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With its proximity to the European market, capitalising on its multilingual workforce, Morocco confirms its prime position in the outsourcing field and HPS, with its headquarters in Casablanca, is no exception to the rule. With solutions and services rolled out in more than 90 countries, in the five continents, in mature and emerging economies, HPS’ operational excellence is based on gradual international deployment, guided by a policy of geographical proximity with its markets, and supported by
the flexible organization and continuous optimization of its operational processes.

This article allows insights into the operation of one of the leading payment service providers focusing on development and implementations of innovative payment solutions, not only on the domestic market in Morocco but also internationally.

Photo by Adeolu Eletu on Unsplash

Europe represents one of the most important markets in the industry, mainly due to the proliferation of innovative payment solutions and the development of mobile payments. Indeed, the European market is primarily guided by regulatory developments and the adoption of innovations to best improve user experience.

Our understanding of the technological and regulatory developments that impact our industry is based on our continuous regulatory watch, our collaboration with our partners and key industry players. This regulatory readiness allows us to best anticipate current and future requirements within the sector.

Besides the regulatory readiness, our products and services remain up the highest standards and not only follow the latest trends but HPS also participate in its definitions. As an example since 2016, HPS has been a central member of Nexo, an organisation whose mission is to define the standards for the international card payment market.

Being the main contributor to the ISO 20022 standard, Nexo aims to promote global interoperability between issuers and acquirers. Furthermore, it’s important for us to meet another expectation from our SaaS’ customers that is to keep the data processed in the European continent.

During 2018, we also launched PowerCARD Connect-Open API, an open banking compliant layer that enables FinTechs and conventional Banks to collaborate and offer first call products to their end customers enabling them to benefit from the latest technology in the payments industry, such as mobile and contactless payments, tokenisation and biometrics, thus delivering an enhanced digital-first and secure user experience for both consumers and merchants.

The European Union has been an especially active market for financial services APIs, especially after PSD2 regulations came into effect that require financial institutions to make data available to third-party developers.

Governance

Governance plays a role of strategic importance for HPS, through its open corporate culture and positioning as a benchmark in a highly strategic industry.

From creation, through opening its capital, stock market listing and international development, HPS has regularly enhanced its governance system through the bodies and expertise required for the creation of lasting and fairly shared value. For this reason, HPS aims at implementing strict norms and efficient governance processes to ensure that all operations create long-term value for all stakeholders. This involves the maintenance of an efficient organizational structure, systems for internal control and risk management and transparent internal and external reporting.

HPS’ Group comprises 7 companies based in 5 countries with sales in approximately 90 markets. The parent company of the Group is a public Moroccan limited liability company and listed on the Casablanca Stock Exchange.

The governance of HPS is based on the Moroccan public limited company law, as well as other relevant Moroccan and foreign laws, regulations and best practices.

HPS is governed by a Board of Directors, supported by an Executive Committee.

These two bodies oversee the development and implementation of the Group’s strategies, the day-to-day management of which is led by a set of carefully organised teams.

Photo by Youssef Bouhsini on Unsplash

The Board of Directors determines the vision along with the management that oversees the strategy to achieve it. It also makes decisions regarding the Group’s main strategic, economic and financial approaches, and any other matters within
its purview in accordance with the law.

A Remuneration Committee has also been set up by the Board in order to assist it in its duties. Its principal tasks include defining the general principles of the Group’s wage policy and managing remuneration paid to Executive Committee members.

A Risk & Audit Committee has also been set up to evaluate and improve internal control and risk management processes and to ensure that the Group’s financial information is reliable.

The Board of Directors is composed of 10 members, including 4 independent members with a great experience in various multinationals. They are Canadian, French, Moroccan and Spanish nationals. The other members are executive and non-executive directors.

The Executive Committee is set to monitor and manage the Group’s strategy execution and operational performance. Its main duties are to translate the strategic approaches defined by the Board of Directors into operational action plans, to assist General Management in the definition of the Group’s priorities, to monitor operational performance and to set up action plans. In essence, the Executive Committee is a working body dedicated to the management of the Group’s operations, reporting directly to the Chairman of the Board of Directors.

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