HPS, the global provider of payment solutions and services, announced it has obtained a principal membership license from Visa, the world leader in digital payments, which will enable HPS’ clients “to join the global Visa payments network.”
In addition to HPS’ full processing capabilities, HPS can now “offer banks, fintechs, and institutions who are looking to launch a payment solution, access to Visa’s payments ecosystem through its Banking Identification Number (BIN) sponsorship program.”
BIN sponsorship has “been picking up pace globally in recent years with the growing number of fintech companies being launched.” Many are looking for both “a payment service provider and a sponsor that can offer them a fast and convenient alternative to joining a card scheme, such as Visa, directly.”
The extension of HPS’ service offering “to include BIN sponsorship, alongside its comprehensive suite of PowerCARD solutions that covers the entire payment value chain, allows HPS to further enhance its offering as part of its one-stop shop strategy.”
Abdeslam Alaoui Smaili, CEO of HPS commented:
“At HPS, our mission has always been to provide our clients with innovative technology solutions that allows them to bring new products to the market with ease and efficiency. We are thrilled to become a Principal Member of the Visa network, a testament to our 30 years’ experience in the industry, and to be able to fast-track our clients into the Visa ecosystem through our new and complete service offering.”
Sami Romdhane, Morocco Country Manager at Visa said:
“We are pleased to offer HPS a principal membership license, and support them as a go-to partner for fintechs and big brands looking to launch their card programs. From our long-standing working relationship with HPS, as well as our meticulous application process, we are confident that HPS consistently goes beyond industry standards in providing world-class security and functionality to its clients, and powered by Visa’s network as the driver of innovation in payment solutions, goes beyond responding to market needs, to anticipating them”.
As noted in the update, HPS is “a worldwide leading provider of payment solutions and services for issuers, acquirers, card processors, independent sales organizations (ISOs), retailers, mobile network operators (MNOs), and national & regional switches around the world.”
PowerCARD is HPS ‘comprehensive suite of solutions that “covers the entire payment value chain by enabling innovative payments through its open platform that allows the processing of any transaction coming from any channel initiated by any means-of-payment.”
PowerCARD is “used by more than 450 institutions in over 90 countries.”