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Instant is an inherent attribute of today’s connected, digital economies. Customers expect no different from their payment services. Across the world, this is catalyzing the adoption of instant payments. Many countries are investing in real-time payment rails to reap efficiency benefits from immediate transfers and to exploit new opportunities arising from an on-demand, always-on 24/7 economy.

Real-time payments will have a transformative impact on the payments market. FSS, with 29+ years’ experience in developing and running mission-critical payment processing and switching solutions, is working with regulators and banks in many countries to modernize payment rails.

Designed to cater to the universal needs of the market, FSS Instant Payments platform orchestrates connections between payment service providers including banks, challengers and electronic money institutions to create a central real-time payment clearing and settlement infrastructure for domestic and international credit transfers. These real time payment solutions provide the ability to initiate any-to-any transfers in real-time 24/7, 365 days a year, improves transaction efficiencies and generates network effects, improves payment efficiencies and generates network effects, triggering a virtuous cycle of innovation and growth.

FSS works with central regulators and ecosystem participants for end-to-end systems design and development of scheme rules, increasing the speed of deployment and ensuring the overall efficiency of the infrastructure.

Key Capabilities

Multiple payment instrument

Supports bank accounts, mobile numbers, cards and mobile wallets - for any to any value transfers.


Supports virtual addresses and enables payments to be directed to accounts using information that is easier to recall than an IFSC code or an IBAN such as a phone number, email address or a social id number.


PayConnect offers immediate, secure, round-the-clock access to the Instant Payments scheme for payment service providers as directly connected settling or non-settling participants.

APIs for services extensibility

Exposes standardized APIs for banks to connect to indirect participants as well as interfaces to banks to connect to the central network.

Multi-currency support

Supports currency conversion for cross-border credit transfers.

Message enrichment

Supports standard ISO 8583/87 and ISO 20022 message formats for financial transactions.

Flexible and easy-to-configure workflows

Define rules and procedures for bank registration, transmission of payments, fees, clearing and settlement for participant PSPs.

Clearing and settlement

Flexibility to define frequency of settlement cycles, which can be near real-time or periodic throughout the day. The Payment Hub supports multiple settlement windows and includes the ability to force settlement when a participating bank’s daily exposure limit is reached.

Risk management

Broad set of volume and velocity controls based on channel, transaction type and periodicity and to mitigate transaction and settlement risk.

Fee management

Allows configurations of various fee categories including transaction, switching settlement, adjustment and adjustment processing fee.

Exceptions handling and dispute management

Dispute Management portal with automated workflows to raise as well as view and track status of disputed transactions.

Real-time accounting, status, information, dashboards

Comprehensive statistical information available online to view real-time and historical transaction trends and settlement positions.


Multi-layered security measures including file encryption, dynamic MAC key exchange.

Orchestrate Broad Services Ecosystem

Person to Person Payments
  • Bill sharing with friends

  • Emergency fund transfer and remittances

Person to Business Payments
  • E-/M-commerce and in-store POS payments

  • Emergency bill payments or rent payments

Business to Business Payments
  • Just-in-time supplier payments (early payment discounts)

  • Immediate bill payments with E-invoicing

Business to Person Payments
  • Salary/wage payments for temporary workers or contract employees
  • Instant insurance claim payouts

Government to Person Payments
  • Emergency Disaster Payments

  • Welfare Benefits

Person to Government Payments
  • Tax Payments

  • Payment of Fines

Instant Payments for
Participating Institutions

FSS helps payment providers of all types and sizes to take advantage of and prepare for real-time payments. FSS is a proven partner to leading banks in India for Unified Payment Interface services, (India’s central payment network for fast and easy transfers). FSS delivers custom apps as well as client routing capabilities to help PSPs connect to the central payments infrastructure to affect a low-risk transition to real-time payments.

Participants can leverage FSS expertise to enhance existing payment services as well as deploy innovative overlay services that deliver real customer value. Based on regional market trends, the use cases span a wide range of tailored offerings from money transfers to QR and NFC based payments for merchants.

Benefits to Banks

Associated Products and Services


Assuring secure real time payments

Secure 3D 2.0

Win customer trust with adaptive authentication

Payment Gateway

Enabling cashless, cardless payments

EFT Switching Services

Enhance channel availability, security and agility for superior customer service ensure

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