HPS teams up with Utimaco; integrates hardware security module Atalla AT1000

By Megha Bhattacharya

Payment solutions provider HPS today announced a new partnership with IT security solutions provider Utimaco. HPS has integrated Utimaco’s hardware security module Atalla AT1000 into PowerCARD, HPS’ suite of solutions that covers the entire payment value chain.

Nabil Ibenbrahim, Deputy Managing Director at HPS commented, “Security in the payments industry must be a priority, especially with the sharp rise in digital transactions accelerated by the Covid-19 pandemic. Failure to adopt the latest standards will sooner or later hurt consumers and businesses alike. In Utimaco, we have found a worldwide supplier of cybersecurity solutions to ensure our customers business is safe with us.”

According to Utimaco, its Atalla Hardware Security Modules (HSM) have been developed for the banking sector and were one of the first Payment HSM worldwide to be PCI PTS HSM v3.0-certified.

Atalla HSM are used by payment providers such as issuers, Payment Service Providers (PSP), acquirers, card schemes, cloud service providers and payment networks worldwide to protect their payment ecosystems and achieve compliance.

Haris Sethi, Global Strategy Manager at Utimaco on this partnership, “Banking and financial services are among the most heavily regulated sectors in the market. With the change in customer behaviour in relation to payments conducted online or in-store over the past year, and with the rise of digital payments since the start of the corona pandemic, it is now more important than ever to safeguard sensitive customer data. The collaboration with HPS ensures a fully integrated and compliant end-to-end solution using state-of-the-art products. We are excited that our strategic partner HPS shares our vision about the importance of innovative security solutions.”

HPS announced entering into a definitive agreement to acquire all outstanding shares of ICPS from the Mauritius Commercial Bank (MCB) Group. The acquisition is subject to suspensive clauses and the approval of the concerned authorities.