Hightech Payment Systems HPS is gearing up for a period of intense expansion that could see it potentially acquire smaller rivals as it eyes a bigger slice of the international payments market. The Moroccan financial technology firm, which offers its flagship powerCARD payment solution to more than 500 institutions in 95 countries, is seeking to grow its annual revenues to between 220m and 300m by 2027.
Abdeslam Alaoui Smaili, HPS CEO and co-founder, tells African Business that the firm is on track to meet these ambitious goals, pointing to the past year's results. In 2024, the company reported revenues of 1.267bn Moroccan dirham 140m, a 6.4 year-on-year increase. "We're halfway there," he says, adding that "about 10 to 15 of future revenue growth will come from organic strategies and another 10 to 15 through acquisitions that make sense."
Last year, the firm bought Dublin-based CR2, a digital banking and payment software developer, for an undisclosed amount. According to the firm's investor presentation, the acquisition of CR2 is anticipated to contribute 30M in revenues in 2025. The deal also gives HPS access to a client portfolio, including three new global top 100 banks.
Actively seeking acquisitionsOn the back of the CR2 acquisition, Smaili says the firm is actively seeking new deals.
"We have a team looking at different targets around the globe. They follow three rules when assessing opportunities. The first one is: can we get the technology faster if we acquire another company than if we build it ourselves?"