23 February 2018
visit www.ebaday.com

CTL upgrades Prime payments software

29 April 2004  |  984 views  |  0

Leading global payment solutions provider, Card Tech Limited (CTL), today announced the release of the third major version of its PRIME card and merchant management solution. The release includes a new database platform, new integration features and performance enhancements for stable, high volume issuing and acquiring. Two banks have already licensed the solution.

PRIME has a long history. Released in 1995, it took the mantle of flagship CTL card and merchant management solution from Cardman, which was installed at 117 banks in 39 countries and is still supported today. The modular PRIME system was one of the first to support chip card issuing and acquiring. It received support across the board from the payment associations: three associations recommended it to their associated financial institutions, while a fourth operates the system itself. Version 2 of PRIME enhanced the system's processing capability to support several million cards. This version also saw improved customer relationship management and Web screens.

PRIME 3 moves the system on another step, offering full integration with its authorisation system, message switch and device controller; full support for EMV chip card programmes; extended consumer lending offerings in instalments and loans products; and enhanced multi-institution, workflow and case management features. There are new modules for personalisation and rule-based chargebacks, and the whole suite of systems runs on the Oracle 9i database platform.

Bashar Chalabi, CTL's Chief Technical Officer, has driven the company's technological strategy since 1989. He said of the new system: "PRIME 3 offers some major improvements in the interaction between the user and the system. Besides the traditional 'pull' interface of Customer Services, PRIME 3 offers a 'push' interface built on top of Oracle Workflow and CTL's new generic Case Management tool. This is a direct consequence of the larger portfolios that PRIME is managing. All the user-level applications are now fully integrated in a browser environment, allowing painless wide-area deployment."

CTL's own processing centres will use this feature with PRIME 3's multi-institution capabilities to manage their clients' systems and provide simple remote access.

CTL releases two versions of each of its systems every year to meet its commitment to compliance with the major payment associations' mandates. In particular it is one of the only systems which integrates all of the new smart card, fraud monitoring and e-commerce compliances. The company's Managing Director, Jaffar Agha-Jaffar said that PRIME 3 would offer the same guarantee on compliance: "We develop systems with all of our clients in mind: that means we are always compliant, we consider every enhancement in the light of a broad range of business requirements, and we develop new modules that can help our partners gain competitive advantage. PRIME 3 offers all the reliability that comes as standard with PRIME, plus a host of exciting new features."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Register for the webinarVisit www.vasco.comvisit www.swift.com/your-needs/instant-payments

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
10550 views comments | 14 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
9813 views 3 | 8 tweets | 1 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8875 views comments | 13 tweets | 13 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
7598 views comments | 15 tweets | 26 linkedin

Featured job

Basic c. EUR 90K OTE c. EUR 180K plus full bene...
Paris (preferred) or London

Find your next job