US-based technology company HP has deployed HPS’ PowerCARD software at its global processing centres to offer a secure, cost-effective outsourcing service fit for the next generation of payment.

According to HPS, PowerCARD is a comprehensive suite of electronic payment solutions that covers the entire value chain of Issuing, Acquiring & Switching in one single processing platform.

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Through the partnership, all financial institutions and payment organisations will be able to improve their cards and payments business by replacing legacy hardware and software with a single, flexible and cost processing effective platform.

HPS managing director, Abdeslam Alaoui, said: "This strategic alliance with HP provides a shared services model delivering secure, best-in-class payment solutions. HPS will continue working with HP to deliver modernization programs in electronic payment for any organisation that is looking to win market share or escape the technology legacy trap."

The initial implementation is underway in both Europe and Asia, with the first live transaction expected in 2014.

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