'Productathon' promises cash prizes for cashless payment concepts

Jan. 3, 2017

Chennai, India-based FSS, a provider of payment and fintech solutions, has announced the FSS Payments Productathon, a payments-focused contest open to both tech and non-tech entrants.

The 12-week online contest invites developers, entrepreneurs, banking and finance industry professionals, and students to submit ideas for simplified cashless payments, according to a press release.

FSS will host the competition in association with the National Association of Software and Services Companies and TiE Chennai, a local entrepreneurship incubator, the release said.

Participating teams will demonstrate their coding and design skills as they address existing payment challenges. Areas of focus will include the Internet of Things; smart cities; mobility; cloud payments; bots and artificial intelligence; blockchain and a cash- and card-less world.

In each area, participants will be tasked with developing payments innovations that will enhance the customer experience and encourage them to go cashless.

Teams will be mentored by a panel of payments technology experts. At the conclusion of the contest, the top 10 finalists will present ideas before a jury of experts.

Winning teams will win cash prizes of up to 500,000 rupees ($7,312) and the opportunity to further develop their ideas and solutions in collaboration with FSS.

"We have launched this unique contest with payments as the focus and have thrown it open for both tech and nontech teams, so that we get innovative and disruptive ideas from fresh young thinkers and domain experts," FSS President of Software Products Suresh Rajagopalan said in the release. "We encourage anyone and everyone who has a smart idea or solution to participate for creating next-generation payments."

Information about Productathon registration, rules, eligibility, judging criteria and prizes is available online.

Topics: Software, Transaction Processing

Companies: FSS

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