Tsys today announced it has signed a licensing agreement with Imperial Bank, Kenya, for Prime 4, the latest version of its card and merchant management solution.
Imperial Bank will deploy the solution to manage the issuance of its Visa credit, debit and prepaid card portfolios in Kenya and Uganda.
Imperial Bank selected TSYS based on PRIME 4's comprehensive functionality and suitability for fast market penetration, new product launches and support for multiple institutions, multiple countries, multiple currencies and multiple products.
Imperial Bank marks TSYS 15th client in Africa, a diverse payments market that is rapidly evolving and widely recognized as having tremendous growth potential. TSYS has a local presence in Johannesburg and Cape Town.
"We sought a secure card processing platform with user-friendly functionality to support our expansion strategy, and wanted a trusted partner with a proven track record in the market," said Abdulmalek Janmohamed, managing director, Imperial Bank. "In TSYS we found all these requirements and more. We now have a market-leading solution backed by a support model which leverages more than 25 years experience in the payments space."
Based on service-orientated architecture (SOA), PRIME 4 is an extremely agile single platform solution for issuing and acquiring. It seamlessly integrates functionality for card issuing and merchant acquiring with real-time online authorisation and switching, fraud detection and risk management, ATM management and dispute and chargeback handling. It includes value-added services such as loyalty, instalments, 3D Secure and extensive workflow capabilities to increase operational efficiency and help drive down costs. Its unique delivery model supports deployment in a licensed and outsourced environment on a single platform, and hybrid combinations of licensing and value-added outsourced services.
"We are excited to announce Imperial Bank as a new PRIME 4 client," said Kelley Knutson, executive vice president, TSYS International. "PRIME 4 is our latest offering in the licensing arena and has been designed to accommodate the evolving needs of issuing and acquiring institutions, such as increased agility, operational efficiency, security, risk management and compliance, to name a few."