back Back

Capitec Bank selects HPS to bolster its payment activities in South Africa

By Pavithra R

October 08, 2020

  • Africa
  • Capitec Bank
  • HPS

Hightech Payment Systems (HPS), a multinational provider of payment solutions has announced that South Africa’s second-largest retail bank Capitec Bank, will use PowerCARD to consolidate and modernize its back-office payment activities for both their Card Issuing & Merchant Acquiring businesses.

Through the partnership, Capitec Bank will replace it’s legacy payment systems with PowerCARD, HPS’ payment platform to launch new and innovative products to the market more efficiently with reduced time to market.

“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. 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,” said Wim de Bruyn, CIO at Capitec Bank.

PowerCARD is HPS’ comprehensive suite of solutions that covers the entire payment value chain by enabling innovative payments through its omnichannel solution that allows the processing of any transactions coming from any channels initiated by any means-of-payment. The PowerCARD suite is fully integrated with all international payment networks and supports all major back-office payments functions.

PowerCARD-Issuer provides complete services for issuance and management of all payment types in all formats (credit, debit, prepaid, etc.) while PowerCARD-Acquirer is a comprehensive merchant management back-end platform enabling acquirers to tailor specific solutions for any kind of merchant from small to large, with or without complex hierarchy, on the same PowerCARD-Acquirer platform.

“We are delighted to partner with Capitec Bank to empower them with a future-proof, modern and scalable payment platform. 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,” said Philippe Vigand, Managing Director at HPS.

Established since 1995, HPS is an innovative payment solutions company at the forefront of the international payment industry providing payment solutions for issuers, acquirers, card processors, independent sales organizations (ISOs), retailers, and national & regional switches around the world.

Previous Article

October 08, 2020

FCA bans the sale of derivatives and ETNs to retail customers

Read More
Next Article

October 08, 2020

Tink signs Open Banking partnership with French FinTech Lydia

Read More

IBSi Daily News Analysis


July 19, 2024


SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 19, 2024

Ecommpay & Mastercard partner to deliver Click to Pay in Europe

Read More

July 19, 2024

LTIMindtree extends multi-million-dollar contract with Absa Bank

Read More

July 19, 2024

FinTech Focus: Catch latest developments of the week

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024