FSS Technologies FZE, a subsidiary of payments and fintech company FSS, has launched FSS Toggle in Middle East.
FSS Toggle is a mobile application that empowers cardholders to limit the spending pattern and guards against digital frauds.
It also enables the cardholders to manage their virtual, prepaid and credit cards and remotely controls their digital transactions from a smartphone.
Additionally, the app allows users to set controls, enable or disable payment channels like ATM, e-commerce, in-store and receive real-time alerts on all transactions.
Using FSS Toggle, card users can set controls to customize transaction types, merchant categories and block cards where and when not required. They can also lock and unlock the cards with a single on/off button that would help them gain better control.
Leveraging the geo-fencing feature of FSS Toggle, the users can define the geographical range for the card to be active, with the help of GPS and depending on their location. This will provide the cardholders with real-time protection against loss or misuse.
The app also features opt for safe mode that enables users to permit just one transaction and block the card from being used further, thereby protecting the card from high risk of being skimmed.
FSS Technologies president of software products Suresh Rajagopalan said: "FSS Toggle is a secure product that can be seamlessly integrated to the Bank’s existing switching and card management systems.
"It is a powerful tool that will help Banks to offer advanced and secure solution that will enable their customers to confidentially control and manage their cards with a single tap.
"With the support of FSS Toggle, banks can minimize Card Not Present (CNP) frauds and benefit from increased customer base, transactions and revenue."