Everlink Payment Services has selected Financial Software and Systems (FSS) to deploy its solution to modernise its card operations to support future growth plans.
The Canada-based payment services provider has selected FSS solution to replace its legacy card issuance infrastructure to address the market requirements.
The deployment of FSS solution is planned to go live in the fourth quarter 2020.
Everlink provides payments solutions and services for credit unions, banks, and small and medium enterprises in Canada.
FSS founder, chairman and managing director, Nagaraj V Mylandla 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 digitizing rapidly. It is a market where FSS is deeply committed to work with partners such as Everlink to help revolutionize customer digital experiences.”
FSS will offer Unified Card Management System and transaction support
Under the partnership, FSS is expected to offer its Unified Card Management System to manage debit and prepaid cards issuance from a single platform.
The system is also expected to provide transaction processing and programs for prepaid cards, resulting in improved efficiencies for Everlink.
To simplify operations, reduce total cost of ownership (TCO) and reduce obsolescence risk for Everlink, FSS will replace the existing card issuance system with an API-based card management framework.
According to the global payments technology company, its Unified Card Management System is designed to manage the complete lifecycle of card programs and facilitates flexible configuration of card products and new programme features to improve time to market.
The solution would support all types of cards, including instant physical and virtual debit and prepaid cards and different added value products such as financial institution card controls.
The partnership is expected to benefit member banks connected to the Everlink platform, from the automated web-based workflows to launch card programmes.
Everlink president and CEO Mark Ripplinger said: “Consumers in Canada are rapidly adopting newer payment products, such as co-badged, prepaid and contactless cards. We needed a flexible solution, capable of modernizing 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.”