November 2022, 29 – Global payments provider BPC today announced that it has launched Software as a service (SaaS) processing in Pakistan, through PCI DSS-certified local cloud data centre to serve the growing demand for cloud services from banks, fintechs, and payment enablers.
Since establishing itself in Pakistan as a solution provider in 2019, BPC has been powering technology solutions and accelerating the nation’s rapid and recent digital transformation. With a population of over 220 million and a large mobile penetration rate, Pakistan has seen enormous growth in digital payments, both in value and volume of transactions – leading to rising demand for SaaS services.
Since regulation requires on-soil processing of cards and consumer data, this latest development sees exciting new opportunities for SaaS popularity throughout the region. This cloud-based software delivery model is increasingly required in the payments industry, especially in developing markets like Pakistan, where the use of payment cards is surging, along with the need for heightened online security among customer payments.
Ahson Saeed, MD Pakistan, BPC, commented: “Now more than ever, financial institutions need more than technology - they need partners that can share knowledge and operational expertise, keeping the focus on the client and end-user experience. We’re thrilled to be offering world-class solutions under SaaS with clear cost benefits under the pay-as-you-grow model, which positions us to serve the growing fintech segment of the payment industry in the country.”
SaaS represents many benefits for financial institutions. As the SaaS provider manages the application software, updates, as well as hardware, SaaS customers can dramatically lower their costs while being able to scale and upgrade business solutions quickly and easily – all while being able to predict costs with greater accuracy.
The local SaaS offering also strengthens the firm’s O-CITY and Marketplace solution offerings to government and other industry sectors. The firm has already achieved impressive penetration in Pakistan, including partnering with banks like Meezan Bank and Samba Bank to enable cross-vertical digital banking transformation and extend market reach through various collaborations.
This latest development complements the existing end-to-end banking and payment services offered by BPC, including a wide range of cloud-based white-label services. These spans digital banking, merchant management, ATM & POS acquiring, card management, fraud prevention, ACS, and integration platform, among many others, along with the skilled, local teams to support financial institutions.