Hightech Payment Systems has launched 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 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 cardholders 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.”
