Global Processing Services (GPS), one of the prominent international payment technology platforms, announced yesterday that the company has secured over $300 million in funding to accelerate its technology development and international expansion.

In an official announcement, GPS mentioned that the company has raised the funds from Advent International and Viking Global Investors. In October 2020, Visa, the US-based financial services giant, announced an investment in GPS.

Through the latest funds, GPS is planning to expand its presence across different regions including Europe, Asia-Pacific and the Middle East. The company aims to accelerate its product innovation to meet the growing demand.

“GPS provides key  Payments  Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term technology infrastructure, enabling the global fintech revolution. Their agile, resilient and modern  Cloud  Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing concepts performing run time series analysis (or trend analysis), and execute trades in real-time.Advantages of Cloud Computing in TradingAn advantage that stems from cloud computing would be that entities don’t need to construct a data center infrastructure themselves.Instead, entities can conduct trials and perform refinements, and should no solutions pan out then the cloud may be shut down while the payment terminated at the same time. This methodology of renting virtual space and time in cloud tends to be far more appealing than the costs, time, and resources required with constructing hardware and software infrastructures.These also happen to be the exact concept used in SaaS with trading related software.While executing trades via the cloud is an important capability to keep intact, most retail traders are drawn to the cloud for the research, backtesting, and analytics advantages that stem from using the cloud. In forex, traders that use Expert Advisors (EAs) and automated trading software are uploading their solutions onto a broker’s cloud account. The cloud is an ecosystem for multiple industries, sectors, and niches. Its versatility has not been peaked while in trading many retail traders are transitioning to cloud computing as a means to reduce expenditures, optimize efficiency, and maximize available resources. The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing concepts performing run time series analysis (or trend analysis), and execute trades in real-time.Advantages of Cloud Computing in TradingAn advantage that stems from cloud computing would be that entities don’t need to construct a data center infrastructure themselves.Instead, entities can conduct trials and perform refinements, and should no solutions pan out then the cloud may be shut down while the payment terminated at the same time. This methodology of renting virtual space and time in cloud tends to be far more appealing than the costs, time, and resources required with constructing hardware and software infrastructures.These also happen to be the exact concept used in SaaS with trading related software.While executing trades via the cloud is an important capability to keep intact, most retail traders are drawn to the cloud for the research, backtesting, and analytics advantages that stem from using the cloud. In forex, traders that use Expert Advisors (EAs) and automated trading software are uploading their solutions onto a broker’s cloud account. The cloud is an ecosystem for multiple industries, sectors, and niches. Its versatility has not been peaked while in trading many retail traders are transitioning to cloud computing as a means to reduce expenditures, optimize efficiency, and maximize available resources. Read this Term platform drives some of the most innovative use cases and allows fintech companies to globalize through a single API,” commented Peter James, Director at Advent International.

According to GPS, the global API-first payment technology platform of the company powers the world’s leading financial technology platforms, including Revolut, Curve, Starling Bank, Zilch, WeLab Bank and Paidy. Its platform has facilitated several unicorns across Europe, the Middle East and Asia-Pacific.

Global Fintech Sector

The global financial technology sector attracted record investment during the first half of 2021. Leading payment technology firms raised significant funding during H1 of 2021. In the recent announcement, GPS mentioned that the company is simplifying access to the global digital payment ecosystem. “We are delighted to partner with Advent and Viking, with their deep experience and track record in payments and fintech, and, who share our bold vision for the next generation of global payments,” said Joanne Dewar, Chief Executive Officer at GPS.

“GPS has been at the heart of the global fintech explosion, simplifying access to the global rails of the new digital payments era. This investment will allow us to turbocharge our geographic footprint and product expansion plans as we drive the payments ecosystem in the key verticals of today and tomorrow, including digital banking, Buy Now Pay Later, B2B virtual cards, financial empowerment, and much more,” Dewar added.