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Societe Generale selects HPS to develop payment operations in Africa

Societe Generale, one of Europe’s largest banks with operations across the world, has selected HPS to improve the payment processing activities for ten African subsidiaries.

By migrating to HPS’ technology, Societe Generale will have a single integrated platform that covers the entire payment value chain allowing payments innovation to be accelerated and new products to be brought to market easily. This is essential in an era where customers are demanding quick, easy, digital and uninterrupted payments processing. These expectations are particularly noticeable in Africa.

Africa is a key market in Societe Generale’s growth strategy. Operating in 19 African countries, the bank has a unique position in the region, which allows it to offer its clients the expertise and know-how of an international bank and the proximity of a local bank. In Africa, the Group supports local economies and serves 4.1 million customers, including 150,000 businesses.

The project will initially focus on the migration of Société Générale’s electronic payment operations in Africa to HPS Platform for Cards Issuing, PoS and ATM Acquiring activities.

“Keeping up with the digital payments revolution is one of the biggest challenges facing financial institutions today, especially in Africa. In particular, it aims to converge the banking universe with the mobile operators’ one with the objective of making transactions faster or even instantly,” says Nicolas Revol, Head of Payment Solutions for International Retail Banking, at Societe Generale

“HPS has been involved in implementing many pan-African payment hub platforms. Their expertise on payment solutions and their African footprint will be essential to support Societe Generale in its innovation and growth dynamics in Africa.”

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