TSYS Signs Payments Agreement with QIIB
May 11 2017 - 1:00AM
Business Wire
Award-winning Qatari bank licenses PRIMESM
TSYS (NYSE: TSS) announced today that it has signed an agreement
with Qatar International Islamic Bank (QIIB) to license PRIME 4,
the latest version of TSYS’ future-focused PRIME payment solutions
platform.
QIIB is an award-winning Islamic bank that will leverage PRIME
as a consolidation platform to manage all of its card issuing and
multi-channel acquiring. By migrating to PRIME, QIIB will be able
to improve operational efficiencies across its business, enabling
it to better grow its current market offerings, covering
Sharia-compliant revolving, debit and prepaid card products with
EMV and contactless support, in addition to supporting eCommerce
issuing with its integrated next generation TSYS InterActivSM
technology.
“We selected TSYS on the strength of its global and domestic
experience in order to ensure that QIIB has best-of-breed tools to
continue our commitment to enhance and deliver top-quality products
and services to our customers,” said Mohammed AlMawlawi, general
manager, chief business development and marketing at QIIB. He
added, “By consolidating our cards onto the PRIME payments
platform, QIIB will be able to further enrich our clients’ payment
options at much lower costs.”
TSYS’ PRIME 4 solution is fully compliant with the Payment Card
Industry (PCI) Payment Application Data Security Standard (PA-DSS).
It has a strong track record of supporting Islamic banks across the
Middle East region in managing their Islamic Card product
portfolios and services in accordance with Sharia principles.
“We are pleased that QIIB has selected TSYS for its payments
platform. We are committed to the Qatari market where we have a
high level of expertise and knowledge. We will work closely with
the QIIB to help it meet its growth objectives and contribute
further to the development of the Qatari payments market as a
whole,” said Rene Kruse, chief operating officer, PRIME Business
Solutions and group executive, TSYS International.
TSYS has approximately 400 clients across more than 80 countries
around the globe. Its licensing footprint across the Middle East
and Africa region — where it currently supports more than 30 PRIME
clients — dates back to 1989.
About QIIB
Established in 1991, QIIB is one of the leading Islamic banks in
the Middle East and North African (MENA) region and is listed on
the Qatar Stock Exchange (QSE).
The Bank offers personal and corporate Islamic banking solutions
to its rapidly increasing retail and corporate customers. Over the
years, QIIB has seen many achievements in terms of maintaining
growth in its balance sheet and strengthening its financial
position despite unstable market factors.
International rating agencies had affirmed the Bank’s strong
position as it acquired distinguished credit ratings with an ‘A2’
from Moody’s and an ‘A+’ from Fitch with a stable outlook from both
agencies in 2016.
Within the framework of QIIB’s efforts to take its success to
the regional market, it acquired a license from Bank Al-Maghrib
(Morocco’s central bank) in 2016 to establish a joint venture
Islamic bank – ‘Umnia’ in the Kingdom of Morocco in partnership
with the Credit Immobilier et Hotelier.
About TSYS
TSYS® (NYSE: TSS) is a leading global payments provider,
offering seamless, secure and innovative solutions across the
payments spectrum — from issuer processing and merchant acquiring
to prepaid program management . We succeed because we put people,
and their needs, at the heart of every decision. It’s an approach
we call ‘People-Centered Payments®’.
Our headquarters are located in Columbus, Ga., U.S.A., with
approximately 11,500 team members and local offices spread across
13 countries. TSYS generated revenue of $4.2 billion in 2016, while
processing more than 25.5 billion transactions. We are a member of
The Civic 50 and were named one of the 2017 World's Most Ethical
Companies by Ethisphere magazine. TSYS is a member of the S&P
500 and routinely posts all important information on its website.
For more, visit tsys.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170510006704/en/
TSYS Media RelationsCyle Mims,
+1-706-644-3110cylemims@tsys.comorTSYS Investor RelationsShawn
Roberts, +1-706-644-6081shawnroberts@tsys.com
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