The acquisition is in line with the external growth strategy of HPS group, which began with the purchase of the company acpqualife in France in 2010, the taking over of the switching activity in Morocco in 2016, and continued through to the acquisition of the company IPRC in January 2021. The union will also have a definite impact on operational costs, resulting in significant economies of scale. Through the acquisition, HPS aims to position itself as a major payment player in Africa and consolidate HPS’s processing offer on the continent, where the combined presence of the 2 companies will extend to more than 30 countries. Therefore, the line of activities of ICPS is expected to integrate the overall HPS Processing offering seamlessly. ICPS offering is based on HPS PowerCARD technology. The firm supports its clients along all the payment value chain, including the implementation and maintenance of business processes, payment data security standards (PCI DSS), and training and consultancy on the best practices in the industry. If you are a merchant of any size accepting credit cards, you must be in compliance with PCI Security Council standards. Its activities cover hosting of more than 6 mn cards, driving of more than 600 ATMs and 11,000 point of sale (POS) terminals, and processes more than 10 mn transactions per month. The company offers payment processing services for banks and other FIs as well as telecom operators. HPS PowerCARD technology, which enables companies to process information from prepaid, debit, credit, purchase, payroll, loyalty, ATM and other types of. ![]() It provides a state of art technology in Switching and Card Management Systems, enabling banks to achieve economies of scale in outsourcing their processing activities. Unlike other service providers and third-party processors, ICPS is a member bank processing centre. It is a joint venture of the MCB Group and Hightech Payment Systems and has a rich portfolio of more than 30 clients in 22 countries in Africa and Asia including MCB. The acquisition is subject to suspensive clauses and the approval of the concerned authorities.įounded in 2008, Mauritius based ICPS was established a subsidiary of the MCB Group. HPS have done yet another wonderful job in bringing so many industry experts together for this event.Hightech Payment Systems Group (HPS), a multinational provider of payment solutions, has announced entering into a definitive agreement to acquire all outstanding shares of ICPS from the Mauritius Commercial Bank (MCB) Group. Site is running on IP address 104.26.15.66, host name 104.26.15.66 ( United States) ping response time 5ms Excellent ping. I am greatly looking forward to attending the event on behalf of Fexco. This conference provides an excellent platform for networking and will open up the possibility for collaborations as well as affording us the opportunity to strengthen our existing partnerships. ![]() ![]() Hosted at the Mövenpick Hotel Mansour Eddahbi this major event will bring together more than 400 card experts and key industry speakers from over 70 countries providing insights on the latest industry product enhancements and the major electronic payment industry trends.įexco will be represented at the conference by Shane McElroy, Global ATM Senior Development Manager, Gavin O’Sullivan, Regional Manager Sub-Saharan Africa, and Ruth Levins, Head of Central Europe.”Ĭommenting ahead of the event, Shane McElroy said: “Delegates at this event can gain a deeper understanding of the latest trends in payments as well as learning about industry disruptions and their potential impact. Financial technology company Fexco will attend the eighth edition of the HPS PowerCARD Users Meeting, in Marrakesh on March 13 – 16, 2019.
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