Stellenbosch & Casablanca, 07^th October, 2020 - HPS, the leading multinational provider of payment solutions, today announced that Capitec Bank, South Africa’s second largest retail bank, will use PowerCARD to consolidate and modernise its Back Office payment activities for both their Card Issuing & Merchant Acquiring businesses. 

Capitec Bank will replace their legacy payment systems with PowerCARD, HPS’ payment platform in order to launch new and innovative products to the market more quickly and more efficiently than is possible today. 

In consolidating its payments activities on PowerCARD, Capitec joins a number of other leading banks in South Africa who have also adopted PowerCARD as  the new “Gold Standard” in electronic payments across the continent.  

“With PowerCARD, we plan to launch new and innovative, as well as of-the-shelf standard products, ready to go to market. We can now imagine the products and services we want to better serve our customers and simplify banking.” said Wim de Bruyn, CIO at Capitec Bank “We can also rely on PowerCARD capabilities to consolidate and optimize all our Payment Businesses in one single platform both now and in the future with initiatives such as Tokenization, eCommerce, 3D-Secure, and even a Mobile Wallet for the under-banked in South Africa.”

“We are delighted to partner with Capitec Bank to empower them with a future-proof, modern and scalable payment platform.”Comments Philippe Vigand, Managing Director at HPS. “With PowerCARD, they’ll have the perfect companion to take their Issuing and Acquiring businesses to the next level for their Capitec and Mercantile Bank activities. In addition to their Back-Office activities, they will have the opportunity to further consolidate all Front-End activities of the bank. They will also be able to optimize processes for both IT and Business, as well as consolidating all their data into one single system.”

Find out more about PowerCARD-Issuer here and PowerCARD-Acquirer here. 

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About Capitec Bank

Capitec Bank Holdings Limited (Capitec or the group) is listed on the JSE. It owns the operating subsidiary Capitec Bank Limited (Capitec Bank) that acquired Mercantile Bank Holdings Limited (Mercantile) on 7 November 2019. 

Capitec Bank is the largest digital bank and the largest bank by active banking clients in South Africa. We focus on essential banking services and provide value for money, innovative transaction, saving, insurance and unsecured lending products to individuals. Through Mercantile we provide transaction, savings and unsecured lending products to small businesses. Mercantile is a niche business and commercial bank servicing the needs of existing businesses. Its key differentiator is strong client relationships based on good service and an in-depth understanding of the needs of the South African entrepreneur.

For more information: www.capitecbank.co.za

About HPS

HPS is a multinational company and a leading provider of payment solutions and services for issuers, acquirers, card processors, independent sales organisations (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 400 institutions in over 90 countries. HPS is listed on the Casablanca Stock Exchange since 2006 and has offices located in major business centres (Africa, Europe, Asia, Middle East).

For more information: www.hps-worldwide.com