Syrse selects Iris suite to run African payments platform

Source: Iris

Syrse Group, one of Africa’s leading e-payments system integrator, has chosen IRIS as the next generation enterprise application suite to drive its multi-institution e-payments platform in Africa.

With IRIS suite, the platform will enable hosting of multiple banks and telecoms to offer digital banking and financial inclusion services for customers.

This hosted setup will be one of its kind meeting PCI compliance standards and offering all in one from switching, prepaid and mobile money services in the West and Central Africa. IRIS being the next generation enterprise application suite will drive complete ATM and POS offering via Visa & MasterCard EMV issuance and acquiring. Customers will have the benefit of 24/7 access to banking services. Comprehensive merchant management solution that this suite provides enables banks to configure, monitor, control and manage its diverse touch points.

Prepaid card management functionality in the IRIS suite will enable banks to launch localized prepaid cards meeting the needs of customers. IRIS multi-tenant prepaid card would enable Syrse to sign up new banks and help them launch variety of prepaid cards both for retail and corporate customers. IRIS prepaid offers complete control on the life cycle of the prepaid program from issuance to activation and management.
Africa, a continent where less than 30% of the population has bank accounts, has the largest take-up of mobile money in the world. Many companies are taking advantage of this opportunity to steer emerging African economies toward a mobile-driven cashless future. With Mobile wallet and agent banking integrated in Multi Institution IRIS Mobile Money, financial institution will be able to offer mobile money services to under-banked customers in the region. Customers would be enabled to open mobile accounts remotely and perform transactions using multiple channels including SMS, POS and Mobile App. The agent banking solution provides comprehensive agent and customer management tools so banks can focus on creating agent network and increasing customer signups while saving infrastructure and setup costs.

Being a PADSS certified and PCIDSS compliant solution from TPS, IRIS has received international accolades and customer endorsements for its reliability, flexibility, ease of use and extended parameterization.

“Since financial institutions demand innovative, fast and cost-effective deployment models for their banking solutions, we needed a highly flexible, cloud based solution to support our growth strategy. With IRIS being the power engine behind our cloud platform, we will be able to offer fast and smooth migration to banks along with perfect blend of highly innovative features that banks require.
Valery de Samucewicz, CEO, Syrse Group

"Syrse is our long term partner and our alliance with them has helped us penetrate in the West and Central African countries. With this project, we have further extend our reach in the African region which we see as the next emerging market with countless opportunities for the industry. Syrse and TPS will work closely together to expand our footprint in Africa by offering flexible and innovative solutions to our customers.
Shahzad Shahid, CEO, TPS
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