Canada-based Everlink Payment Services has selected card management system of the payments technology company Financial Software and Systems (FSS) in a bid to modernise its card operations.
Everlink offers payments solutions and services for Canadian credit unions, banks, and small and medium enterprises.
FSS’s Unified Card Management System will replace the company’s legacy card issuance infrastructure and allow it to better respond to the needs of the market.
As part of the partnership, FSS will utilise its solution to manage debit and prepaid cards issuance from a single platform. It will also support transaction processing and programmes for prepaid cards.
Additionally, FSS will replace the existing card issuance system with an API-based card management framework. This is said to simplify operations, minimise the total cost of ownership (TCO) and mitigate obsolescence risk.
Commenting on the partnership, FSS founder, chairman and managing directorNagarajMylandla said: “Everlink and FSS share a common vision to deliver convenient, flexible, simple payment experiences to customers. We are delighted to collaborate on this digital transformation journey helping to bring more choice and innovative services to the market.
“The Canadian market relies heavily on card spending and is digitising rapidly. It is a market where FSS is deeply committed to work with partners such as Everlink to help revolutionise customer digital experiences.”
Everlink president and CEO Mark Ripplinger added: “Consumers in Canada are rapidly adopting newer payment products, such as co-badged, prepaid and contactless cards. We needed a flexible solution, capable of modernising our card management to extend our portfolio of products and services to respond to the needs of an increasingly competitive and changing market.
“We identified FSS as a partner in this critical transformation journey for its expertise in managing complex large-scale migration projects, its modern state-of-the-art solution, and most importantly, the approach, flexibility, and the willingness of their team to work with Everlink.”
The FSS solution is set to be deployed in the fourth quarter of this year. The deployment of the system will enable Everlink to migrate to an open stack system that is said to integrate seamlessly with payment systems.
Moreover, member banks connected to the Everlink platform would benefit from automated web-based workflows to rollout card programmes.
Its dashboards and seamless interface with the core banking systems will bring significant efficiencies in terms of reduced operating and integration overhead.
In July this year, FSS added new capabilities to its Prepaid Card Management System for better cardholder experience.