FSS Card Management System Powers SBI’s One Nation One Card Vision

 State Bank of India, the country’s leading public sector bank,has partnered with FSS (Financial Software and Systems), a leading global digital payment and financial technology company, to implement first of its kind One Nation One Card program and accelerategrowth of digital payments at mass-scale.

Traditionally, each transitprovider has installed proprietary card acceptance solution, (e.g. each public transit operator in the country deployedits own solution). In a rapidly urbanizing economy, the fragmentation has resulted in limited adoption of cashless solutions. The National Common Mobility Card program assures interoperability, aspan-India, customerscan pay for transit services and daily purchases using a single card.

FSS through its prepaid digital solution has enabled the bank in issuance of Tap and Pay(contact and contactless) cards.The Common Mobility card functions as a digital prepaid account for multi-modal transitcoupled with a standard debit card for account-based transactions at ATM, POS and e-commerce channels. Commutersno longer need topaycash at toll stations andticket kiosks orlock monies acrossmultipletransit cards. Rather cardholderscanloadmonies, into the store value account andaccess fare funds by tappingtheir card on the terminal reader, improving transacting ease and convenience.

Speaking on the occasion, Suresh Rajagopalan, President, Retail Payments, FSS stated; “FSS is a market leader in card issuance in India, with a 70% market share in volume terms.We are excited tobuild on our leadership position and bringinnovativedigital payments experiences to consumers through our partnership with the State Bank of India.The One Nation, One Card program, is a significant stepin realizing the Digital India vision bybringing acriticalmass of micro-transactions into the digital fold.”

The underlying card issuanceplatform powering the One Nation One Card program manages cardissuance, transaction clearing and settlement. The functionality spans the complete gamut of issuing capabilities including registration, verification, card issuance, top-up of funds into prepaid wallet, card lifecycle management, as well as reconciliation and reporting to help banks efficiently manage their card portfolios. The card issuance platform brings significant efficiencies, as it mitigates operational overheadsassociated with issuance and support of multiple cards.

The digital prepaid solution supports operator specific applications e.g. monthly passes and season tickets. Card issuers can load, delete and amend applications on the card, enabling issuers to tailor cards at the time of issuance as well as load supplementary applications, later.

The solution supportstransactionauthorization, clearingand settlementfunctions forparticipant entities. Transit merchantswhere “speed at checkout” is imperativecan authorize transactions offline instantly. Commuters merely must tap their cards at the turnstile and the transaction is completely instantly allowing the transaction to be settled later.The digital prepaid solution supports multiple fund sources including bank accounts, cash deposits at authorized pints of presence, and card to wallet transfers, providing customers increased convenience to load accounts. Customerscanalso withdraw cash at designated tollpoints and outlets. The system is PCIDSS 3.2 compliant and supports a sophisticatedsecurity module configured to the bank’s security guidelines