FSS assists PSPs in deftly navigating a rapidly expanding digital payments industry by processing 10% of all UPI financial transactions in the nation. Along with PSPs, FSS collaborates with central regulators to create prompt payment plans across the whole nation.
UPI is an open system for inter-participant PSP transfers from bank account to account. Two layers make up the UPI Infrastructure: the Central Layer and the Scheme Layer. Addressing service systems, upholding standardised messaging flows, switching transactions, clearing, and settlement are all responsibilities of the central layer. Banks that are members of the Scheme Layer are free to publish APIs to implement cutting-edge consumer services.
FSS UPI - Solution Brief |