News

Indian bank inks top-up service deal with FSS

April 11, 2005

CHENNAI, India - Karur Vysya Bank signed up Chennai-based Financial Software & Systems Pvt. Ltd. for cellular phone top-up service across the bank's ATM network, according to a news release. KVB cardholders can now top-up their prepaid mobile phones with recharge coupons at the bank's ATMs.

FSS offers value-added payment services, like cell phone top-up, under its FSSNet brand. FSSNet is more than 3 years old and has more than 10,000 ATMs connected to its network.

"This is another add-on service to our customers," said P.T. Kuppuswamy, bank chairman. "We have partnered with FSS for providing the necessary infrastructure support to launch this product."

"The mobile top-up is one more innovative offering from FSSNet, and we are happy to partner with KVB to launch this service in Tamilnadu," said J. Rudhraapathy, FSS director. "Top-up truly reflects the convenience that a customer wants today. Customers can walk (up) to the ATM anytime and carry the prepaid products printed on the ATM receipt. The experience is similar to purchasing a prepaid card from the local shop. In addition, customers can also top-up their mobile connections through an SMS."

Karur Vysya Bank also has plans to expand its retail delivery channel this year. The bank has networked all its non-rural branches in 113 locations to provide a centralized banking solution.