FSS Bill Pay

Accelerate Recurring Revenue, Keep your Customer Happy

Bill Payments are a utility service but are increasingly becoming a vital touch point for payment providers to engage customers and build long-term relationships. With advances in digital technology, customers expect seamless, friction-free payments, processed in real-time, over their preferred channels.

Today’s bill payment solutions have a renewed role in helping payment providers deliver

omni-channel billing and payments experiences that empowered customers now expect.

FSS can help payment providers achieve differentiation and leadership, leveraging its strong set of domain skills and global experience of working with incumbent and greenfield payment providers.

Designed to respond with agility to market trends, FSS Bill Pay, a full-stack, digital bill payment platform, consolidates bill presentment, payment processing, a range of added value capabilities and data insights to help payment providers differentiate their offerings and meet service expectations of empowered customer and diverse biller segments. Centred around consumers’ needs, FSS Bill Pay is built around three core principles:

The Bill Pay Promise

OPEN

Exposes APIs to embed bill payment capabilities in a range of owned as well as third party applications.

EXPANSIVE

Dedicated payment processing capability accepts payments originating from any payment instrument, channel and payment network to address a wide customer segment.

INTELLIGENT

Provides insights into customer payment patterns to optimise business performance.

Benefits At a GlanceAssured Revenue Stream

Provides a stable revenue stream due to the recurrent nature of bill payments.

Boosts Customer Satisfaction

Superior multi-channel digital payment experiences improve customer stickiness and lifetime value.

Boosts Operating Efficiencies

Alleviates cost overheads related to customer service, transaction processing, and reconciliation, improving margins per transaction.

Accelerates Collections

Improves collections and reduces days outstanding (DSO) via support for popular payment mediums.

Deliver Customer-Centric Payment Propositions

FSS Bill Pay provides flexible, easy-to-use and payment tools aligned to customers’ transacting journeys. Bills can be viewed on demand and customers can pay using their preferred payment mode through any supported channel, improving payment velocity.

Value FSS Delivers

ANY CHANNEL

Kiosk

Online Portal

Mobile App

In-Store (PoS Payments)

Voice Bots

Digital Banking

Social Channels

QR Codes

Google Wallet

Apple Wallet

RTP Rails ( UPI)

Debit + PIN

Debit +CVV

Debit + OTP

Prepaid Cards

Credit Cards

Net Banking Rails

Regional Pay Wallets

ANY INSTRUMENT

ANY PAYMENT TYPE

Prepaid

Postpaid

One-Time

Auto Pay

Full Payment

Partial Payment

Equated Monthly Instalments

School Fees

Citizen Payments

Everyday Bill Payments

Insurance

Utility Payments

ANY USE CASE

Bill Pay provides a widening array of added value capabilities, enabling payment providers to expand their customer base and deliver engaging digital experiences.

Deepens Digital Engagement with

Added Value Capabilities

Voice Bills

Transforms the payments experience by enabling customers to track and pay bills using voice bots. All transactions are protected via a Voice PIN and are verified using out of band dual factor authentication.

Single Click, Multi-Payments

Allows customers to bundle payments to diverse billers in a single transaction. At the backend Bill Pay automatically splits and settles the transaction with respective billers.

Autonomous Payments

Puts payments in an auto-pilot mode by empowering customers with a set of programmable controls – date, frequency, and amount thresholds –for auto-debiting accounts.

Scan and Go Payments

Allows customers to pay bills by scanning QR codes. Bill Pay supports payments using proprietary as well as standard QR codes including Bharat QR.

Pay By Link

Embeds a secure payment link within text messages, email, social channels, QR codes and digital invoices. The link directs customers to an FSS or an external hosted checkout page for completing the transaction using a payment mode of their choice.

Intelligent Alerts

Engages customers through the payment journey – with prebuilt notifications for upcoming, missed, or overdue payments as well as payment status and confirmation alerts.

Multi-Lingual Support

Allows customers to customize the language on invoices and checkout forms, boosting customer retention rates.

FSS Bill Pay extends multiple integration modes for rapid biller onboarding. Billers can integrate their application with FSS Bill Pay using a comprehensive set of Developer APIs and integration tools or by using standard file formats. Billers can opt for an approach that best fits their organization’s business requirements, preferred integration method, and security requirements.

Orchestrates Expansive

Biller Ecosystems

ONLINE STANDARD APIS

Supports standard API integration

kit for billers OFFLINE INTERFACE

Integration uses agreed file formats between

biller and the Bill Pay system

ONLINE INTERFACE

System integration based on specification

shared by billers

Omni-channel payment processing capabilities accept and process payments originating from in-store, mobile or online channels. Payment providers have the flexibility to integrate payment processing capabilities directly into their Bill Pay portal or opt for a branded hosted payment checkout. A dedicated transaction processing capability improves ratio of successful transactions and saves transacting costs by eliminating reliance on third party payment processing providers.

Cost-efficient Transaction Processing

Easy to integrate cross-platform payment processing capability

Custom-branded online checkout

Support for multi-instrument, multi-currency payments Native OTP

Maximizes Revenue with

Tailored Fee ModelsBill Pay offers a wide choice of models to help billers monetize their product portfolio. Bill Pay supports varied business models including one-time fee, bundled fee, fixed fee, discounted fee, freemium, subscription-fee, and metered, consumption-based fee. In addition, the system has built-in support for coupons, free trials, prorations, add-ons, and overages.

To maximize revenues, payment providers can customize fee models along multiple dimensions – periodicity, prepaid and post-paid, payment channels, biller category, individual fee profile with the flexibility to swiftly iterate models in alignment with emergent market trends.

Improves Biller Stickiness

FSS Bill Pay helps payment providers deliver an optimal services experience whilst reducing the cost to serve. A built-in mobile responsive self-service console enables billers to flexibly manage accounts, track transactions, view transaction trends, analyse business performance and raise queries and disputes.

Rationalizes Cost to Serve

FSS Bill Pay Complaints Management portal enables customers to log and track transaction and service-related complaints. Automation of complaint related workflow for faster resolution prevents churn and improves customer lifetime value.

Minimises Risk Exposure and

Protects RevenueFSS Bill Pay offers a comprehensive set of anti-fraud tools to safeguard customers and minimise risk loss. This includes:

Tailored Risk Rules

To meet business protection needs, supports custom velocity and volume checks, along a range of parameters - periodicity, biller, channel, and source IP.

Profile Billers and Customers

Set-up criterion for blocking and white-listing customer and biller profiles.

Alerts and Notifications

Monitors and flags all transaction and system related events, enabling faster detection of abnormal activity.

Integrates with FRM Systems

Interfaces with enterprise fraud and risk management tools and additional identifier databases to create risk profile for customers and transactions.

Safe and Secure

Compliant with PCIDSS 3.2 standards, Bill Pay meets established industry standards safety of information and payments.

Boost Performance with

Data-Driven InsightsBill Pay offers 40+ reports to service provider to make informed business decisions. Additionally, FSS offers Analytics-As-a-Service to help payment providers leverage transacting and operating data to boost business outcomes.

Data-Driven

Aggregate Transaction Trends

Improves sales targeting by planning sales and promotion strategies based on preferred payment methods, merchant category, time of shopping and location.

Biller Performance

Classify billers based on recency, frequency and volume of activity, collection rates, chargebacks to finetune biller acquisition and retention models.

Customer Reports

Analyse growth, churn, and retention rates with automatically generated reports to refine go-to-market strategies.

Operational Reports

Adjust strategies to reduce transaction declines as well as lower chargebacks and disputes.

Architected for Agility and InnovationFSS Bill Pay solution is a modern payments platform which is agile, flexible, and scalable.

Innovation

Designed for an Open Payments Era

An API-first application makes it easier to connect with existing front and back-office systems saving, integration costs and effort and improving time to market.

Open APIs allow payment providers to support multiple open payments initiatives, accelerating innovation via integration with external marketplaces and ecosystems opening new monetization models.

Comprehensive Componentized Payments Suite

The solution comprises three components – Bill Payments, Payment Processing and Reconciliation. Services providers can choose to implement the complete solution or necessary components in line with their business needs.

Scalable, Extensible Platform

A payments platform built for scale, which processes growing digital payments volumes, as well as enables payment providers to accelerate building complementary capabilities in line with changing industry dynamics.

Flexible Deployment ModelsFSS Bill Pay can be deployed on-site or used a service (SaaS) on FSSNeT, FSS secure private cloud. An As-a-Service model variabalises costs and offers several advantages.

Lower compliance overheads - Save on PCI costs

Seamless access to the latest innovations – without time-consuming upgrades or expensive

customizations

Accelerate time to market-Speed of integration; days not months

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Biller Management

Customer Management

Fee Definition

Self Service Portals

Dashboards

Risk and Security Management

CBS

Biller IT Systems

Recon

FSS PayPulse

Voice Commerce

ACS/Risk Modules

SMS Gateway

POS

Online

Voice Assistants

Mobile Wallet

Digital Banking

An Inside View

Financial Software and System (FSS) is a leader in payments technology and

transaction processing. The company offers an integrated portfolio of

software products, hosted payment services and software solutions built over

30+ years of experience. FSS, end-toend payments products suite, powers

retail delivery channels inclusing ATM, POS, Internet and Mobile as well as

critical back-end functions including cards managements, reconciliation,

settlement, merchant management and device monitoring. Headquartered

in Chennai, India, FSS services leading global banks, financial institutions,

processors, central regulators and governments across North America,

Europe, Middle East, Africa and APAC and has 2,500 experts on-board.

For more information, write to products@fsstech.com

About FSS