BROOKFIELD (dpa-AFX) - Fiserv, Inc. (FISV), a global provider of payments and financial services technology solutions, on Wednesday announced that it has entered into a collaboration with National Payments Corporation of India, that operates the retail payments and settlement infrastructure in India to enable the launch of 'nFiNi', a ready stack of services that fintechs and banks can use to issue RuPay credit cards.
nFiNi will power RuPay cards by offering access to services through the NPCI network and FirstVisionTM from Fiserv. The microservices-based platform-as-a-service has a set of APIs that supports orchestration of the digital user experience, enables push alerts for in-app, mobile messaging app and SMS notifications, simplified integration options, and instant digital card provisioning, allowing customers to transact immediately after being approved for a card.
The program is expected to accelerate the penetration of RuPay cards as well as credit in the market in both urban and rural areas. It is also expected to help in seamless integration of products and services and drive economies of scale for fintechs and banks. Fintechs will be able to issue credit to their customers, many of whom are first-time users of banking and credit services, and banks will be able to grow their fintech portfolio while maintaining focus on their core offerings.
FISERV closed trading on Tuesday at $115.00, down $0.66 or 0.57 percent from previous close.
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