Payments issuer processor Global Processing Services (GPS), has announced it is launching its Asia-Pacific (APAC) hub, headquartered in Singapore.
The announcement, made at the Singapore Fintech Festival, sees GPS trust in Singapore to provide the best support to its existing clients and leading regional banking providers through its Apex platform.
Attending the launch, Joanne Dewar, CEO at GPS, stated: “Making the move out to Singapore is the natural next step in our development as the leading payment processor.
“We pride ourselves on the role we have played in the fintech revolution to date, and needed an APAC base to extend our reach and continue to offer the same level of service to existing and new customers.
“Singapore was an easy choice – it means not only that we can support our clients as they grow, but that we can take an active part in the current fintech revolution going on there.”
The GPS Apex platform is said to offer “unmatched levels of configurability.” This, in turn, is expected to support challenger brands with encouragement needed to put control back into the hands of its consumers via their smartphones.
This new technology aims to set GPS Apex apart, especially when coupled with GPS’ ability to obtain immediate customer feedback on launched products as well as the support it provides to launch challengers.
Linda Sein, Executive Director, Investment Facilitation, Singapore Economic Development Board (EDB), added: “Global Processing Services’ (GPS) decision to set up their APAC hub in Singapore is testament to the city-state’s position as a leading business and fintech hub.
“We are pleased to have GPS be part of Singapore’s growing fintech ecosystem, and look forward to its APAC hub contributing to the company’s success and growth.”
The platform offers integration with fintechs, digital banks and ewallet providers, as well as many other service providers, with the aim of enabling both virtual and physical card payments.
Moreover, GPS is also recognised as being at the centre of Europe’s fintech revolution, having launched fintech unicorns which includes Revolut, Monzo and Starling Bank on the Apex platform.
Nik Storonsky, CEO and Founder at Revolut commented: “We’re thrilled that GPS has decided to launch into the APAC market. As Revolut expands across the region, it’s comforting to know that the GPS team is supporting us on our journey. We’re looking forward to working alongside them as we continue to roll out across the region.”
GPS is now looking to replicate its success within Europe in Singapore which is known as the global heart of Fintech. The new Hub in Singapore is set to support existing client expansion and regional client needs as fintechs look to scale internationally.