Gurgaon, India, 10th February 2016: Next Generation Payment Processing specialist, QPS, today announced that the company has been approved by VISA Inc. as a Global VISANet Third Party Processor, with effect from April 2016.
This certification will allow QPS to connect directly to VISANet and provide issuer and acquirer card processing services to VISA clients comprising Banks, Financial Institutions, Merchants and other Service Providers located across the globe.
Banks and Financial Institutions, in addition to utilizing QPS’s full service Credit, Debit and Prepaid Cards Processing, can now also avail VISA End Point services from QPS as a Visa certified service provider, without the need to make upfront capital investments required to operate their end point.
Mr. Rajesh Dhuddu, Senior Vice President at QPS says, “The confirmation from VISA Inc. has come at an opportune time when the payments landscape in India is being redefined with the entry of new Banks, Payment Banks and Small Finance Banks. These new financial institutions and existing ones too are actively looking for innovative business models to introduce new products and services, accelerate their time to market and reduce overall total cost of ownership of banking technologies and processing capabilities. QPS is uniquely poised to partner with Financial Institutions to accomplish these objectives.
We are also delighted to earn the distinction of being a net new Payment Processor over the last several years in the Global Payments landscape.”
QPS, through a combination of proprietary payment processing and switching technologies and through collaboration with partnering FinTech companies, is strategically positioned to become a preferred payment processor for Financial Institutions not only in India but also globally.
Mr. T R Ramachandran, Group Country Manager, India and South Asia, Visa, says, “Third party payment processors are increasingly becoming an important part of the payments ecosystem, helping banks and issuers with a wide array of transaction processing services and providing speed and agility to their processing capabilities. Visa is happy to expand the reach with the support of third party processors who uphold Visa’s core values of reliability, security and speed and welcomes QPS.”
QPS Media Contact:
Associate Vice President – Market Development
Tel: +91 124 4561000
India & South Asia
Tel: +91 22 66884147
QPS, a division of QPS, is a leading payment processing services provider to Banks, Financial Institutions, Merchants and Payment Gateways worldwide. The company’s core team of over 400 seasoned associates consists of payments / cards transaction processing analysts, risk management professionals and technology experts with a track record of providing card processing services in USA, India, Middle East and South East Asia.
QPS’ payment technologies offer Card Management Systems with an integrated switch that supports Issuing, Acquiring, Mobile POS, ATM driving and Payment Gateways using one platform and interface.
QPS payment solutions are built based on expertise in payment programs, product development, payment processing technology, loyalty and rewards solutions, payment security, consulting and information services. The company is uniquely positioned to offer next generation payments processing services providing unmatched ROI to financial institutions, merchants, payment gateways, processors and program managers.
For more information, please reach out to us at www.qpsinternational.com
About VISA Inc.:
Visa Inc. (NYSE: V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products.