Qatar National Bank inks TSYS licence deal
Georgia (US), May 15, 2012
Qatar National Bank (QNB) said it has signed a licensing agreement with US-based TSYS, one of the largest processors of merchant acquirers and bank credit card issuers, for its Prime 4 solution.
A TSYS client since 1999, QNB said Prime 4 is the latest version of TSYS’card and merchant management solution.
QNB will leverage the Prime 4 upgrade for multiple countries, multiple languages and multiple currencies on a multi-institutional platform to achieve its cross-border expansion policy, said a top official.
“QNB relies on the outstanding performance of our bankcard systems to maintain our market leading position and support our continuing international expansion,” remarked Adel Al Malki, GM of Information Technology, QNB.
Robust and scalable, Prime 4 offers a cost-effective single platform licensing solution for issuing and acquiring with built-in, rule-based technology to monitor and detect suspicious transactions in real time, he stated.
Its extensive workflow capabilities support integrated dispute and chargeback handling with parameter-driven technology to improve operational efficiency, increase speed to market and drive down costs.
“The system's support for multi-institutions, enhanced security, increased flexibility and easier PCI compliance all factored into the decision to upgrade to TSYS’ PRIME 4 platform,” Al Malki noted.
The Qatari bank, he said, had earlier deployed Prime to manage the issuance of its expanding cards portfolio because of its market-leading flexibility, ease of use and speed-to-market capabilities, to help exceed its growth targets.
Commenting on the deal, Jaffar Agha-Jaffar, the managing director, Middle East, Africa and Pakistan region, TSYS said, “We are delighted to be able to continue supporting QNB’s operations with our proven, flexible systems.”
“Prime 4 will enable QNB to maintain its strong competitive advantage by providing the multi-country expansion support required to meet its evolving needs,” he added.
The Prime licensing platform has an extensive reach throughout Europe, CIS, the Middle East, Africa and Asia, with a footprint that extends across more than 70 countries for more than 130 clients.-TradeArabia News Service