Technology: A Moroccan payment systems progress
The payment software firm, founded by chief executive Mohamed Horani in 1995, is now a multinational operation with offices in the US, France and the United Arab Emirates.
[It] has a great success in countries with a low penetration of banking services
“We process any card type – credit, debit, prepaid, loyalty, corporate and fuel – via any channel – automated teller machine, point of sale, internet and mobile – for any kind of merchant.
“So far, we operate in over 75 countries worldwide providing electronic payments solutions for more than 300 issuers, acquirers – among them many financial institutions – and national switches,” says Horani.
HPS developed its own software, PowerCARD, allowing it to offer additional services, including contract management and payment reconciliation.
HPS signed a partnership with Hewlett-Packard in 2012, and both now offer a common product for the Europe, Middle East and Africa region.
In June this year, HPS signed a deal with India’s Tech Mahindra to provide networking technology solutions and business support to the telecommunications industry.
In October, Raízen, an energy joint venture between Shell and Brazil’s Cosan, said it will use PowerCARD to manage prepaid cards.
HPS is investing 10% of its turnover in research and development, with a special emphasis on the mobile sector with PowerCARD-Mobile.
“PowerCARD- Mobile is compatible with any kind of phone to allow consumers to handle their virtual bank account, as well as to offer retailers the possibility to receive payments via mobile or via credit card through smartphones, which has a great success in countries with a low penetration of banking services,” explains Hourani.
Africa has become the top export market for HPS products, and the company has a 2013 turnover of Dh270m ($30.5m), with profits up 30% from 2012. ●