Fintech Startup QPS Global Invests USD 10Mn To Expand

With this fresh investment, the company intends to expand its presence across key markets like Saudi Arabia, Qatar, Oman, and Kuwait by March 2022

Que Processing Services (QPS Global), the world’s leading card issuance and processing platform is all set to expand its operations across the Middle East by investing USD 10mn in the next 6-12 months.

QPS has recently announced its expansion across the European continent, with an investment of 10mn pounds to set up its operations in London. With its secured open API processing platform, QPS would be focussing on the real needs of the end-user by enabling companies to customize their unique card offerings. With this fresh investment, the company intends to expand its presence across key markets like Saudi Arabia, Qatar, Oman, and Kuwait by March 2022.

Speaking on the expansion plans, Mr. Vinay Kalantri, CEO & Founder, QPS Global said, “After expanding our reach in the European markets, we are now entering the Middle East by purely focusing on our technological disruption. In fact, we have already secured a deal of issuing 2.3 million prepaid cards across the Middle East market. Going forward, we are also looking at clocking up revenues to the tune of £100 million USD in the next two-three years across India, UAE & UK.” With the help of world-class APIs and a dedicated developer portal with a modern core banking platform, QPS provides an instantly accessible private sandbox environment for its clients. Going forward the company intends to hire 300+ employees globally to support its business expansion plans.

Speaking on the expansion plan, Mr. Kalantri further added, “We are looking at acquiring at least a 20 percent market share in the card issuance industry by onboarding brands across BFSI, Fintech, travel, D2C, and e-commerce. With our technology stack, brands can now launch new products and services in a matter of hours. Our goal is to constantly revolutionize the card industry by keeping in mind the end consumer’s day-to-day requirements.” About QPS: QPS is a leading B2B service provider offering a fully managed card issuance and processing platform, which is integrated with the banks as well as payment servers. 

Incorporated in February 2019 by Mr. Vinay Kalantri, the company is headquartered in Mumbai and a back-office stationed in Chennai. Listed as 50 Most Promising Entrepreneurs of 2017, Mr. Vinay Kalantari has been a part of the Fintech fraternity for more than two decades. Partnering with other Fintech giants like Sify, Trend Micro, Thales, Mastercard, VISA, and Rupay, QPS delivers an extensive Open API issuing CMS. Presently, QPS has a team of 20 members based in India and a few more in Dubai. This team has together earned a global clientele in the past two years and QPS aspires to expand its reach in the Middle East, UK, and Europe. Considered the most vibrant start-ups in Fintech, QPS aims to provide end-to-end and cutting-edge secure payment solution with real-time customer and data insights that enables innovation and helps businesses adapt, scale and optimize.

Source: Business World

By AlJazeera