Payment Ponderings - A GPC Blog

Global Processing Centre (GPC), one of the largest payments processors in Latin America and the Caribbean, and Compass Plus Technologies, an international provider of retail banking and electronic payments software, are celebrating 10 years of successful collaboration.

GPC’s journey with Compass Plus Technologies started in 2012, when the processor embarked on a project to migrate away from its legacy system to launch a modern, scalable issuing and acquiring payments platform to better serve financial institutions (FIs) in Latin America and the Caribbean. This was to help GPC meet its strategic vision to facilitate a strong financial ecosystem and payment architecture, and provide convenient, secure and modern payment services to FIs in the region. Impressively, the migration of the processor’s entire card base and POS terminal network was completed in just three months.

Since then, GPC and Compass Plus Technologies have worked together over the past decade to deliver many exciting projects including:

• Multiple integrations with third parties such as Western Union to support prepaid card loading
• Enabling in-branch instant card issuance
• Supporting Fintech customers by offering them TranzAxis in a Platform as a Service capacity in order to launch innovative products at speed
• Launching SugaPay, a local payment ecosystem consisting of reloadable cards, POS terminals and a mobile wallet, which facilitated card payment acceptance for small businesses at large-scale entertainment events in Antigua
• Enabling Mastercard, Visa and UnionPay POS acquiring for merchants
• Supporting GPC’s expansion into the Canadian Independent ATM deployer (IAD) market, with acquiring services for Visa, Mastercard and Canadian Interac

Today, Compass Plus Technologies empowers GPC to deliver premium payment processing solutions globally to retail ATM operators, financial institutions and Fintechs across the Caribbean, Latin America and Canada, processing over 700,000 transactions monthly.

“From day one of our partnership, Compass Plus Technologies has provided us with the technology, skills and expertise we needed to expand and grow. They have played a big part in the development of our business, helping us solve the unique challenges we face and to deliver better experiences to our customers. We have enjoyed working together over the past decade and have grown to become long-term strategic partners. We look for to continuing our work to revolutionise the payments market.” commented Justin Stuart-Young, Head of Information Technology at Global Processing Centre.

Carlos Seer, AVP, Business Development Director at Compass Plus Technologies, said: “We’re extremely excited to have reached such a significant milestone in our partnership with GPC. It is an honour to work with such a forward-thinking business, helping them grow and expand their offering to better serve FIs and merchants across North America and the Caribbean. GPC have built a market-leading processing business using our technology and we are excited about what the future of our partnership will bring in terms of further innovations and developments.”