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HPS signs strategic global alliance agreement with Tech Mahindra

June 10, 2014
CASABLANCA, Morocco – 10th June 2014 – HPS, the market-leading provider of mission-critical solutions to the cards and payments industry, today announces that it has entered into a global services alliance agreement with Tech Mahindra, a leading $3.1bn specialist provider of connected solutions to the connected world.

HPS’ flagship PowerCARD payments technology will now be available to Tech Mahindra’s customers worldwide. The alliance will enable Tech Mahindra’s financial institutions and payment processing customers of all sizes to improve their cards and payments businesses by replacing legacy hardware and software with a single, flexible and cost processing effective platform.

PowerCARD is a comprehensive suite of electronic payment solutions that covers the entire value chain of issuing, acquiring and switching in one single payments platform. This enables payments innovation by allowing new products to be brought to market more easily and changes to be implemented faster and at lower cost. The PowerCARD software does this using a modern and flexible technology architecture that is increasingly being seen as the future for the payments industry.

Abdeslam Alaoui, Managing Director, HPS, said: “Tech Mahindra benefits from a truly global network, and its expansion plans are very much in line with our own strategy. The collaboration between HPS and Tech Mahindra has been excellent and HPS will continue working with Tech Mahindra to deliver modernization programs in electronic payment for any financial institution that is looking to win market share or escape the technology legacy trap and we look forward to working with Tech Mahindra closely.” 

Niraj Vedwa, Global Head –Banking, Payments and Cards, Tech Mahindra, added: “Our mission is to deliver highest quality products, solutions and services to our existing and future customers that add value to their businesses and customers. HPS is undoubtedly the leader in payments software and this strategic partnership is extremely important for our market strategy and value proposition as it allows us to introduce a world-class payments processing platform to our customer base around the world.” 

Tech Mahindra is a multinational provider of IT solutions with business operations in more than 51 countries. The company focuses on application development and management, infrastructure management services, business intelligence, testing, business process management, enterprise content management and Big Data; and for Core Banking, payments, cards, treasury, trade finance, asset management, CRM, channels, customer centricity, MDS, and mobile money.

 

About HPS

HPS is a leading payment software company providing electronic payment solutions for financial institutions, processors and national switches all around the world. Through our suite of solutions, PowerCARD, used by more than 320 issuers, acquirers and national switches, we process any card type (credit, debit, prepaid, loyalty, corporate and fuel) via any channel (ATM, POS, internet and mobile) for any kind of merchant.
HPS operates in over 72 countries in 4 continents and counts among our clients several top 100 financial institutions worldwide.
For more information please visit www.hps-worldwide.com

About Tech Mahindra

Tech Mahindra represents the connected world, offering innovative and customer-centric information technology services and solutions, enabling Enterprises, Associates and the Society to Rise™. It is a USD 3.1 billion company with 89,000+ professionals across 51 countries, helping over 629 global customers including Fortune 500 companies. Its Consulting, Enterprise and Telecom solutions, platforms and reusable assets connect across a number of technologies to derive tangible business value.

The company is part of the USD 16.7 billion Mahindra Group that employs more than 180,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership.
For more information please visit: www.techmahindra.com.