HPS, the market-leading provider of mission-critical solutions to the cards and payments industry, has announced an increase in recurring revenue of 18% for 2013. Several key achievements over 2013 have contributed to this success.
Over the course of 2013, HPS has noted a rise in the electronic banking activities and the number of payment transactions made via its PowerCARD solution. This trend also follows a global increase in the total number of electronic payment transactions, however a number of factors demonstrate that HPS offers the preferred solution. This has all contributed to this double-digit growth.
In particular, their recent partnership with HP, a world leader in the IT industry, has demonstrated the benefits of HPS’ solution. This partnership made PowerCARD electronic banking services available to HP customers across the globe, allowing them to improve their cards and payments businesses by replacing legacy hardware and software with a single, flexible and cost efficient platform. The initial implementation is underway in both Europe and Asia, with the first live transaction expected by end 2014.
2013 was also a successful year for the global expansion for HPS, awarded with a multimillion USD contract with a leading Latin American payments processor. For this customer, HPS will be assisting in the handling of transactions over 19 Latin American countries.
PowerCARD is a comprehensive suite of electronic payment solutions that covers the entire value chain of issuing, acquiring and switching in one single payments platform. This enables payments innovation by allowing new products to be brought to market more easily and changes to be implemented faster and at lower cost. The PowerCARD software does this using a modern and flexible technology architecture that is increasingly being seen as the future for the payments industry.
In the interest of facilitating the exchange of industry knowledge and the discussion of payments trends and challenges, HPS organised its 5th PowerCARD User Meeting in 2013 in Marrakech. The event brought in over 300 delegates attending from over 40 countries.
Mohamed Horani, Chairman & CEO, HPS, said: “2013 was a great year for HPS. We saw an increase in the number of payment transactions, and improved our margins allowing for optimized efficiency across the board. Our sustained investment in research and development allows us to offer a continuously improving product to our customers, and to maintain strong customer satisfaction.”