HPS pushes on with open banking platform for payments
Morocco-based payment software firm HPS has made progress with its open banking platform to let firms build applications on banks’ and other financial institutions’ existing payment systems.
Called PowerCARD Connect-Open API platform, a pilot version was launched in September 2017, and is now live with ICPS using the platform to develop a mobile banking app. ICPS is a joint venture between the Mauritius Commercial Bank Group (MCB Group) and HPS.
According to HPS, the platform will support the development of “two major API families” – servicing and transacting, meaning “any payment system” will be able to push authorisations and transactions through PowerCARD to be processed, or connected to, the PowerCARD back office.
Arnaud Bazerque Bacha, senior manager – product and innovation / infrastructure and system at ICPS, says: “Recently, we have developed a mobile banking app using the PowerCARD APIs that allows our customers to make payments, check statements and balances anywhere in the world 24/7 at the touch of a button.”
The platform was initially announced at the PowerCARD Users Meeting in April 2017, where the conclusion of the HPS Hackathon was also held, part of the HPS Open Innovation Programme.
HPS says the hackathon saw its clients, partners, employees and students working together using PowerCARD APIs, SDKs, and other tools, to create new digital payment services, and was the “original testing ground” for the PowerCARD Connect-Open API platform.
FinTech Futures was at that PowerCARD Users Meeting in Marrakesh. The message from HPS was clear – it will work with others and isolation is not an option.