FSS partners with UAE's first digital banking platform

Chennai: Integrated payments technology company FSS (Financial Software and Systems) has partnered with the United Arab Emirates-based YAP, a digital banking platform, to deliver secure, digital first-card experiences to consumers in the Middle-East and African regions.

Under the partnership, YAP and FSS would work to deliver greater value to customers by combining the FSS Unified Card Issuance Platform with emphasis on virtual card issuance and support 3D secure option.

"YAP services will initially be available in the UAE and soon be rolled in the Gulf Council Cooperation markets and Ghana," said a statement from the company.


According to a study by McKinsey, the number of digital transactions in the UAE was growing at an annual rate of more than nine per cent between 2014-2019.

"We are delighted to work with YAP on its ambitious goal to be the region's leading digital bank and making secure digital payments seamless and accessible to everyone," said CEO of FSS Jaishankar A L.

"FSS Unifed Card issuance platform powers 800 million cards globally and is designed to help world's most innovative financial institutions launch game-changing products," he said.

FSS United Issuance Platform enables YAP provision instant, open loop virtual cards linked to its wallet app with unique security features such as a unique card number and an expiry date for utility payments, said the statement.