FSS (Financial Software and Systems), a globally leading provider of integrated payment products and a payments processor, on Thursday announced its collaboration with BRAC Bank to catalyze the growth of digital commerce in the country.
This partnership will enable FSS to provide its Omni-channel Acquiring Platform to BRAC Bank to onboard merchants and enable digital payment acceptance across multiple touchpoints - in-store, mobile and online, said a press release.
According to the e-Commerce Association of Bangladesh (e-Cab), digital payments over the last three years, have recorded 100 percent year-on-year growth. The e-commerce industry is expected to grow to $3 billion by 2023, driven by growing consumer preference for online and touch-free payments.
FSS Omni-channel Acquiring Platform helps BRAC Bank to take advantage of the digital boom and accommodate new, in-demand digital and omni-channel commerce journeys.
A modular offering, FSS Omni-channel Acquiring Platform consolidates online, mobile, and in-store payment acceptance onto a single system to help the merchants expand their digital business. The platform supports a wide range of global and alternate regional payment methods and adapts to any channelor shopper journey.
Speaking on the collaboration Archit Mylandla, Executive Director, FSS said; "We look forward to collaborating with BRAC Bank in expanding its merchant payment capabilities and advance adoption of digital payments overall in Bangladesh. Our globally proven technology platform gives BRAC Bank the scalability and the flexibility needed to evolve with the market, and easily bring relevant payment experiences in the future."
Speaking on the partnership, Khairuddin Ahmed Bappy, Head of Merchant Acquiring, BRAC Bank, said, "As part of our transformation efforts, it's vital that we're working with experienced partners such as FSS who can help us rapidly scale and bring innovative service experiences to merchants. The partnership helps us to lead the development of Bangladesh's payments ecosystem and connect it with the wider region-and the rest of the world."
With the solution offered by FSS, merchants have access to an integrated payment platform that consolidates digital and physical transactions. The platform consolidates discrete channel-centric merchant operations and offers advanced capabilities that deliver superior value to merchants.
