TSYS, a US-based credit card processor, has inked a licensing agreement with International Bank of Qatar (ibq) whereby the bank will leverage TSYS’ PRIME payment solutions platform.
The agreement will enable the Qatar-based bank to manage all of its Visa and MasterCard credit and debit card issuing and ATM acquiring business.
Additionally, ibq will benefit from PRIME’s integrated capability for authorisation and switching, fraud monitoring and risk management, disputes and chargeback handling, and ATM management.
Furthermore, ibq will use PRIME’s unique integration layer to enable better interoperability with the bank’s existing systems, allowing for operational and business improvements.
It will also empower its certified developers to develop against the integration layer whilst protecting their investment, and the security and performance of the core PRIME platform.
ibq head of IT Georges Hobeika said: “TSYS has an established footprint in Qatar and is the leading partner of choice for licensed payment processing solutions.
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“PRIME’s future proof technology and architectural design allows for exceptional integration opportunities with third-party systems and full user empowerment and control to allow ibq to embrace innovation, without compromising security.”