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Capitec Bank partners with HPS to consolidate and modernise its payment activities in South Africa

Capitec Bank partners with HPS to consolidate and modernise its payment activities in South Africa | Fintech Finance

HPS, the leading multinational provider of payment solutions, today announced that Capitec Bank, South Africa’s second largest retail bank, will use PowerCARD to consolidate and modernise its Back Office payment activities for both their Card Issuing & Merchant Acquiring businesses.

Capitec Bank will replace their legacy payment systems with PowerCARD, HPS’ payment platform in order to launch new and innovative products to the market more quickly and more efficiently than is possible today.

In consolidating its payments activities on PowerCARD, Capitec joins a number of other leading banks in South Africa who have also adopted PowerCARD as the new “Gold Standard” in electronic payments across the continent.

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

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

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