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GPS selected as London export champions for international trade

by LLB staff reporter
17th Nov 20 10:55 am

Leading payments issuer processor, Global Processing Services (GPS), has been selected by the Department for International Trade (DIT) to become a London Export Champion. GPS joins a prestigious cohort of Export Champions who operate across various sectors, ranging from fintech to sustainable transportation, innovative food and drink products, to events management.

The Export Champion programme seeks to form a community of business leaders who have successfully sold overseas and are prepared to share their time and experience to encourage more companies to export. It forms a crucial part of the DIT’s Export Strategy, launched in 2018 to increase the value of GDP through exports from 30% to 35%.

With the support of the DIT and the Singaporean Economic Development Board, GPS brought the epicentre of the European fintech revolution to APAC in 2019, supporting high-profile clients including Revolut with its expansion into Australia, New Zealand, Singapore and Japan.

GPS has also delivered successful programmes for some of the region’s most forward-thinking companies, including Razer Fintech, one of the largest offline-to-online digital payment networks in South East Asia; WeLab Bank, the first homegrown virtual bank in Hong Kong; and Xinja, the second Australian neobank to be made an authorised deposit-taking institution. Now, its global expansion efforts will be further accelerated by a recent strategic investment from Visa Inc., the world’s leader in digital payments.

Joanne Dewar, Chief Executive Officer of GPS, said “It is a real honour to be invited to become a Department for International Trade (DIT) London Export Champion for 2020. The UK has been a torchbearer for the global fintech revolution thus far, and with the help of the DIT’s Fintech Bridges, we were able to effectively navigate the regulatory complexities involved in expanding internationally, successfully launching our Singaporean and Sydney offices last year.”

GPS was also invited by HM Treasury to participate in an independent strategic review of the UK Fintech Sector, chaired by Ron Kalifa OBE, which explores how the fintech industry, regulators and policymakers can work together to ensure the continued success of UK-based fintechs. GPS contributes to the review’s ‘international attractiveness’ workstream, in line with its mission of ‘scaling sensibly’ through focused and sustainable regional capabilities.

James Watts, Deputy Head, London Trade and Investment at the DIT added, “We are delighted to welcome GPS into the London Export Champions Programme run by the DIT London team. Export Champions in London have only been going since March 2019, but in that time have delivered over 500 different activities to support exporters in London, from sharing their experience in overseas markets, to supporting businesses starting out in exporting, and promoting the export services DIT offers more widely. We’re really excited to now have a cutting-edge leader such as GPS join us in extending that support further into London’s world-class fintech community.”

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