Banking
India Post Payments Bank Deploys FSS Payment Stack to Scale Financial Inclusion
Published by Gbaf News
Posted on September 18, 2018
7 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Gbaf News
Posted on September 18, 2018
7 min readLast updated: January 21, 2026
India Post Payments Bank Deploys FSS Payment Stack to Scale Financial Inclusion
• Enabling payment solutions for the India Post Payments Bank to extend payment services at the doorstep at every district, town and village in the country.
• Empowers a wide ecosystem for multiple consumer segments with convenient banking and transaction products
• Association combines reach of India Post Payments Bank with FSS deep technology expertise
India Post Payments Bank, the country’s largest digital-first bank is leveraging Financial Software and Systems (FSS), a leader in payments technology and transaction processing systems through their Payments-in-a-Box solution to bring a wide range of affordable, quality banking and payment services to financially underserved customer segments – especially rural households, small and medium enterprises and women.
India represents one of the largest market opportunities for payments totaling USD 1 Trillion by 2023.
The ongoing technology revolution combined with enabling regulatory policy framework and the Indian government’s strong push to digitalize the economy is fast transforming the country’s payments landscape. Currently, 800M Indians have bank accounts, creating a ready market of consumers eager to partake new products and services.
With FSS Payments-in-a-Box, India Post Payments Bank can leverage its extensive postal delivery network comprising 150,000 access points to tap this massive potential and grow market share. FSS Payments-in-a Box comprises a comprehensive set of solutions to bring customers and everyday merchants into the digital payments mainstream, generating critical network effects for furthering adoption and usage.
Specifically, this includes omni-channel payment acceptance, transaction processing and smart reconciliation capabilities to manage the customer and merchant relationship across all transacting channels and through the payment lifecycle. Additionally, FSS assumes a single mantle of responsibility for complete back-office operations, enabling the bank to maintain operational efficiencies and optimize costs.
Speaking on the partnership, Mr. Nagaraj Mylandla, Chairman and Managing Director, FSS stated; “ As a technology company, we have a 27-year demonstrable track record of innovation and successful delivery of large-scale payment projects for Central regulators and leading banks globally. We are proud to partner with the India Post Payments Bank to bring innovative digital payment products that would have a far-reaching impact on the growth of digital payments in the country and contribute to the government’s Digital India vision.”
Commenting on the association, Sh. Suresh Sethi, MD & CEO India Post Payments Bank stated; “The aim of India Post Payments Bank is to build the most accessible, affordable and trusted bank for the common man and to spearhead the financial inclusion by removing the barriers for the unbanked and underbanked population. FSS’ technology solutions are powering us towards achieving our objective to build a less cash ecosystem by enabling last mile digital payment services.”
FSS Payments-in-a-Box enables India Post Payments Bank to digitize every touch point in customers’ financial lives to make payments using a range of channels and instruments.
The India Post Payments Bank is enrolling billers and merchant’s country-wide to create a wide acceptance network where consumers can make payments. Using FSS Omni-channel acquiring solutions the bank is enabling micro-merchants to accept payments over any channel – Online, UPI, QR Codes, Aadhaar and IPPB accounts. At the backend, FSS Merchant Management and Merchant Settlement Solutions streamline all aspects of merchant management including on-boarding fee calculation, reconciliation and settlement.
Other solutions include FSS ACS, FSS Payment Processing and Switching and FSS Smart Recon. FSS ACS (3D Secure) fosters trust in online transactions by authenticating customer identity and delivering a smooth transaction experience. FSS Payment Processing and Switching (FSS IMPS Gateway and Financial Switch) provide routing, authentication and authorization services for all payment transactions. FSS Smart Reconciliation Solutions (FSS Smart Recon) supports reconciliation-related activities for various interbank transaction channels i.e. Micro-ATM, POS, IMPS, APBS, NACH, UPI, Mobile Banking.
India Post Payments Bank Deploys FSS Payment Stack to Scale Financial Inclusion
• Enabling payment solutions for the India Post Payments Bank to extend payment services at the doorstep at every district, town and village in the country.
• Empowers a wide ecosystem for multiple consumer segments with convenient banking and transaction products
• Association combines reach of India Post Payments Bank with FSS deep technology expertise
India Post Payments Bank, the country’s largest digital-first bank is leveraging Financial Software and Systems (FSS), a leader in payments technology and transaction processing systems through their Payments-in-a-Box solution to bring a wide range of affordable, quality banking and payment services to financially underserved customer segments – especially rural households, small and medium enterprises and women.
India represents one of the largest market opportunities for payments totaling USD 1 Trillion by 2023.
The ongoing technology revolution combined with enabling regulatory policy framework and the Indian government’s strong push to digitalize the economy is fast transforming the country’s payments landscape. Currently, 800M Indians have bank accounts, creating a ready market of consumers eager to partake new products and services.
With FSS Payments-in-a-Box, India Post Payments Bank can leverage its extensive postal delivery network comprising 150,000 access points to tap this massive potential and grow market share. FSS Payments-in-a Box comprises a comprehensive set of solutions to bring customers and everyday merchants into the digital payments mainstream, generating critical network effects for furthering adoption and usage.
Specifically, this includes omni-channel payment acceptance, transaction processing and smart reconciliation capabilities to manage the customer and merchant relationship across all transacting channels and through the payment lifecycle. Additionally, FSS assumes a single mantle of responsibility for complete back-office operations, enabling the bank to maintain operational efficiencies and optimize costs.
Speaking on the partnership, Mr. Nagaraj Mylandla, Chairman and Managing Director, FSS stated; “ As a technology company, we have a 27-year demonstrable track record of innovation and successful delivery of large-scale payment projects for Central regulators and leading banks globally. We are proud to partner with the India Post Payments Bank to bring innovative digital payment products that would have a far-reaching impact on the growth of digital payments in the country and contribute to the government’s Digital India vision.”
Commenting on the association, Sh. Suresh Sethi, MD & CEO India Post Payments Bank stated; “The aim of India Post Payments Bank is to build the most accessible, affordable and trusted bank for the common man and to spearhead the financial inclusion by removing the barriers for the unbanked and underbanked population. FSS’ technology solutions are powering us towards achieving our objective to build a less cash ecosystem by enabling last mile digital payment services.”
FSS Payments-in-a-Box enables India Post Payments Bank to digitize every touch point in customers’ financial lives to make payments using a range of channels and instruments.
The India Post Payments Bank is enrolling billers and merchant’s country-wide to create a wide acceptance network where consumers can make payments. Using FSS Omni-channel acquiring solutions the bank is enabling micro-merchants to accept payments over any channel – Online, UPI, QR Codes, Aadhaar and IPPB accounts. At the backend, FSS Merchant Management and Merchant Settlement Solutions streamline all aspects of merchant management including on-boarding fee calculation, reconciliation and settlement.
Other solutions include FSS ACS, FSS Payment Processing and Switching and FSS Smart Recon. FSS ACS (3D Secure) fosters trust in online transactions by authenticating customer identity and delivering a smooth transaction experience. FSS Payment Processing and Switching (FSS IMPS Gateway and Financial Switch) provide routing, authentication and authorization services for all payment transactions. FSS Smart Reconciliation Solutions (FSS Smart Recon) supports reconciliation-related activities for various interbank transaction channels i.e. Micro-ATM, POS, IMPS, APBS, NACH, UPI, Mobile Banking.
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