Bahrain based fintech IPS extends its collaboration with BPC
London/ Manana, January 10th 2023 – Leading payment solutions provider BPC has extended its collaboration with Bahrain-based International Payment Services B.S.C (closed) (“IPS”), a leading third party payments processing and payments firm. As part of the agreement, BPC will allow IPS to extend the use of its open system e-payment platform ‘SmartVista’.
Headquartered in Bahrain and licensed by the Central Bank of Bahrain, IPS supports banks and financial institutions to manage their end-to-end payment processing functions Since the launch of IPS in 2017, BPC has been engaged with IPS to help develop, certify products to support banks, fintechs, government entities and merchants with its state-of-the-art digital payments platform.
Through the use of BPC’s SmartVista platform, IPS is able to perform core payment activities that involve third party processing services, electronic payment gateway solutions, prepaid cards, wallets and switching services. The platform ensures the highest infrastructure standards and the most advanced security setups.
The complete range of products and services forms a part of the unified SmartVista platform which results in delivering a cost-effective solution.
Over the course of this four-year engagement, SmartVista’s integrated capabilities have helped leverage IPS’ business prospects in gaining significant market share while also serving as a hub for banks looking to optimize their operations in the Middle East and Africa.
IPS is now ready to take the next step in its scaling journey and through its renewed collaboration with BPC has extended its use of SmartVista. This will support the expansion of services as IPS welcomes more banks into its processing center for instant card issuing channel management including ATM, POS, internet and mobile banking, end-to-end merchant management and fraud prevention.
Commenting on the collaboration, Hany Al Deeb, Managing Director GCC & Iraq from BPC said: “Empowering other paytech companies to serve their own market is what we do best – and we are thrilled that so many are leveraging the robustness and capability of SmartVista to scale from a fintech to high volume processing firm. Since we first started working with IPS, the company has benefited greatly from SmartVista’s integrated capability for authorisation and switching, fraud monitoring and risk management, disputes and chargeback handling, and ATM management. Looking ahead we are delighted to be continuing our journey with the company as it embarks on new services for customers across new frontiers. “
Mr. Ebrahim Janahi, CEO of IPS said: “We have been really impressed by the technology and service that we have received from BPC and believe that they have been instrumental in achieving our business goals. As our company continues its rapid expansion, we are turning to BPC once again to help us extend the range of our client services using the SmarVista platform. The technology has proven that it works and we are confident that it will continue to deliver on its promise.”
Regulated and licensed by the Central Bank of Bahrain (CBB), IPS serves banks and financial institutions in the Middle East and Africa (MEA) region covering issuing, acquiring, ATM, digital banking and FinTech innovation. Established in the Kingdom of Bahrain in 2017, IPS is the fastest growing payments processor in the region with its innovative, secure and ingenious payment solutions to its clients.
Banks leverage IPS’ fully integrated omnichannel payments platform and robust IT infrastructure to seamlessly transform their legacy applications to state-of-the-art systems. Clients have benefited by quickly launching IPS digital payment solutions with newer revenue streams at significantly reduced costs.
Founded in 1996, BPC has transformed over the years to deliver innovative and best in class proven solutions which fit with today’s consumer lifestyle when banking, shopping or moving in both urban and rural areas, bridging real life and the digital world. With 350 customers across 100 countries globally, BPC collaborates with all ecosystem players ranging from tier one banks to neobanks, Payment Service Providers (PSPs) to large processors, ecommerce giants to start-up merchants, and government bodies to local hail riding companies. BPC’s SmartVista suite comprises cutting-edge banking, commerce and mobility solutions including digital banking, ATM & switching, payments processing, card and fraud management, financial inclusion, merchant portals, transport and smart cities solutions.