TSYS (NYSE: TSS) announced today that it has signed an agreement to license its PRIME payment transaction processing platform to Metrobank Card Corporation (MCC) in the Philippines.
MCC is a strategic joint venture between Metrobank and Australia New Zealand Bank and is one of the largest issuers and acquirers in the Philippines' market.
MCC will license PRIME 4, the latest version of the payment processing platform, to manage its multi-payment card issuing and merchant acquiring together with online authorization and switching on a single platform. Value-added services for installments, credit, loyalty, collections, dispute and chargeback management and acquirer fraud monitoring will also be offered as part of PRIME 4's integrated payment solution.
"We chose TSYS after an in-depth analysis of global vendors and their payment processing solutions. TSYS stood out for us, not simply as a vendor — but as a provider who could support our future vision and growth ambitions," said Riko Abdurrahman, president, MCC. "With PRIME's inherent flexibility and user-empowerment capabilities including Web-based services, high level of paramaterisation, a unique integration layer and extensive APIs, we will be excellently positioned to accelerate our speed-to-market in launching new card products and creating greater customer value through flexible payment options and innovative services for the Philippines' market."
MCC will deploy PRIME 4 to manage its growing credit and commercial card portfolios and will leverage PRIME's global expertise to bring to market new and innovative payment products.
"Our migration expertise and feature-rich platform, combined with best-of-breed fraud monitoring and value-added services, create a compelling value proposition for MCC," said Amit Sethi, Managing Director, Asia, Middle East and Africa, TSYS International. "We are delighted with the opportunity to work with MCC to further accelerate the growth of the Philippines' payments market and broaden access to a wider range of card payment services for MCC customers."