Overview
For issuers, building customer trust in emerging digital payment propositions is critical to drive mass-adoption, transaction growth and revenues.
FSS Toggle secures customer trust in emerging payment channels by allowing customer to proactively manage how, when and where virtual, debit and prepaid cards will be used.
With Toggle cardholders have the ability to block transactions and set limits and alerts on card spends using a mobile app or via the issuer’s mobile banking application or online website.
Customers receive instant notifications on transactions that breach pre-defined rules, helping consumers promptly detect and respond to fraudulent activity. This fosters confidence and increases customer satisfaction in the issuers card program.
Customizable Spend Control and Alerts
FSS Toggle offers a powerful and broad suite of controls to empower cardholders to better manage card transactions and prevent fraud. Cardholders have complete flexibility to use the available set of controls in any combination to block or unblock transactions as well as receive notifications. The available set of controls include:
Purchase size: limit total or single-purchase amounts and cash back transactions
Geo-location for example, define permissible geographic perimeter for card activity and tag transactions
Cross-border for example, barring international locations
Channels for example, ATM/POS withdrawals /e-Commerce and in-store payments
MCC level controls for example, groceries and car rentals
Merchant type
Time of the week and day
Recurring payments
Restrict all transactions
Cardholders can adjust settings in real-time and receive instant alerts on card activity. Confirming the amount and location of each purchase, FSS Toggle automatically categorises each transaction and generates a monthly expense statement, ensuring customers know exactly what they are spending money on.
Supports All Cards
FSS Toggle is secure, flexible and can be used with prepaid, debit and credit products regardless of the payment scheme.
International card brands (for example, Visa, MasterCard)
Domestic card schemes (for example, Rupay)
Prepaid cards
Virtual cards
Accelerates Deployment via Standardized Integration Interfaces
FSS Toggle app supports standard interfaces - ISO 8583, XML and Web API calls-to facilitate faster integration with the financial institutions’ existing infrastructure such as bank switch along with external interfaces.
Supports All Devices
FSS Toggle supports all major device platforms Android, iOS and Windows, enabling banks to address a broad base of cardholders. In addition, extensive API libraries enables issuers to seamlessly integrate card control capabilities with mobile and online banking.
Totally Secure
PA-DSS 3.2 compliance provides an added layer of security and ensures all sensitive data is encrypted.
Use Cases
Parental control
With Toggle, primary cardholder creates customized spend profiles for each family member and can proactively monitor where, when and how dependents spend.
Enhanced security
Cardholders can block international purchases from being made in-store or via online shopping. Customers can unlock this function when they travel overseas, and keep this function locked the rest of the time.
Set safe mode
Prevent fraud using cards in a safe mode by enabling a single transaction on the card. For example, sending staff on a specific errand.
Why Use Toggle
FSS Toggle provides issuers opportunities to provide added value to cardholders, profitably differentiate card programs and grow revenues.
Strengthens Anti-Fraud Mechanisms and Lowers Fraud Loss
By allowing consumers to define spend limits and monitor transactions on the go, FSS Toggle effectively crowd-sources fraud prevention and lowers losses resulting from transaction scams.
Boosts Revenue from Higher Card Usage
Added level of access, management and control heightens sense of confidence and translates into higher card usage and revenue.
Expands Cardholder Base
Ability to prescribe spend limits for dependent cards enables banks to tap into the younger demographic, creating a ready base of future consumers for banking products.
Embeds Brand in the Financial Life of a Customer
FSS Toggle embeds brand into the daily financial lives of customers, driving card preference and creating opportunities for product cross-sell and upsell.