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Bridging The Gap
HPS Worldwide: Innovating global payments systems.
  Thursday 05 April, 2018
HPS Worldwide: Innovating global payments systems.

In this article, we look at why a functioning global payments system matters, and talk to Mr Mohamed Horani, CEO of HPS, about how his company is meeting the challenge.

Globalisation has been a term that has been with us for a long time. But what does it mean in the practical world of business and financial transactions?

HPS might have some answers. Founded in 1995, HPS is an innovation-driven payment solution and services company dedicated to solving the financial transaction problems posed by the increasing mobility of goods, services and people.

We invited Mr Mohamed Horani, CEO of HPS, to talk to us about how their company is gearing up to meet the challenges ahead.

What does HPS do and why do global payments systems matter in today’s global economy?

Since 1995, HPS has provided financial institutions, payments providers and merchants across the world with cutting-edge payments technology that transcend the entire payments value chain.

The system allows them to innovate rapidly and bring new products to market with ease and efficiency using HPS’s PowerCARD software – increasingly seen as the future of the payments industry. The PowerCARD suite is fully integrated with all international payment networks and supports all primary back-office payments functions.

In today’s interconnected and digital world, global payments systems matter because they are the arteries of the global economy, enabling businesses to trade with others across the globe, and consumers to purchase goods and services online and offline with ease and efficiency.

At the same time, in an increasingly turbulent and unpredictable world, payment systems help to support financial stability and expand financial inclusion in the developing world, which is crucial to eradicating extreme poverty and boosting the share of economic prosperity.

How are current trends in the global economy impacting your business? What are the main challenges over the next few years, in your opinion?

The digitisation of the global economy is the most significant phenomenon impacting our business today, leading to trends such as:

The emergence of the sharing economy – The digital revolution has led to the creation and proliferation of sharing platforms, such as Airbnb, TaskRabbit, LendingClub and ridesharing apps, creating some challenges for merchants. Customers need to trust that payments for these services are efficient.
The cashless society – Over the last few years, the number of cards in circulation and users of mobile payments has skyrocketed, with even stronger growth predicted over the coming years. 80% of payments in countries like Sweden and Denmark are already cashless.

Payments: A market in full reconfiguration – Thanks to digitisation, consumers are more connected, better informed and more demanding. As a result, they now want faster, easier to use and less expensive financial services.

For years, banks, restricted by legacy payment systems, have been slow to respond to this demand, leading to an influx of new FinTech companies who have the necessary agility and competitiveness to deploy innovative and digital business models to help meet this need. Some banks have responded by buying into FinTech or setting up incubation programmes or implemented open APIs for other market actors.

Electronic payment and “Blockchain” technology – Blockchain, the technology of the moment, represents the promise of adding trust in non-secure environments and permitting a transparent access to information contained in the chain.

According to Gartner, by 2020 blockchain-based cryptocurrencies will account for $1 billion of value in the banking industry – small, but effectively legitimising this currency.


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