FSS Technologies FZE, the middle-east subsidiary of FSS, a Payments and Fintech leader has launched FSS Toggle in Middle East.
FSS Toggle is an innovative and technologically advanced mobile application that allows the cardholders to manage their virtual, debit, pre-paid and credit cards and remotely controls their digital transactions from a Smartphone.
FSS Toggle is a digital fraud guard that helps Banks and Financial Institutions to lower frauds and provide complete security on all card transactions. FSS Toggle allows cardholders to tune their cards to monitor and remotely control multiple aspects of their card transactions proactively and conveniently from their phones. It allows the card holder to set controls, enable or disable payment channels like ATM, eCommerce, in-store and receive real-time alerts on all transactions.
With FSS Toggle, card users can
- set controls to customize transaction types, merchant categories and block cards where and when not needed
- lock and unlock the cards with a single on/off button that would help them gain better control
- use the geo-fencing feature to define the geographical range for the card to be active, with the help of GPS and depending on their location. This will provide the card holders with real-time protection against loss or mis-use
- opt for safe mode that would allow just one transaction and block the card from being used further. This will protect the card from high risk of being skimmed when used at unknown merchant locations
- get instant alerts, which will provide better visibility and prompt action in case of card loss or theft
- Limit the spending for both their cards and the add-on cards to manage spends
Commenting on the launch of FSS Toggle, Mr. Suresh Rajagopalan, President, Software Products, FSS said “As a fintech leader, we have been consciously and continuously investing in driving innovation to pave the way for future payment technologies. FSS Toggle is a result of our technological expertise and understanding of payments industry.
FSS Toggle is a secure product that can be seamlessly integrated to the Bank’s existing switching and card management systems. It is a powerful tool that will help Banks to offer advanced and secure solution that will enable their customers to confidentially control and manage their cards with a single tap. With the support of FSS Toggle, Banks can minimize Card Not Present (CNP) frauds and benefit from increased customer base, transactions and revenue.”
FSS Toggle won the 2016 Technoviti Awards for Technology Innovation and was ranked amongst the top 10 most promising innovations in the BFSI space in India.
Speaking about FSS offerings to the Middle East region, Mr. Philip George, General Manager, FSS Technologies, FZE said, “FSS has emerged as both a preferred and a strong alternate payments technology player in the Middle Eastern region providing digital payment gateway, reconciliation, card lifecycle management and PoS solutions in both hosted and licensed models.”
FSS today has foot print in all the GCC countries, with 7 out of the top 10 Forbes listed Banks, one of the largest third party processor four regional Switches as customers.