COLUMBUS, Ga. & DUBAI, United Arab Emirates--(BUSINESS WIRE)--TSYS (NYSE: TSS) announced today that one of the oldest banks in Qatar, International Bank of Qatar (ibq), has signed an agreement to license TSYS’ future-focused PRIMESM payment solutions platform.
ibq has selected PRIME to manage all of its Visa and MasterCard credit and debit card issuing and ATM acquiring business as part of a single-platform solution. ibq will benefit from PRIME’s integrated capability for authorisation and switching, fraud monitoring and risk management, disputes and chargeback handling, and ATM management. ibq will further leverage PRIME’s unique integration layer to enable greater interoperability with the bank’s existing systems, allowing for operational and business improvements, while empowering its certified developers to develop against the integration layer whilst protecting their investment, and the security and performance of the core PRIME platform.
“TSYS has an established footprint in Qatar and is the leading partner of choice for licensed payment processing solutions,” said Georges Hobeika, head of IT at ibq. “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.”
TSYS has approximately 400 clients across more than 80 countries around the globe. Its PRIME licensing footprint extends across the Middle East region, and is now licensed by 6 of the top 10 banks in Qatar.
“We’re delighted to partner with ibq to further support the growth of the bank’s services. TSYS’ PRIME solution fully supports our people-centered payments approach to enabling businesses to grow and offer more payment choice and options to their respective markets,” said Rene Kruse, group executive and chief operating officer, PRIME Business Solutions, TSYS International.
About International Bank of Qatar (ibq)
Founded in 1956, the International Bank of Qatar (ibq) is one of the first financial institutions in the country and played a major role in the economic growth of Qatar.
Headquartered in Doha, Qatar, ibq offers the full range of corporate, private and retail banking solutions.
ibq’s corporate banking has longstanding relationships with strong Qatari companies as well as international ones operating in the country.
ibq’s private banking is marketing its wealth management platform specially designed to enhance the products and service offering to clients.
ibq’s retail banking is known for its innovative approach in designing products, in particular on mortgage solutions and special personal loans throughout the year.
ibq has received various international accolades which are testaments to its position as one of Qatar’s leading banks. The bank has received various awards for its Private Banking, Retail Banking and Corporate Banking services from Euromoney, Arabian Business, International Banker, International Finance Magazine, Global Banking and Finance Review, The Banker Magazine and Banker Middle East.
Additional can be found at: http://www.ibq.com.qa/
TSYS® (NYSE: TSS) unlocks opportunities in payments for payment providers, businesses and consumers. Our headquarters are in Columbus, Georgia, USA, and we operate in more than 80 countries with local offices across the Americas, EMEA and Asia-Pacific.
We provide seamless, secure and innovative solutions across the payments spectrum — from issuer processing and merchant acquiring to prepaid program management — delivered through partnership and expertise. 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 industry is changing every day — and we’re leading the way toward the payments of tomorrow. We routinely post all important information on our website. For more, visit us at tsys.com.