India’s FSS helps Fair Play deliver online payment acquiring
Fair Play, a new Czech ecommerce solution fintech, has chosen FSS Technologies, an Indian mobile payments solution provider, to deliver its customers online payment acquiring services.
Fair Play is deploying FSS’ Payment Gateway and Merchant Hub, which will form the fintech’s full-stack online acquiring suite – including online payment processing and transaction settlement.
FSS, which is based in Chennai and serves customers across India, Africa, Asia Pacific, Europe, Middle East and North America, hosts the payment acquiring services on FSSNeT, its global payment processing infrastructure.
This means FSS will assume “a single mantle” of accountability for authorisation, processing, clearing and settlement of all Fair Play’s ecommerce transactions.
“As a new entrant it is critical that we earn the trust of our merchants,” says Fair Play’s board head Dajnis Vasiljevs.
“The collaboration with FSS enables us to leverage its globally trusted Payment Gateway and work with a partner who understands our business.”
As well as praising its reputation in the payments sector, Vasiljevs says FSS will allow the fintech to “innovate and scale at speed”.
Head of FSS Europe, UK and America Haresh Hemrajani says “online commerce is a fast-growing digital payments segment in Europe”.
According to Statista, Czechia’s 2020 ecommerce market revenues will total to roughly $3.5 billion. User penetration is currently 77.4% but is expected to hit 82.4% by 2024.
The market’s dominating segment is fashion, which accounts for more than a quarter of Czechia’s total ecommerce revenues.
“We are excited to be working alongside Fair Play to support its expansion plans in the online acquiring space,” says Hemrajani.