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HPS completes the acquisition of IPRC

Tuesday 12 January 2021 12:12 CET | News

HPS Group has announced the completion of the acquisition of IPRC, a Morocco-based company focused on the supervision and remote management of electronic payment systems.

Following the lifting of the last suspensive conditions related to administrative authorizations as dictated by the regulations in force, HPS and IPRC proceeded on 7 January 2021 to the signing of the reiterative deed of sale related to 100% of the shares of the company IPRC.

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.

HPS Group aims to boost their processing offer by combining PowerCARD solution in outsourced mode of new services. Thus, customers of the Group will be able to continue to develop and consolidate their electronic payment offers while relying on 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.

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 suite of solutions that covers the entire payment value chain by enabling 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.

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Keywords: HPS, acquisition, IPRC, ATM, online payments
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce