In recognition of its pioneering work in reshaping financial services, ProgressSoft has been honored with two prestigious accolades at The Digital Banker’s Global Cards & Payments Innovation Awards 2025: ‘Best PayTech Partnership of the Year’ and ‘Best Technology Implementation – Overall.’ These awards celebrate the corporation’s ability to deliver transformative solutions in collaboration with financial institutions and payment solution providers, underscoring its position as a trusted leader in the global payments landscape.
Since 1989, ProgressSoft Corporation has been providing innovative payment solutions tailored to the needs of the global financial sector. The company’s commitment to innovation, quality and customer satisfaction has earned it a loyal customer base of more than 380 banks, central banks and payment service providers in 26 countries.
Building on its legacy of innovation, ProgressSoft is implementing solutions across financial institutions to address unique requirements and strategic goals. These implementations support a variety of objectives from enhancing operational efficiency and regulatory compliance to enabling modernization and innovation in financial services, reflecting its continued commitment to delivering impactful and future-ready technologies.
Powering Qpay: A Partnership for Financial Inclusion
One of the standout implementations was ProgressSoft’s collaboration with Fintech Solutions for the launch of Qpay, a platform powered by ProgressSoft’s Buy Now Pay Later (PS-BNPL) solution that offers consumers interest-free installment plans. Qpay allows shoppers to split purchases into flexible payments while merchants receive full payment upfront.
Licensed by the Central Bank of Oman and designed to be Sharia-compliant, Qpay is driving innovation and financial inclusion in the Sultanate of Oman. It also secured seed funding led by Cyfr Capital under the Future Fund Oman initiative to support the country’s financial sector.
Through this partnership, ProgressSoft and Fintech Solutions built a robust BNPL platform that enables seamless merchant integration, ensures regulatory compliance, and applies strong encryption with industry-standard data protection. The system is optimized to handle high transaction volumes with minimal latency, providing a reliable user experience that scales with adoption.
This achievement earned ProgressSoft the ‘Best PayTech Partnership of the Year’ award at the Global Cards & Payments Innovation Awards 2025, hosted by The Digital Banker.
Revolutionizing Instant Payments in Algeria
ProgressSoft launched a nationwide instant payments project in Algeria in collaboration with Société d’Automatisation des Transactions Interbancaires et de Monétique (SATIM), a subsidiary of seven banks specializing in automating interbank transactions and electronic payment systems.
The project aimed to transform Algeria’s financial infrastructure by enabling seamless, nationwide instant payments across various transaction types, including person-to-person, person-to-business, business-to-business and governmental transactions. It promotes financial inclusion, mitigates risks, stimulates innovation within the banking sector and reshapes the nation’s payment ecosystem.
To support inclusive growth, the system provides immediate fund access and optimized liquidity management through a 24/7 operational platform that supports multiple settlement cycles, ensuring uninterrupted transactions such as account-to-account, account-to-wallet, and wallet-to-wallet transfers.
SATIM implemented ProgressSoft’s Interoperable Instant Payments System, which emphasizes user-friendliness, multilingual interfaces and strict adherence to ISO 20022 payment standards. By leveraging advanced technologies and complying with international security standards, the system ensures end-to-end encryption, real-time monitoring and seamless integration with existing infrastructure. It also enhances SATIM’s ability to process transactions more efficiently, reducing operational risks and ensuring regulatory compliance.
This achievement earned ProgressSoft the ‘Best Technology Implementation – Overall’ award at the Global Cards & Payments Innovation Awards 2025.
Expanding Global Impact
Through strategic collaborations and advanced payment solutions, ProgressSoft continues to empower financial institutions worldwide. From enabling Qpay’s innovative BNPL platform in Oman to revolutionizing instant payments in Algeria, the corporation demonstrates a consistent commitment to innovation, financial inclusion and operational excellence.
These achievements, recognized with awards for both partnership and technology implementation, highlight ProgressSoft’s role as a trusted leader in shaping the future of global payments.
