HPS Completes the Acquisition of IPRC
Date: January 12th, 2021
Completion of IPRC acquisition
HPS Group today announces the completion of the acquisition of IPRC, announced on July 9th. Following the lifting of the last suspensive conditions related to administrative authorizations as dictated by the regulations in force, HPS and IPRC proceeded on January 7th , 2021 to the signing of the reiterative deed of sale related to 100% of the shares of the company IPRC.
As a reminder, IPRC supervises more than 5,500 ATMs on behalf of thirty banks in Morocco and Africa, manages the electronic payment fraud of more than 7 million cards banking and supervises almost half of the Moroccan electronic payment flow.
Objectives of the operation
The arrival of IPRC in HPS Group will strengthen our processing offer by combining PowerCARD solution in outsourced mode of new services with high added value. Thus, customers of the Group will be able to continue to develop and consolidate their electronic payment offers while relying on a strong expertise in hosting and operating their electronic payment platform, for the supervision of the activity of their ATMs and for the fraud supervision of their bank cards.
Finally, the strong geographic scope of HPS Group, as well as its recognition over many markets, will quickly develop IPRC offers internationally to accelerate its growth and its development.
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