Fintech PR
HPS has been Positioned as the Leader in the 2023 SPARK Matrix for Card Management Systems (CMS) by Quadrant Knowledge Solutions
- The Quadrant Knowledge Solutions SPARK Matrix™ provides competitive analysis & ranking of the leading Card Management System (CMS) vendors.
- With its comprehensive technology and customer experience management, HPS has received strong ratings across the parameters of technology excellence and customer impact.
MIDDLETON, Mass., Dec. 12, 2023 /PRNewswire/ — Quadrant Knowledge Solutions announced today that it named HPS the 2023 technology leader in the SPARK Matrix™: Card Management System (CMS) 2023.
Quadrant Knowledge Solutions’ SPARK Matrix™ includes a detailed analysis of the global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides a competitive analysis and ranking of the leading technology vendors in the form of its SPARK Matrix. It gives strategic information for users to evaluate different provider capabilities, competitive differentiation, and market positions.
According to Sriram S R, Analyst, Quadrant Knowledge Solutions, “PowerCARD comprises a comprehensive suite of solutions that spans the entire payment value chain across multiple payment channels. This digitalized payment solution encompasses virtual cards, PAN-less cards, mobile payments, NFC payments, wearables, tokenization, instant payments, and QR Codes. Facilitating multi-channel functionality, the PowerCARD suite leverages its PowerCARD-Connect API to offer a seamless and integrated payment experience, and the key features of the platform includes card issuing, merchant acquiring, fraud prevention, credit analytics, payment analytics, wallet, Business intelligence, tokenization, ATM and POS management etc., covering a wide range of customers like credit unions, banks, and financial institutions etc. PowerCARD platform supports both cloud deployment and on-premises deployment for its customers. The company provides significant technology to enable its clients like banks and financial institutions to achieve customer satisfaction and thereby improve customer loyalty. HPS has strategically invested in research and development to enhance the capabilities of its card and payments solutions. The company has garnered commendable ratings for its technological prowess and customer impact, earning recognition as a technology leader in the 2023 SPARK Matrix within the CMS market. This accolade underscores HPS’s commitment to advancing technology and delivering exceptional solutions, solidifying its position as a prominent player in the industry.”
Abdeslam Alaoui Smaili, CEO of HPS said: “We are proud to stand as the developers behind our cutting-edge PowerCARD solutions, which are revolutionizing the payment landscape by delivering simple, seamless, and secure transactions. At HPS, we are dedicated to empowering our customers with innovative technology that adds tangible value. We remain committed to providing our partners and stakeholders with a reliable and robust solution, and we are honored to be acknowledged as a leader in our industry by our peers.”
Quadrant Knowledge Solutions defines Card Management Systems (CMS) as the platform that provides functionalities to support comprehensive lifecycle management for credit, debit, prepaid, smart-chip and all multi-application smartcards. The CMS platform enables organizations to handle all aspects of card management including billing, supporting multi-payment types including mobile and contactless, account management, clearing, settlement, credit scoring, dispute management, microfinance, and merchant servicing. The centralized platform supports a wide-range of card-associated activities and services including designing card products for attracting new customers and increasing card usage for existing ones.”
From signatures to magnetic stripes to chipsets to NFC (wireless), card management systems (CMS) have made considerable advancements. A crucial part of the payment infrastructure, these platforms have developed to support a variety of payment card kinds as well as newly developing card types. Due to obstacles like misused or blocked cards, it still lags behind other payment methods including mobile payments, m-commerce, and e-banking. The CMS platforms play a crucial role in banking and have been a key factor in CMS’s market expansion. They are driven by constant innovation and funding from top investors. These platforms offer a broad range of cutting-edge functionalities for a variety of use cases, such as multiproduct, multicurrency, and multipayment types (including contactless, QR payments, NFCs, in-app payments, and tokenization). Due to the current financial uncertainty in the world, many top CMS suppliers are updating their CMS features and capabilities to handle growing financial issues. Offering features including instalment payments, payment holidays, credit card expiry avoidance, and virtual cards, they assist banks and other financial institutions in meeting client needs and adhering to regulations. Banks can offer their customers a payment plan for one-time purchases through the installment pay option. They also give banks the ability to create payback plans in response to consumer requests, reducing crimes connected to transient payment management problems. The payment vacation option enables banks to retain interest and principal for longer periods temporarily, which benefits consumers, notably during the lockdown periods.
Additional Resources:
- For more information about HPS, visit here.
- Complimentary Download – SPARK Matrix: Card Management System (CMS), 2023
About HPS
HPS is a multinational company and a leading provider of payment solutions and services for issuers, acquirers, card processors, independent sales organisations (ISOs), retailers, mobile network operators (MNOs), and national & regional switches around the world.
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. PowerCARD is used by more than 500 institutions in over 90 countries.
HPS has been listed on the Casablanca Stock Exchange since 2006 and has offices located in major business centres (Africa, Europe, Asia, Middle East).
For more information: www.hps-worldwide.com
Media Contact
About Quadrant Knowledge Solutions
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients achieve business transformation goals with Strategic Business and Growth advisory services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client’s business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments.
For more available research, please visit https://quadrant-solutions.com/market-research/
Media Contacts:
Mr. Ajinkya Ingle
Quadrant Knowledge Solutions
Regus Business Center
35 Village Road, Suite 100,
Middleton Massachusetts 01949
United States
Email: ajinkya@quadrant-solutions.com
Phone: (+1) 978-605-1066
Logo: https://mma.prnewswire.com/media/746706/Quadrant_Knowledge_Solutions_Logo.jpg
