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India Post Payments Bank (IPPB) has teamed up with FSS (Financial Software and Systems), a payments technology company to enable micro-merchants to accept payments over any channel, namely; online, unified payments interface (UPI), quick-response (QR) codes, Aadhaar and IPPB accounts.
In an interview to the press, Suresh Sethi, managing director and chief executive officer of IPPB talked about the plans of creating a payments acceptance network based on QR mainly for the unorganized retail sector at the rural parts of the country.
Sethi said in a statement, “FSS’ technology solutions are powering us towards achieving our objective to build a less cash ecosystem by enabling last mile digital payment services.”
Nagaraj Mylandla, chairman and managing director of FSS said, “FSS has 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 extremely committed to this prestigious nation-building exercise with IPPB that will connect Bharat through digital payments.”
IPPB has been incorporated as a public sector company under the Department of Posts with 100% government equity and is governed by the Reserve Bank of India.
