidiary, is a leading payment stitching and retail value-added services provider

FSS launches new authentication platform for online transactions

FSS Access Control Server is a Visa and MasterCard certified authentication platform