![]() ![]() With the aim of positioning HPS as a major payment player in Africa, this acquisition will consolidate HPS Processing offer on the continent, where the combined presence of the 2 companies will extend to more than 30 countries. Therefore, the line of activities of ICPS will seamlessly integrate the overall HPS Processing offering. ICPS offering is based on HPS PowerCARD technology. Thanks to its human capital of 106 employees, ICPS supports its clients along all the payment value chain, including the implementation and maintenance of business processes, payment data security standards (PCI DSS), as well as training and consultancy on the best practices in the industry. ICPS activity covers hosting of more than 6 million cards, driving of more than 600 ATMs and 11,000 point of sale terminals, and processes more than 10 million transactions per month. ICPS provides payment processing services for banks and other financial institutions as well as telecom operators. Based in Mauritius, ICPS has a rich portfolio of more than 30 clients in 22 countries in Africa and Asia including MCB. ICPS was founded in 2008 as a subsidiary of MCB Group (80% of the shares) in partnership with HPS (20% of the shares). signed, on February 08, 2021, a definitive acquisition agreement whereby HPS will acquire all outstanding shares from MCB. This acquisition will consolidate the processing activity of HPS by accelerating its development, enriching its team with new talents in the processing business, and by strengthening its infrastructure capacities with new data centers in Mauritius.Ĭasablanca, February 09, 2021.ICPS processes secure electronic transactions for more than 20 countries in English and French speaking Africa, as well as in Asia, using HPS PowerCARD technology.APIs are clearly the future of financial innovation, and we look forward to using HPS’ APIs going forward to continue developing digital products and services for our customers in Africa and beyond.HPS strengthens its processing activities in Africa with the acquisition of ICPS in Mauritius Recently, we have developed a mobile banking app using the PowerCARD APIs that allows our customers to make payments, check statements and balances anywhere in the world 24/7 at the touch of a button. “HPS’ PowerCARD API Platform has been critical in allowing us to accelerate innovation within our organisation, evolve our product offering and keep ahead of the mobile banking revolution within Africa. HPS’ PowerCARD Connect-Open API platform is already facilitating this collaboration in Africa, Europe and beyond.”Īrnaud Bazerque Bacha, Senior Manager - Product & Innovation / Infrastructure & System at ICPS. To this end, we have created an ecosystem designed to foster effective collaboration with those at the cutting edge of the technology. “Against a backdrop of rapid change in the payments sector, FinTech firms need a platform to expand and banks need new technologies that enable them to future-proof payment services to deliver fast, convenient and secure digital solutions in an evolving landscape. Sebastien Slim, Head of Marketing and Innovation at HPS. The hackathon saw HPS’ clients, partners, employees and students working together using PowerCARD APIs, SDKs, and other tools, to create new digital payment services, and was the original testing ground for the PowerCARD Connect-Open API platform The platform was announced at the PowerCARD Users Meeting in April 2017, where the conclusion of the HPS Hackathon was also held, part of the HPS Open Innovation Program. The platform will support the development of two major API families: ‘Servicing’ and ‘Transacting’, meaning any payment system will be able to push payment authorizations and transactions through PowerCARD to be processed, or connected to, the PowerCARD Back Office, thus allowing new services to be provided to the end-user. PowerCARD Connect-Open API is designed to match FinTechs creating emerging payments solutions directly with providers, enabling end users to benefit from the latest technology in the payments industry, such as mobile and contactless payments, tokenisation and biometrics, thus delivering an enhanced digital-first and secure user experience for both consumers and merchants.Ī pilot version of the platform was launched in September 2017, and is now live with ICPS already using the platform to develop a mobile banking app. ![]()
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