Payment solutions provider HPS has completed the modernisation of Absa’s African Operations outside of South Africa (ARO) acquiring payments infrastructure journey
This transformation journey started in July 2019 with HPS replacing the existing legacy acquiring switch with PowerCARD for eight countries where Absa operates across the African continent - Botswana, Kenya, Mauritius, Zambia, Tanzania, Ghana, Uganda, and Seychelles.
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.
Absa Regional Operations subsequently replaced their legacy merchant acquiring settlement platform with PowerCARD, which was completed in March 2020.
Vimal Kumar, CEO - retail and business bank at Absa ARO, said, “The payments landscape in Africa poses a huge potential. Through electronic payments, we aim to bring financial services to many more unbanked and underbanked people, reduce transaction costs, and increase customer convenience. And this is a significant investment committed as part of our journey to transform the payment capability of the firm.”
Sebastien Slim – regional director at HPS, said, “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.” Slim continued.
Vanessa Olver, chief separation officer at Absa, ARO, said, “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.”
Absa Group Limited is listed on the Johannesburg Stock Exchange and is one of Africa’s largest diversified financial services groups.
