Overview
FSS’ comprehensive payments portfolio enables Banks, Central Regulators, Governments, Financial Intermediaries, Merchants and Payment Associations To leverage opportunities in today’s dynamic digital world..
Quick Facts & Stats
Our credentials are the cornerstone
of our reputation
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800M+ Debit Cards Issued Globally
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130M+ Prepaid Cards Issued globally
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1B+ Payment Gateway Transactions
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27K+ ATMs Managed
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9B+ Records Reconciled Annually
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Asia’s Largest Integrated Payment Hub
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600M+ Mobile Banking Transactions Annually
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3B+ Payment Transactions on
FSSNeT Annually -
Asia's Largest IMPS Processor with 30% Transaction share
- Headquarters India
- Year founded 1991
- Customers 150+
- Countries 25+
- Global Offices 8
Over 150 clients
in more than
25 countries

Board of Directors

Nagaraj Mylandla
Founder, Chairman and Managing Director
Mylandla is considered a pioneer in the payments industry. His achievements include the implementation of Transaction Processing and Switching Solutions for over 60 customers worldwide. He is also credited with establishing the FSS’ own ASP network - FSSNeT, Which enabled a nationwide shared ATM network in the mid-1990s.
As the leader at the helm of FSS and face of the company, Mylandla has Molded FSS as a technology services provider with comprehensive expertise across the payments ecosystem.
Leading from the front with foresight

Rudhraapathy J
Wholetime Director
Rudhraa has over 25 years of management and technical experience in Banking, Securities, IT and the Payments industry. Prior to joining FSS, Rudhraa has held strategic positions at India Switch Company (ISC) and Indian Bank.
Rudhraa joined FSS in 1997 and since then, has played an integral ‘pillar’ role in consolidating FSS’ market leadership position. He initially took on the responsibility of building a customer base and setting up the FSS Development Centre in Mumbai, India. Currently, he is a Wholetime Director at FSS and shoulders the responsibility of overall business development and strategic alliances.

Sharada Mylandla
Wholetime Director
Sharada comes from a unique background of Advertising and Communication Development. During the earlier days of her career, she has consulted top advertising firms like Ogilvy & Mather, Mudra, Rediffusion DY&R and Euro RSCG.
Sharada strongly believes that technology must act as an extension of the people using them, helping make their lives simpler. Creative, passionate, acute observer, empathiser, discoverer and deep-thinker are some of the words that could be used to describe Sharada’s lively personality. At a personal level, she is very keen on helping FSS’ women employees make a mark in their careers.

Bask Iyer
Independent Director
Bask Iyer is the CIO at VMware. He joined VMware in March 2015 and now leads its global information and technology organization, a group that manages critical technology systems supporting the company’s worldwide business operations. In August 2018, Iyer added the responsibility of General Manager, Edge/IoT for Dell Technologies. From December 2016 to August 2018, he also held the role of Chief Information Officer for Dell.
A respected industry veteran, Iyer brings more than 25 years of experience in executing and driving change in traditional Fortune 100 manufacturing companies and Silicon Valley-based high technology firms. Prior to joining VMware, Iyer served as Senior Vice President and Chief Information Officer at Juniper Networks, where he was responsible for the company’s technology and business operations, which included critical services around business transformation, global business services, IT and real estate, and workplace services. Before joining Juniper Networks, he served as Chief Information Officer at Honeywell, and Chief Information Officer at GlaxoSmithKline Beecham for Consumer Healthcare Research and Development, where he was also the company’s e-commerce leader. Iyer holds a Bachelor’s Degree In Mechanical Engineering from Annamalai University in India and a Master’s Degree In Computer Science from Florida Institute of Technology.

Bala Deshpande
Director
Bala Deshpande is the Senior Managing Director of New Enterprise Associates (India) Pvt. Ltd based in Mumbai and is responsible for creating and building the India platform for NEA. Before joining NEA, she served as a Senior Director of Investments at ICICI Venture where she used her operational experience to identify opportunities for investment and played a strategic role in shaping the future of investee companies.
Bala has been a Director in several companies including Pantaloon Retail, Air Deccan, Nagarjuna Construction, Welspun, TechProcess Solutions, Info Edge etc. Her private equity experience has seen the full cycle from nurturing young companies to executing multiple exits including IPOs, buy-backs, strategic sales, and capital market divestments.
In addition, Bala has worked with leading multinational companies such as Bestfoods, Cadburys, and ICI. At Bestfoods, she was part of the Strategic Planning Team and was nominated for the Women Leadership Forum held at Bestfoods, New York.
Bala has a master’s degree in Economics and Business Administration from Jamnalal Bajaj, Mumbai.

Srinivas Chidambaram
Director
Srinivas Chidambaram is the Managing Director of Jacob Ballas Capital India Pvt Ltd. (JBC) and is responsible for fund investments, day to day operations of the company and supervising the management team.
Srinivas joined JBC in 2005. He has 21 years of financial services and industry experience, including 13 years of private equity experience in India. From 2001 to 2003, Srinivas worked with HSBC Private Equity (Asia) Ltd, Hong Kong, responsible for private equity investments in India and South East Asia; previously, he served with its affiliate in India for six years, based in New Delhi. From October 2003 until March 2005, he served with HCL Technologies Ltd, a leading Indian IT services company, in the USA and in India, responsible for financial institution relationships and strategic alliances in the investment banking technology and operations division.
Srinivas commenced his career with SRF Finance Ltd. (since acquired by GE Capital) where he was responsible for Corporate Finance and Investment Banking, based in Bombay. Srinivas holds a Bachelor of Commerce degree from the University of Kerala and is a qualified Chartered Accountant.

Rahul Garg
Director
Rahul Garg is a Principal at PremjiInvest, where he is a part of the investments team looking at PE and Mezzanine Investments in BFSI (transaction processing and payment solutions), Agri & Food processing, Retail, Domestic Consumption and Conventional Power.
Rahul has worked at ICICI Bank in various profiles including AGM - Corporate Banking, Head Origination - Equity linked Products, Team Leader - Structured Trade & Treasury Products, RMAG and others. Rahul is also a Non-Executive Director at Future Retail Ltd., since August 09, 2018.
Rahul holds an MBA Finance from MDI Gurgaon and B.E. (Mechanical Engineering) from Delhi College of Engineering.
FSS Team

V. Balasubramanian
Chief Executive Officer, FSS CashTech
V. Balasubramanian has more than 3 decades of experience spanning across various industries with expertise in expansion and scaling up. He is the evangelist for ATM services, & Director at CATMi, at FSS, Bala takes care of Merchant &Terminal Businessand plays a strategic role in P&L management, strategy, operations, M&A and globalization, business expansion and market leadership.He has had many significant achievements in his career till date. Bala was instrumental in setting up inter-firm comparison and benchmarking for the software industry..
With his extensive cross functional experience in project management, business process re-engineering, and consulting,across various industries he has made organizations to leapfrog. He scaled up FSS from a 200 Cr to 1100 Cr firm. His other key milestones include expansion of Aptech’s global footprint to 52 countries, thus making Aptech a leader in many countries including China, Nigeria, Vietnam. He also expanded Zensar & KEC globally penetrating markets of UK, Europe, Africa, Middle East and Asia.
Bala has been a key figure in FSS’ aspiration of being a technology leader in the payments industry and scaling up to meet aggressive growth demands. He is graduate in Mechanical Engineering and holds post graduate diploma in graduate in Industrial Engineering&Materials Management and OWP from IMD, Lausanne.
Apart from all the hefty roles at work, he also likes to enjoy his quality time playing some good golf with his pals.

K.Srinivasan
Chief Operating Officer, FSS PayTech
K. Srinivasan, popularly known as KS, in the business circle, is a passionate leader with over 25 years of experience, known for defining the mission and sales goals, consistently exceeding expectations. KS will be strategizing and leading the Global Sales, Customer Management & Experience, Service Delivery, Pre-Sales and Bid Management engagements for FSS. In short, he will be responsible for both the Top and Bottom line for the company. In his earlier stint, he was the President - Global Strategy and Sales, Intellect Design Arena, responsible for driving the growth and strategic initiatives. He has spent ten years in the United States, while at Intellect, building a strong reputation for developing New Business and Joint Ventures, and growing existing business for the company.
Apart from shaping significant transformations for Banking, Financial & Insurance Technology deals for companies. KS also took the lead in setting up the Digital India team for Intellect to pursue Digital transformation initiatives of Government of India, for prestigious mission program, Government Electronic Marketplace (GeM). Intellect Design Arena, selected as the Managed Services Provider (MSP) for the prestigious project GeM, Ministry of Commerce is a direct outcome of his leadership.
Over the long association with Intellect (formerly known as Polaris Financial Technology) since 1996, he has built a strong reputation for the brand. He has also worked with SunTec for three years, as the Global Sales Head.
He holds an honours degree in Physics and a Post Graduate in Management (MBA) from XIMB, a leading Indian Business School. He graduated the Global Leadership Program from Conscious Leadership Institute with sessions in Poland, Sao Paulo & Los Angles amongst other several leadership training programs including Kelloggs& Indian School of Business. With his peripatetic career, he has travelled over 62 countries.

Sathish N
Dy Chief Product Officer
Sathish is an agile techno-functional product expert with over 20 years of experience in the fintech space and has launched globally recognised products. A natural leader who has worked with Banks and Technology partners across the globe on a wide array of banking products in various leadership roles strategizing the way forward for the organisation along with taking care of revenue and P&L responsibilities. His two decades of experience covers a diverse customer base across US, EMEA, APAC & SAARC.
Currently, he heads the product division as the Dy.CPO at FSS. He is responsible for the Product- Strategy, Vision, Engineering, Marketing, Product Management Office globally across all product lines including Acquiring, Issuance, Smart Backoffice, Digital Security, eFinclusiv, Digital Retail Payments, Analytics and Data Science. Prior to FSS, Sathish has worked as SVP & Head Digital Core - Strategy & Transformation in SunTec Business Solutions. His other stints include leadership positions at Oracle Financial Services Software Ltd and CITIL Citicorp Information Technology Ltd.
Sathish aims at bringing new market relevant products using the right combination of latest technologies. Sathish is a thought leader with an innovative mindset; he has authored Whitepapers and Blogs on Open Banking and Digital Transformation. A curious learner, and keynote speaker in areas on Customer-centric Hyper-personalization, Digital transformation, Product innovation ideas for Banks, also he has recently applied for a patent in Customer Experience Design, product innovation framework for product managers within banks.
On the personal front, he is an avid golfer, a nature enthusiast, and a volunteer of wildlife conservation who enthusiastically participates in tree plantation and enjoys wildlife photography. He also enjoys driving into the unknown on his 4x4 for tranquil and bird watching. Amongst all these he is also an ardent fan of Team Mercedes, F1, a die-hard foodie and a decent cook.

Sankarnarayan Lakshmanan
Chief Information Officer (Technology & Infrastructure)
As a technologist and innovator, Mr. Sankarnarayan Lakshmanan has over two decades of experience working in Financial Services' automation area cutting across Payments, Retail Banking, Corporate Banking, Securities & Wealth Management.
Over the last 15 years his specialty has been architecting solutions for Banks and other Financial Institutions in the Payments space while evangelizing, deploying, and managing SaaS / Services model in a 24 x 7 environment. He focusses on reducing IT operational costs while increasing quality and productivity leveraging enterprise automation and digital adoption across the board.
Sankar spent 14 years in Singapore half of which he spent working for companies like NCR and S1 and other half was spent as an entrepreneur . In 2010, he returned to India and joined Tata Group, where he had worked as CTO with Tata Communication subsidiary TCPSL and then Tata Capital. In his previous role, he was CTO/CIO of Hitachi Payment Services Pvt Ltd before joining Financial Software and Systems (FSS). Sankar has lived and worked in many countries brings with him good knowledge of international markets and their own unique business culture.
He completed his B.Tech (Hons) from IIT Kharagpur and MBA for Executives from INSEAD France/Singapore.

Sivakumar G
President – Finance
Ganapathy Sivakumar (SG) is the President – Finance at FSS, he has been an integral part of FSS’ growth and transformation journey for over 19years. From setting up FSS’ subsidiaries in USA, Canada, Dubai, Singapore, Australia, England, South Africa, and the Netherlands to become a Board member in the subsidiaries of FSS, SG has been there in every aspect.
With his rich experience of handling strategic litigation before Indian Courts & International Arbitration Centres and settlement of disputes, SG has pioneered and spearheaded various process improvements, technology changes,debt fund raising, contract drafting and negotiations with private equity firms and banks and has brought in innovation within the Organization, including the reorganization of the finance function to integrate and align with the changing business landscape of FSS.
SG is a qualified Chartered and Cost Accountant, with around 28years of experience handling costing for composite textile mills and leather manufacturers from his previous stints. He holds a passion for teaching and has been the faculty member of costing in a reputed institution in the past.

Subramaniam V
VP & Head Corporate Development
Subramaniam Venkatraman (Subbu) is an accomplished corporate professional with 23+ years of experience in corporate finance, corporate strategy, business finance, management consulting, due diligence and audit. Subbu has an expert understanding of the payment ecosystem covering all delivery channels and with specific emphasis on revenue drivers, cost drivers and market dynamics.
As VP - Corporate Development, Subbu heads the function and is responsible for driving the organization towards value maximisation for all stakeholders through strategic initiatives including new business initiatives, new markets, business and organization restructuring, employee stock incentive plans and inorganic strategy. His areas of expertise include Corporate strategy, Fund raising, Investor relations, M&A, MIS and Business Finance. While being part of the leadership team he has many accomplishments to himself, like, leading multiple rounds of equity funding of over USD 120 million, successfully consummating cross-border M&A deals, being instrumental in the organisation restructuring exercises, being a core member in numerous contract wins in India and around the globe, along with being a key contributor for the Company to foray into new products and markets.
With a stint of more than 16 years at FSS, Subbu has been an integral part of FSS’ growth. Subbu is a commerce graduate and a qualified Chartered Accountant and Cost & Works Accountant. Prior to FSS, he was associated with KPMG for 4+ years. Along with strategizing FSS’ success, he also likes to participate in marathons and just run to beat the odds.

Awards
A testimony of our commitment to customers
Best Payments Processor of the Year
9th Payments Industry Awards, Kamikaze Media
Best Payments Business for a Bank
9th Payments Industry Awards, Kamikaze Media
Best Payments Technology Provider
at The Next 100 Global Awards (Global Banking and Finance Awards 2021)
Best Security Solution - FSS Secure3D
at ETBFSI Excellence Awards 2021
Best Card Issuance Technology Provider South Asia 2021
at Global Banking and Finance Awards 2021
Best Financial Inclusion Payments Initiative
at Emerging Payments Awards 2021
FSS Embark wins the Best Omni-Channel Acquiring Platform-as-a-Service
at The Technoviti Awards 2021
FSS wins the Best BFSI Brand 2021
at The Economic Times Best Brands 2021
FSS wins the Best Integrated Payments Technology Provider India 2021
at The Global Banking and Finance Awards 2021
Best Payment Hub/Wholesale Payments Implementation
at IBS Intelligence – Global FinTech Innovation Awards 2020
Best Banking Card Service Provider of the Year for FSS Prepaid CMS
at Payments and Card Awards 2020
Best Online Payments Solution of the Year for FSS Payment Gateway
at Payments and Card Awards 2020
Best Digital Baking Solution of the Year for FSS Omni-Channel Banking
at Payments and Card Awards 2020
Top Reconciliation Solution Providers – 2020
at Banking CIO Outlook
Best Back Office Innovation Southern Asia 2020 for FSS Smart Recon
at the 10th Global Banking & Finance Awards
Best Back Office Innovation India 2020
at the 10th Global Banking & Finance Awards
Fastest Growing Payment Solution Provider Middle East
at the 10th Global Banking & Finance Awards
Best Alternative Digital Payment Program for FSS eFinclusiv
at World Payments Awards 2020
Best Online Payment Solution for FSS Payment Gateway
at World Payments Awards 2020
FSS Voice Commerce wins the Technoviti Awards 2020
Best B2B Payments Solution Provider of the Year
at Customer Fest Leadership Awards 2020
Indian Payments Technology Transaction Processing Services Product Line Strategy Leadership Award
at Frost & Sullivan India Best Practices Excellence Awards, India, 2019
Best Online Payment Solution
at ETBFSI Excellence Awards 2019, India
Best B2B Payments Solution Provider of the Year
at Payments & Cards Awards, India, 2019
Best Anti-Fraud and Security Solution for FSS Secure3D
at Payments & Cards Awards, India, 2019
Best White-Labelled Payment Gateway for FSS Payment Gateway.
at Payments & Cards Awards, India, 2019
Best ATM Managed Services Provider of the Year
at Payments & Cards Awards, India, 2019
Best Adaptive Authentication Solution for FSS Secure3D
at Global Banking & Finance Awards, Europe, 2019
Best Online Payment for FSS Payment Gateway
at Golden Globe Tigers 2019, Malaysia
Best Prepaid Card Product for FSS Prepaid CMS
at Golden Globe Tigers 2019, Malaysia
Best Alternative Payment Solution for FSS eFinclusiv
at Golden Globe Tigers 2019, Malaysia
Technoviti Awards 2019 for Technology Innovation in Financial Services (FSS Secure3D and FSS Paynalytix-As-a-Service)
at Technoviti - Banking Frontiers, India, 2019
Best Alternative or Digital Payments Program of the Year
at Payments & Cards Awards, India, 2018
Best White Label Payment Gateway of the Year
at Payments & Cards Awards, India, 2018
Best Mobile Experience (International Fintech) Award
at Customer Experience Summit, USA, 2017
Debit Card Initiative of the Year (implemented for State Bank of India)
at ABF Retail Banking Awards, India, 2017
Best ATM Managed Service Provider of the Year
at Payments & Cards Awards, India, 2017
Best Banking Cards Service Provider of the Year
at Payments & Cards Awards, India, 2017
Best Mobile Experience Provider Award for FSS AadhaarPay
at Best in Bank Customer Experience Summit, USA, 2017
Best Alternative Payments Project for FSS AadhaarPay
at Annual Payments Awards, UK, 2017
Best Retail Payment Project for FSS Prepaid Card Management Solution (implemented for ICICI Bank)
at The Asian Banker Technology Innovation Awards, India, 2016
Technoviti Awards 2016 for Technology Innovation in Financial Services
at Technoviti - Banking Frontiers, India, 2016
Industry Associations
Global Partner and Alliance Network
Winning partnerships to foster growth
Corporate Social Responsibility
We’re payment technology professionals with a heart
At FSS, we believe profits are not all that matter. Our CSR policy is based on the principle that everyone in a society must have unbiased access to quality Education and Healthcare. And that is why we partner with leading NGOs in these domains,
enabling them to play an instrumental role in the wellbeing of financially underprivileged citizens or communities. Our associates are also proud participants in community-welfare and awareness initiatives.

Should you want to get in touch with us for CSR initiatives, please write to [email protected] with ‘CSR’ in the subject line. Please click here to see our Corporate Social Responsibility Policy.
