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HPS relocates South Africa office to Cape Town

By Edlyn Cardoza

July 27, 2022

  • Banking
  • Cape Town
  • Financial Institutions
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HPS, Financial Institutions, Banking, FinTech, PowerCARD, Cape Town, Johannesburg, South AfricaHPS, a global provider of payment solutions, recently announced its plans to move its South Africa office to Cape Town as it looks to expand its team and support new business growth. This is a natural step for HPS as the company has seen sustained growth in the county, alongside its clients and the broader market.

HPS opened its Johannesburg office in 2018 to establish a presence in South Africa’s rapidly evolving payments sector. The country is home to some of Africa’s leading banks and financial institutions and has become a leading FinTech destination globally in recent years. Cape Town currently accounts for 75% of the country’s venture capital deals, largely in the FinTech, SaaS and e-commerce sectors and of the core FinTech subsectors, payments are currently the most heavily funded.

Abdeslam Alaoui Smaili, CEO of HPS, commented, “In recent years, South Africa has become fertile ground for innovation in the fintech, payments, and banking sectors. Since opening our Johannesburg office four years ago, we’ve seen tremendous growth in the market and moving our office to Cape Town will enable us to better support our existing customers in South Africa, while also take full advantage of all the opportunities the country has to offer.”

HPS is a multinational company and a 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.

Recently, IBS Intelligence reported on HPS Group’s decision to structure and set up a team dedicated to identifying and developing new business opportunities around payments to support its development plan.

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