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Moving from 2020 to 2021

As we look back on 2020, what have we learnt from this unprecedented year? 

The entire world has been shaken: all industries had to reinvent themselves to face new challenges. We can surely say 2020 has been the year to reinvent, to value simple things and to acknowledge the importance of resilience.

But before moving on to an exciting 2021, here is a quick overview on some of 2020 highlights from our blog. 

PowerCARD driving digitalisation & financial inclusion 

With a culture of offering digital and innovative payment solutions, HPS provides a unique interoperable mobile payment platform: PowerCARD Mobile Switch. This platform enables banks, wallet providers and fintechs to make payments, transfer money between their users independently of their wallet platform (service provider). 

HPS also provides a white-label mobile wallet solution, PowerCARD-Wallet, that offers comprehensive QR code payment capabilities among other mobile capabilities. QR code payment is recognised as one of the means to drive financial inclusion through the digitalisation of payments. In 2020, HPS launched several QR code payment solutions, such as in Ghana with GhIPSS or in Saudi Arabia with Saudi Payments. 

But QR codes are not the only technology that can drive financial inclusion – blockchain can too. And that is what HPS proved, along with Bank Al-Magrhib, with the design of an initiative using HPS’ PowerCARD payments platform. The value of the Blockchain technology was highlighted through the enablement of a use case of financial inclusion that allows citizens to access a range of digitalised State Benefits through their mobile (via a payment application).

In 2020, HPS continued to deliver digital payment solutions while enabling financial inclusion worldwide. 

PowerCARD driving innovation

HPS has launched many initiatives, enabling their customers to deliver simple, seamless and secure cashless solutions. Whether it is with a QR code, a mobile payment interoperable solution or by building a large-scale acquiring payment infrastructure in Indonesia – HPS always drives innovative payment solutions that matters to the market.

With PowerCARD, the deployment of new solutions is easier with PowerCARD-Issuer and PowerCARD-Switch, the next generation Card Management System and Authorisation Server. It enables the launch of new products easily, such as numberless cards, that first started to appear in this past year. HPS customers benefit from the flexibility of PowerCARD daily – FNB, a leading financial institution providing services to millions of customers across South Africa, announced in 2020 the launch of their new virtual card for individual and business customers. One example among many to highlight the importance of a flexible platform to enable always-evolving solutions.  

HPS keeps investing in solutions that can improve inclusion for all. As digitalisation is accelerating all around the world, digital inclusion is becoming a must for everyone – especially blind and visually impaired people that need to strenghen their autonomy and security in payments. 

Inclusion is part of HPS’ offering and product roadmap. Whether it is at an ATM or at a POS, HPS designs its solutions to improve the payment experience of the visually impaired and help them benefit from the convenience of mobile means of payment in autonomy and security. 

PowerCARD driving flexibility

The outbreak of Covid-19 also showed the importance of business continuity and resilience of the players. The pandemic accelerated the end of cash but required innovation to propose an alternative to cash (cardless withdrawal, cardless transactions, increasing contactless limits, etc.). 

At the same time, banks were encouraged by governments and central banks to provide more flexibility to their clients (cancel interest fees, extend service for expired cards, increase spending limits, etc.). 

With the right technology, some leading card issuers, processors and national switches were able to do so, by simply parametrising their platform. 

Simple, seamless and secure

At HPS, we provide the invisible technology that enables simple, seamless and secure payments so that people can create, share and live. That is what we did in 2020, and what we’ll continue to do in 2021. To know more about HPS and PowerCARD, please contact sales@hps-worldwide.com.