US-based Hiperos, an Opus Global company that provides third-party management software, has signed a third major credit card network to use its global third-party management platform.
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The move will facilitate the evolution of systemic security and cost efficiency in the global credit card and payments technology industries.
The critical mass created by a third credit card network will improve cost efficiencies extracted from the Hiperos platform with all third parties driving towards a consistent risk standard with uniform checks and balances and standardized reporting.
Hiperos CEO Greg Dickinson said: "The benefits for all three credit card networks resulting from a third joining are huge. They share thousands of third parties in common.
"The positive network effect of this will mean reduced monitoring costs, increased standardization and reduced third-party risk across the board. Everybody wins. It’s a testament to the power and value of the Hiperos network."
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By GlobalData
