We are happy to announce a new partnership with GPS, one of the companies that is practically invisible to the end customer – and yet, is a key component of the fintech ecosystem. GPS (Global Processing Services) is the Visa-backed, award-winning payments processing partner powering many of today’s most high-profile fintech innovators and disruptors, including Revolut and Starling Bank.
GPS is often referred to as fintech’s best kept secret – it allows consumer-facing companies to provide fast payments as a card processing backbone. When you pay via Revolut, for example, you don’t even realise how complicated the process behind the payment is and the technological innovations that have taken place to make this work.
Thanks to GPS’s services, these consumer-facing companies do not have to develop card processing from scratch, and can focus fully on providing the best user experience possible or on creating services tailored to specific customer groups. To bring fintech innovation within reach of new market entrants and ensure it is more efficient for experienced players, GPS challenges every detail of its operations and customer support, extending its effectiveness in breaking down barriers to fintech innovation.
“GPS is one of the most prestigious and well-established global payment solutions. At Vacuumlabs, we’re excited to have the opportunity to support an industry leader and continue on our mutual mission of building an ecosystem that drives innovation and digital transformation amongst fintechs, digital banks, and e-wallet providers,” said Tom Clementson, Group Head of Fintech at Vacuumlabs.
Samuel Hapák, Chief Executive Officer at Vacuumlabs added:
“We’re excited to partner with GPS, one of the leading global payments providers, and we look forward to helping them build world-class products for their customers around the world.”
Joanne Dewar, Chief Executive Officer at GPS, commented:
“Vacuumlabs have a proven history of working with leading fintechs, so it is a natural fit to be partnering with them, especially with our combined interests in enabling innovative solutions. Vacuumlabs is a trusted development partner which will allow GPS to increase our existing technical capabilities and further advance our mission of enabling financial empowerment for everyone.”
Vacuumlabs has a long track record in supporting the development of brands and companies that accelerate change in the world of financial services, which is evident in its recent roster of successes. These include being the first company ever to implement Thought Machine in Asia, building a next-generation digital bank, developing the 2030 Carbon Offset Calculator for Doconomy, and innovating for inclusion building Daylight, the very first LGBT+ digital banking platform in the USA.
Despite COVID-19’s impact on the market, Vacuumlabs has delivered consistent growth in 2020 and forged several strategic partnerships to support the next generation of fintechs in order to rebuild the global economy.
That growth is set to continue – find out why partnerships are important to GPS and learn more about GPS’s ongoing partnerships with companies such as Revolut and Curve in Banking on Air: Vacuumlabs’ podcast that covers the challenges, opportunities, perspectives, and opinions that matter to the fintech community — which featured Joanne Dewar on December 16th, 2020.
Global Processing Services (GPS) is the trusted and proven go-to payments processing partner for today’s leading challenger brands, including Revolut, Starling Bank and Curve. Founded in 2007, GPS’s highly flexible and configurable platform places the control firmly in the hands of global fintechs, digital banks and e-wallets, enabling them to deliver rich functionality to the cardholder.
GPS is certified by Mastercard and Visa to process and manage any credit, debit or prepaid card transaction globally, with offices in London, Newcastle, Singapore and Sydney. It is equipped to meet the stringent standards required by Tier 1 banks and has integrated with more than 40 issuing banks and operates programmes for 180+ clients in 60 countries, using over 150 currencies.
Vacuumlabs: a trusted global technology partner with a proven track record in successfully delivering full-stack fintech solutions that provides teams of agile, remote by nature, software engineers, and designers with years of experience building fintech, cryptocurrency, online marketplaces, and digital products.
Every step of the way, our experts guide our clients, ensuring they can rapidly learn and iterate. When it comes to world-class product development, we are here to be your guide and partner. From our seven offices, we guide our global clients in their product development needs. Since 2012, our team of engineers has grown to over 250, and today we count more than 60 clients around the world, from Europe to North America and Asia.