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FSS Tech
FSS Tech
FSS Tech

Across markets, prepaid cards are a popular payment instrument, catering to a diversity of customers and needs. Issuers consequently need to anticipate and launch new products to stay ahead of the customer demand curve.

FSS Prepaid Card Management System is designed to manage the complete lifecycle of cards and benefits from the company's experience of serving 25+ leading institutions globally

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Prepaid cards processed globally

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Leading global issuers bank to manage their card programs


Scalable to support card requests daily on a single deployment

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Cards migrated for a leading global financial institution
FSS<span> Prepaid CMS</span>
FSS Prepaid CMS

FSS's prepaid card solution supports registration, verification, card issuance, profile and card data management, card lifecycle management, as well as administration and reporting.

A Card for Every Need

FSS Prepaid Card Management System supports the issuance of GPR cards -a popular card category segment among cardholders.

  • Supports co-branded and private open or closed-loop card programs
  • Supports a range of channels for activation and top-up
  • Enables issuance of multiple cards linked to a single bank account
  • Option to transfer monies from card to any instrument (card, bank transfer, wallet)
  • Rich dashboards for issuers, partners, merchants and cardholders
  • Supports added value services like cardholder portal, reporting, and analytics (card and liability summary, spend analysis, remittance summary)
  • Enables interactive alerts for account spend activity through SMS, email notifications, fraud alerts
  • Lock, block and unblock functionality for lost and stolen cards

FSS Prepaid Card Management System digitizes wage disbursal via support for closed-loop as well as open-loop payroll cards.

  • Provides corporate portal for managing the payroll program, fund employee accounts, and create personalized reports
  • Supports issuance of non-personalized cards as well as personalized cards
  • Built-in card inventory management with the ability to order inventories via scheduled requests
  • Provides the option to top-up cards using multiple bank accounts
  • Employee portal with flexibility for account control, interactive alerts, and self-service options
  • Allows customers to rollout corporate expense cards by multiple employees using a single account

Travelers prefer prepaid forex cards due to the ability to lock the currency exchange rate at the time when the money is loaded, protecting them from currency fluctuations. Prepaid forex cards enable issuers to tap into the growing global travel market and attract high net-worth corporate international and leisure travelers. The key functionality includes:

  • Built-in multi-currency functionality with the convenience of multiple purses
  • Configurable pricing model offers innovative pricing plans to maximize revenues including the currency transfer fee, overseas ATM fee, and foreign exchange fee
  • Customer portal provides flexibility with the definition of transaction rules such as transaction type, time of month or year, Channel- ATM, POS and online, country, spend limit to prevent suspicious transactions and maintain service integrity
  • Compliant with anti-money laundering standards and KYC rules
  • Enables creation of segment-specific loyalty propositions like global student ID, payment card through integration with third-party loyalty systems
  • Set spend limits based on a range of variables –currency, country, and merchant level

Gift cards enable issuers to incentivize higher customer spending and lower customer acquisition costs.

  • Supports open loop and closed loop gift card programs
  • Enables issuers to assign usage privileges e.g., merchant locations and transaction amounts
  • Interfaces with merchant and loyalty aggregator systems to offer a greater choice of merchant locations to incentivize consumer usage
  • Enables bulk issuance of gift cards by issuers for distribution through merchant outlets, agents and corporate partners
  • Enables mass customization to differentiate card programs and create customer delight
  • Dynamic dashboards to monitor the business performance of each card program
  • Supports re-issuance in event of lost, misplaced, or defaced cards

Mutual fund prepaid cards provide the benefits of mutual fund investments along with the convenience of a prepaid card.

  • Supports open or closed-loop mutual fund prepaid card programs
  • Supports linking of multiple schemes and plans with a folio number attached to a single prepaid card
  • Supports multiple channels such as ATMs, POS terminals, and online for investment
  • Enables issuance of personalized and non-personalized cards linked to a primary scheme
  • Supports balance Inquiry, cash withdrawal and transaction purchase from any selected scheme attached to the card
  • Provides built-in convenience of multiple purses for expense and budget management
  • Provides customers with the flexibility to define the daily limit of ATM, POS, and online transactions
  • Lock, block and unlock lost and stolen cards

Social benefit prepaid cards aid issuers to lower disbursement costs efficiently and reach last-mile unbanked and underbanked beneficiaries with zero fund leakage.

  • Supports assisted (bank branch) and self-channels (self-register kiosk or online) for beneficiary registration
  • Provides integration capabilities with a third-party KYC module for smooth compliance and functioning
  • Configuration of transaction controls- value, volume, velocity limits- based on time of day, week or year, delivery channel, card type, channel- ATM, POS, and online
  • Manages, tracks, monitors, and automatically generates inventory replenishment requests
  • Provides distribution portal to raise requests, view card inventory positions and transactions
  • Supports standard accounting functions with financial statement generation at the end of the day for reconciliation and settlement needs

Smart transit cards enable issuers to broaden the cardholder base by digitalizing daily category spending.

  • Support debit and prepaid functionality on the same card
  • Provides support for a dip, swipe, and contactless (Tap & Go) functionality
  • Complies with PayPass and PayWave specifications for contactless payments
  • Supports one nation one card concept in India
  • Supports smart city model with usability at different modes of transit and channels - ATM, POS, and e-commerce transactions
  • Provides configuration of top-up modes with the availability of multiple channels such a as self-service kiosk, retail location, and online
  • Multiple purses mapped to a single card eliminate the need to carry different cards for different purposes
  • Robust transaction processing engine with rule-based setup for parameters like merchant ID, merchant category code (MCC) and geographic location

Our Experience

FSS has extensive experience in successfully implementing greenfield installations as well as large-scale replacement projects.

On our largest migration project for a leading Asian Bank, we have successfully migrated data of 13M prepaid cardholders enabling them to move away from legacy deployments and ramp-up operations.

FSS powers prepaid card issuance for the second-largest processor in the US with 192M transactions annually.

FSS is working with one of India’s leading public sector banks to implement the first of its kind common mobility transit card with Tap and Pay (contact and contactless) capability, facilitating millions of Indians to pay for transit services as well as make daily purchases using a single card.

FSS is working with a leading issuer in Africa to manage credit transfers to low-income individuals. FSS rolled out its Prepaid Card Management solution within a record 21 days, benefitting 17.5M low-income beneficiaries, who depend on the grant for meeting basic needs.

Key Capabilities

Single card system – Multiple uses
Single card system – Multiple uses

Supports parameterization of critical business functions to provide complete flexibility to users to launch new products and swiftly respond to evolving business trends.

Enables launch of a wide range of card products tailored to needs of multiple sub-segments with a differential fee, top-up limits, set up channel rules, transaction thresholds to easily customize offerings across market segments.

Multi-currency support
Multi-currency support

Built-in multi-currency functionality improves margins on mark-up, as currency conversion is handled by the issuer rather than the payment scheme.

Multi-channel enrolment
Multi-channel enrolment

Supports assisted and self-channels for customer registration. Customers can walk into the bank’s branch, self-register at a kiosk or enroll online instead of performing an online top-up.

Multi-institution support
Multi-institution support

Provides flexibility to processors to manage card programs for multiple institutions on a single shared platform.

Multi-purse support
Multi-purse support

Access to multi-purses on a single card, with an option to load any purse, enables issuers to launch bundled services.

Balance management
Balance management

Provides flexibility to load prepaid cards using real-time funding, automatic top-up through batch processing or batch upload.

Generates requests to refund cardholder amount at the time of closure and configure fee reversal.

Rule-based transaction controls
Rule-based transaction controls

Allows issuers to flexibly define transaction rules - based on a range of parameters - value, volume, and velocity - to prevent suspicious transactions and maintain service integrity.

Connect web services layer
Connect web services layer

FSS Prepaid Connect, a web services API layer, exposes a broad range of APIs such as pre-issuance, issuance, and post-issuance transaction processing to ensure rapid integration with external systems.

Third-party wallet apps can consume APIs exposed by FSS Prepaid Card Management System to provide store value account functionality to end-customers.

Simplified service management
Simplified service management

Easy to use self-service portals for multiple users - agents, branches, customers, corporates, and customer care.

Dashboards for Improved business decisioning
Dashboards for Improved business decisioning

Customizable dashboards for insights into card program with various reports including card summary, liability summary, transaction summary, transaction details, spend analysis and daily detailed reports.

Benefits We Deliver
FSS Tech

Associated Products and Services

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End-to-end prepaid issuance and processing

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