HP, the world's largest technology company, is collaborating with HPS in the launch of an outsourced payments solutions based on the PowerCARD software.
The global cooperation between HP and HPS enables financial institutions and payment organizations of all sizes to improve their cards and payments business by replacing legacy hardware and software with a single, flexible and cost processing effective platform. The initial implementation is underway in both Europe and Asia, with the first live transaction expected in 2014.
HPS, a leading payment software company providing electronic payment solutions for financial institutions and processors all around the world, has made its global solution PowerCARD available to HP as part of HP's wider value proposition to the payments market. HP is implementing the PowerCARD suite in a number of its global processing centers to offer a secure, cost-effective outsourcing service fit for the next generation of payment.
"This strategic alliance with HP provides a shared services model delivering secure, best-in-class payment solutions," says Abdeslam Alaoui, Managing Director, HPS. "The collaboration between HPS and HP has been excellent. HPS will continue working with HP to deliver modernization programs in electronic payment for any organisation that is looking to win market share or escape the technology legacy trap."
PowerCARD is a comprehensive suite of electronic payment solutions that covers the entire value chain of Issuing, Acquiring & Switching in one single processing 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.
"The payment market is undergoing massive change with the digital economy and HP is in the center of it," says Ed Adshead-Grant, General Manager of the HP Cards and Payments Practice in EMEA. "To complement HP's assets in mobility, security, data analytics and cloud, I have been sourcing a number of proactive partners with a real passion for modernization - HPS has this quality in their people and their PowerCARD technology. We are really excited by the initial projects and the tremendous market response to our partnership."