Quadrant Knowledge Solutions announced today that it has named HPS as a 2023 technology leader in the SPARK Matrix: Merchant Payment Platform, 2023.
The Quadrant Knowledge Solutions’ SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading technology vendors in the form of its SPARK Matrix™. The study offers strategic information for users to evaluate different provider capabilities, competitive differentiation, and market position.
According to Pradnya Gugale, Senior Analyst at Quadrant Knowledge Solutions, “HPS’s integrated technology platform incorporates a merchant management solution with multi-channel coverage. The company’s end-to-end merchant management solutions includes merchant payment acceptance and disbursal, supported by the scalability, reliability, and quick response time inherent in a microservices architecture. The company also offers a cohesive catalog that facilitates effective product management and smooth merchant onboarding across diverse chains and segments through a master contract template, minimizing configuration errors and necessitating only parameter adjustments.”
“With its overall sophisticated functional offerings, strong customer value proposition, and robust roadmap, HPS continues to retain its positioning as a technology leader in the global market of 2023 SPARK Matrix™: Merchant Payment Platform and has received strong ratings across the parameters of technology excellence and customer impact,” she adds.
Abdeslam Alaoui Smaili, CEO of HPS, said: “We are incredibly excited about the impact our PowerCARD solutions are making in revolutionizing the payments ecosystem, ensuring that every transaction is both effortless and secure. At HPS, our passion lies in delivering cutting-edge technology that adds significant value for our customers, while providing our partners and stakeholders with a steadfast and dependable solution. We are truly honored to be recognized as market leaders in our field.”
Quadrant Knowledge Solutions defines Merchant Payment Platform as:
‘A unified solution that aids merchants in electronically accepting and managing payments, payouts, disbursals, settlements, and subscriptions, as well as resolving disputes, combating fraud and complying with global regulations. A merchant payment solution delivers end-to-end omnichannel payment processing services, such as in-store payments, online payments, and payments across multiple digital channels. The solution also offers multi-currency and multi-lingual capabilities that help merchants in accepting payment types such as mobile, eCommerce, and point-of-sale (POS) transactions through various card types, mobile wallets, ACH direct payments, and electronic payments via global network for payments.’
A comprehensive merchant payment solution encompasses payment acceptance, payout and settlement routing, and disbursement processes. It offers payment gateway services and ensures protection against fraudulent activities, all while adhering to global regulations. In any online transaction, four key parties are involved: the merchant, customer, issuing bank, and acquiring bank. This payment solution also provides a comprehensive overview of acquiring bank-related activities related to merchants, including onboarding, servicing, disputes, and payments. Additionally, it offers specialized programs for merchants. Supporting various payment options, it can connect different stores and merchants, enhancing sales figures and delivering a seamless customer experience. The demand for such solutions is expected to rise in the future due to widespread digital transformation and a growing preference for online shopping.
