QPS, the world’s leading card issuance and processing platform, announced its expansion in the European continent by officially launching its services in the United Kingdom.
Launched in 2019, QPS has already established itself as the pioneers in the card issuing ecosystem of India and has now set its eyes on the fast growing European market. By optimising its secure open API issuer processing platform, QPS would be focussing on the real needs of the end user and would enable companies to customise their unique card programmes.
The company will invest £10m and create 100 new jobs, including several high skilled positions in the Tech and Fintech industry, the release said.
UK Prime Minister Boris Johnson said, “Trade and investment between the UK and India is creating good jobs and sustaining livelihoods in both of our countries. I’m very pleased that QPS has decided to join the legions of Indian companies investing in the UK, boosting our FinTech sector and driving economic growth.”
Speaking on the launch Vinay Kalantri, Founder & CEO said, “Expanding our business operations to the United Kingdom, establishes us as one of the fastest growing fintech companies from India. We are the latest entrant in this highly competitive and fast growing ecosystem and have managed to scale our operations by purely focus on technology disruption. We believe in innovative our technology based solutions as per the actual needs of the users, rather than developing solutions on the existing technology.”
Kalantri further added, “The United Kingdom is one of the fastest growing fintech markets in the world and is ideal for QPS to showcase its technological prowess. We truly believe that technology could be the defining factor that would enable us to capture 20% of card issuing market within the first 2 years. We are also looking at clocking up revenues to the tune of £100 million in the next three years by targeting the overall BFS industry of The United Kingdom. We are truly grateful to the Government of United Kingdom for giving us this opportunity and look forward to a fruitful business association with them.”
Incorporated in February 2019 by Vinay Kalantri, the company is headquartered in Mumbai and a back-office stationed in Chennai. Listed as 50 Most Promising Entrepreneurs of 2017, 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 one member based out of 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.
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