- Aims to generate a revenue of £100 million within the first 3 years
- The company will invest £10m and create job opportunities
- Targeting 20% of the market share customers within the first 24 months of operations
- The Indian tech firm sets up global headquarters in London working with support from the Department for International Trade
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.
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.”
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Speaking on the launch Mr. 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.”
QPS is focussed on breaking the mould of this legacy ecosystem by constantly evolving its backend technology. With the help of world-class APIs along and a dedicated developer portal with a modern core banking platform, QPS provides an instantly accessible private sandbox environment for its clients. Companies could now have a modern card system showing real time data points on credit limits, reward points, transactions, etc. It also gives companies a unique plug-and-play model that would enable them to launch new features with absolute ease.
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Mr. 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.”
