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HIGHTECH PAYMENT SYSTEMS LAUNCHES OPERATIONS IN THE MIDDLE EAST

Increasing trend towards non-cash payments means over 10,000,000
debit & credit card users in the region

19 January 2003, Dubai, United Arab Emirates- Hightech Payment Systems (HPS) today announced the launch of its operations in the Middle East, with the opening of its new office in Dubai Internet City, UAE. The software company, which provides a range of comprehensive payment solutions for businesses, is looking to get closer to its existing Middle East customers and to capitalize on changing patterns in the use of credit
Mohammed Horani, chief executive officer, HPS at the company’s new DIC office. cards, ATMs, POS and payment by mobile phone in the region.

Current trends in the market suggest that HPS is arriving in the Middle East at the right time. People in the Gulf top the ratings for individual spending on credit cards, and the number of card holders is growing exponentially year-on-year. In 2002, the combined number of MasterCard and Visa cards in use in the region was approximately 10,700,000.

Several banks across the region have also introduced smart card technology, providing intelligent services to customers and further boosting demand for payment services. In addition, a report by RBR Research says that the number of automated teller machines (ATM) will rise by 60% by 2004.

This momentum increases the need for companies to invest in robust, secure payment management solutions. HPS’ PowerCARD technology, which enables companies to process information from prepaid, debit, credit, purchase, payroll, loyalty, ATM and other types of cards, has already been adopted by a number of financial institutions in the region.

“PowerCARD has become the solution of choice for a number of world-class organizations, and HPS sees huge potential for growth in the Middle East,” said Mohammed Horani, chief executive officer, HPS. “Our new office in Dubai will enable us to provide constant round-the-clock support for our existing customers and help us reach out to new wave of clients. Companies in the region are making great strides in adopting innovative solutions, and HPS provides technology that ensures they can compete at the highest levels.”

Benefits of PowerCARD

Developed by HPS experts with over 20 years’ experience in the payment software industry, PowerCARD is a comprehensive suite of Web-based software packages, which integrates front-end functions, such as ATM switching, POS driving and managing data from certified interfaces like MasterCard, Visa, Diners and American Express, and back-office functions, including credit card management, merchant acquiring and national and international clearing.

PowerCARD’s strength lies in its flexibility and openness as a technological solution. Running on Oracle under Unix, PowerCARD can operate on a wide variety of systems and has a three-tier architecture that enables it to work from any Internet connection.

The HPS team has also developed comprehensive protection systems to ensure the integrity of all financial data managed by PowerCARD. The system provides impregnable defense and full protection, further reinforced by technical support direct from Dubai Internet City. Customers also have the option to join the “PowerCARD User’s Club”, a community of experts designed to encourage knowledge-sharing and best practice use of HPS technology.

“As economic growth continues and customers look to use a wider range of payment options, companies are looking for innovative solutions that can manage huge volumes of financial data. We’re seeing substantial demand for our solution across the region from leading financial institutions and major retail, energy and telecoms providers.” said Horani. “HPS feels very optimistic about the performance of our Dubai office in the coming year.”

- ENDS -

About HPS
Founded by its own consultants in January 1995, Hightech Payment Systems had, from the outset, the objective of providing complete solutions for electronic payment. With offices in Casablanca, Morocco and Dubai Internet City, UAE, the company has over 100 employees dedicated to offering every financial institution a solution perfectly adapted to its needs. Hightech Payment Systems has developed and designed a suite of PowerCARD products, which constitutes an overall and integrated solution for multi-channel electronic payment. PowerCARD is a modular and evolving system that is open to all payment channels (including ATM, POS, Internet and mobile phone payment). Hightech Payment Systems also provides several PowerCARD related services such as, direct licensing, outsourcing, permanent assistance, Hot-line (24 hours a day, 7 days a week), training, consulting and audit. PowerCARD system is certified by international payment institutions like MasterCard and Visa. Since 1995, more than 40 card centers in nearly 30 countries have chosen PowerCARD to manage their electronic payment transactions. HPS’ customers include banks, national switches, international card associations, loan companies, telecom operators and oil retailers.

 

Compiled by Saudia-Online.com

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