ABSA Group has rolled out its modernized payment infrastructure in 8 African countries using HPS’ PowerCARD software.
The PowerCARD suite which is fully integrated with all international payment networks will help the lender manage its entire payment chain in Botswana, Mauritius, Zambia, Seychelles, Kenya, Uganda, Tanzania and Ghana enabling it to launch electronic payment products efficiently, reduce transaction costs and mitigate operating risks.
On Monday, HPS, a multinational provider of payment solutions announced it had completed modernizing the lender’s operations outside of South Africa (“ARO”).
“By choosing PowerCARD, our partners have selected a payments platform that enables them to position itself to better compete in a modern, fast-moving digitalised banking world with a payments processing platform that will allow the bank to deliver innovative payments solutions fast and keep up with ever-increasing customer demands,” said Sebastien Slim, Regional Director at HPS.
“The new single platform which consolidated our switch and settlement capability reduces our cost to serve, improves stability and customer experience and the compliance capability allows role-based access per country, this privileged view enables countries to manage their own operational controls” said Vanessa Olver, Chief Separation Officer at Absa, ARO.
“And this is a significant investment committed as part of our journey to transform the payments capability of the firm,” said Vimal Kumar, Chief Executive – Retail & Business Bank at Absa ARO.
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The project started in July 2019 with HPS replacing the existing legacy acquiring switch with PowerCARD for eight countries where Absa operates.