In a bid to accelerate the growth of digital payments at mass-scale, India's leading public sector bank State Bank of India (SBI) has partnered with FSS (Financial Software and Systems), a leading global digital payment and financial technology company, to implement first of its kind 'One Nation One Card' program. Speaking on the development, Suresh Rajagopalan, President, Retail Payments, FSS stated; “FSS is a market leader in card issuance in India, with a 70% market share in volume terms. We are excited to build on our leadership position and bring innovative digital payments experiences to consumers through our partnership with the State Bank of India.  The One Nation, One Card program, is a significant step in realizing the Digital India vision by bringing a critical mass of micro-transactions into the digital fold.”

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Traditionally, each transit provider has installed proprietary card acceptance solution, (e.g. each public transit operator in the country deployed its own solution). In a rapidly urbanizing economy, the fragmentation has resulted in limited adoption of cashless solutions. The National Common Mobility Card program assures interoperability, as pan-India, customers can pay for transit services and daily purchases using a single card.

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FSS through its prepaid digital solution has enabled the bank in the issuance of Tap and Pay (contact and contactless) cards. The Common Mobility card functions as a digital prepaid account for multi-modal transit coupled with a standard debit card for account-based transactions at ATM, POS and e-commerce channels. Commuters no longer need to pay cash at toll stations and ticket kiosks or lock monies across multiple transit cards. Rather cardholders can load monies, into the stored value account and access fare funds by tapping their card on the terminal reader, improving transacting ease and convenience.

The underlying card issuance platform powering the One Nation One Card program manages card issuance, transaction clearing and settlement. The functionality spans the complete gamut of issuing capabilities including registration, verification, card issuance, top-up of funds into a prepaid wallet, card lifecycle management, as well as reconciliation and reporting to help banks efficiently manage their card portfolios. The card issuance platform brings significant efficiencies, as it mitigates operational overheads associated with issuance and support of multiple cards.