TSYS Signs PRIME(SM) Agreement with Mashreq Bank in Dubai
September 11 2017 - 1:00AM
Business Wire
Award-winning bank to license TSYS’ PRIME for multi-country
issuing and acquiring
TSYS (NYSE: TSS) announced today that it has signed a software
licensing and services agreement with UAE leading financial
institution, Mashreq Bank. TSYS will provide Mashreq with its core
PRIME Issuer and Acquirer payments platform — and surrounding
modules and services — to enhance the bank’s customer-centric
experiences for its cardholders and merchants.
Mashreq is an award winning bank recognised for its retail and
digital banking experiences. The bank also has broad product
portfolios that include multi-brand credit, debit, and prepaid
cards, as well as Sharia-compliant cards.
“We are one of UAE’s leading financial institutions with a
growing retail presence in Egypt, Qatar, Kuwait and Bahrain. Our
key focus is providing customers with access to a wide range of
innovative products and services, and this is what led us to TSYS,”
said Sandeep Chouhan, Head of Operations and Technology at Mashreq.
“As one of the largest payment solution providers in the world,
TSYS has the scale and power of PRIME, along with the visionary
TSYS InterActivSM technology framework to help us keep our
customers and merchants at the forefront of innovation.”
Mashreq will leverage TSYS support for omni-channel and digital
enablement, including Web APIs and Customer Alerts. The agreement
also includes innovative loyalty solutions at the issuer and
merchant level. These are supported by real-time fraud and risk
solutions covering mobile and e-commerce, along with a range of
acquiring propositions for merchant portal, acquirer dashboard,
DCC, interactive interchange pricing and more.
“We look forward to partnering with Mashreq as they continue to
grow and develop their consumer payment offerings and innovative
merchant experiences in the region. Our presence in the Middle East
dates back to 1989, and we are very proud to support our clients as
they drive the market forward in this progressive region of the
payments world,” said Rene Kruse, group executive and managing
director of PRIME Business Solutions, TSYS.
About Mashreq
Established in 1967, Mashreq is the oldest Bank in the UAE with
award winning financial solutions and services. Throughout
its 50 years’ history, Mashreq has
differentiated itself through innovative financial
solutions, making it possible
for its customers to achieve their
aspirations. Today, Mashreq has a significant
presence in 11 countries outside the UAE with 21
overseas branches and offices across Europe, USA, Asia and
Africa.
Mashreq recently launched its new Vision and Mission, outlining
its commitment towards its clients, colleagues and
the community. In line with its new Vision to be the region’s
most progressive bank, Mashreq leverages its
leadership position in the banking industry to enable
innovative possibilities and solutions for its customers
across Corporate, Retail, International, Treasury and Islamic
Banking. Mashreq is proud to be the first financial
institution in the UAE to be awarded the Gallup
Great Workplace Award for three consecutive years from
2014-2016. Mashreq also continues to invest
in recruiting, training and developing future generations
of UAE National bankers.
About TSYS
TSYS® (NYSE: TSS) is a leading global payments provider,
offering seamless, secure and innovative solutions across the
payments spectrum — from issuer processing and merchant acquiring
to prepaid program management . We succeed because we put people,
and their needs, at the heart of every decision. It’s an approach
we call ‘People-Centered Payments®’.
Our headquarters are located in Columbus, Ga., U.S.A., with
approximately 11,500 team members and local offices spread across
13 countries. TSYS generated revenue of $4.2 billion in 2016, while
processing more than 25.5 billion transactions. We are a member of
The Civic 50 and were named one of the 2017 World’s Most Ethical
Companies by Ethisphere magazine. TSYS is a member of the S&P
500 and routinely posts all important information on its website.
For more, visit tsys.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170910005001/en/
Total System Services, Inc.Media Relations:Cyle Mims, +1
706-644-3110cylemims@tsys.comorInvestor Relations:Shawn Roberts, +1
706-644-6081shawnroberts@tsys.comorMashreq Public Relations and CSR
ManagerRana AlBorno, + 971 4 6083703
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