Integrated payment products and a payments processor provider, FSS (Financial Software and Systems) announced that its Business Support Suite enables BancNet, the Philippines ATM switch operator.
BancNet is a consortium of 124 members comprising banks, cooperatives, electronic money issuers, affiliate switch networks and independent ATM deployers in the Philippines. The company said it has a 31-year track record of building digital payments infrastructures and currently operates a network that spans more than 22,000 ATMs and 400,000 POS terminals.
The Business Support Suite is a full stack offering that consolidates operation such as partner management, fees computation, partner settlement, billing and dispute management, for a wide set of transactions, onto a single platform.
“The efficiency from automating billing and settlement processes, including dispute management among the participants and more transactions on our network, advancing our efforts to build inclusive digital payment ecosystems at scale,” BancNet Chief Operations and Technology Officer Arnel Lim said.