FSS has established a powerful presence in the payment technologies supplier market place in the GCC, and its options are utilized by more than 40 banks in the area. Representative imageFinancial Software and Systems (FSS), a Chennai-primarily based payments technologies business, has announced that it is expanding its footprint to strengthen digital payment capabilities in Saudi Arabia. Kingdom of Saudi Arabia (KSA) is amongst the sophisticated digital payment economies in the GCC, with development fuelled by a mixture of strategic investments in developing digital infrastructure and enabling regulatory policy framework.
KSA has set an ambitious target to obtain 70% non-money transactions by 2030, opening promising income possibilities for established banks as properly as FinTech players. FSS, with its digital assets on the issuance and the acquiring side, plans to enable tier a single banks and processors in Saudi Arabia to accelerate digital transformation initiatives —aligned about Vision 2030, mentioned a release by the business.
Krishnan Srinivasan, worldwide chief income officer, FSS, mentioned: “To deepen digital payments in KSA, it is important for each payment ecosystem player to understand the potential and determine its unique winning approach. That is where FSS as a processor as well as an enterprise-grade payments technology company can make a monumental difference to KSA’s payment vision. We are making significant investments to bring innovative digital payment solutions tailored to the needs of the KSA market as well as building a strong network of local partners to strengthen our delivery and support capabilities in the country.”
FSS has established a powerful presence in the payment technologies supplier market place in the GCC, and its options are utilized by more than 40 banks in the area. In KSA, the business presently performs with major acquirers and has signed bargains with in-nation channel partners to strengthen its go-to- market place tactic.