Dubai PR Network, Online Press Release from Dubai and Middle East
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
TSYS and Mashreq Bank Announce the Successful Implementation of PRIMESM for Acquiring Services
 

Award winning financial institution in Dubai successfully deploys TSYS’ payments processing solution 

Dubai, United Arab Emirates, 5 April 2018:  TSYS (NYSE: TSS) and Mashreq Bank announced today that Mashreq has successfully implemented TSYS’ PRIME software licensing solution, to enhance the bank’s customer-centric experiences for its merchants.

TSYS is providing Mashreq with its core PRIMESM acquirer and issuer payments platform — and surrounding modules and services. 

The first phase of the implementation followed industry best practices across planning, development and solution design, resulting in the successful launch of acquiring services within 8 months of contract signing. The second phase of the project — to include PRIME’s issuing solutions — will be deployed later this year. 

“We at Mashreq are delighted to partner with TSYS for our acquiring platform as the system offers more flexibility and scalability to our merchant business.

The joint efforts led to the project being executed seamlessly and at an extraordinary pace.

We are looking forward for more collaboration with TSYS in Phase II to serve our customers better using the PRIME platform,” said Mr. Pankaj Kundra, Head of Payment, Mashreq Bank.

TSYS is providing Mashreq with acquiring solutions, including the core PRIME solution that enables Mashreq to manage its merchant relationships, and enable fast merchant onboarding.

Additional  solutions that will implemented during phase one, include PRIME Fraudguard to protect cardholders against fraud, PRIME Dispute Manager to efficiently manage transaction disputes for fast resolution, and TSYS InterActiv Interchange Pricing to allow Mashreq to better manage its merchant portfolio with respect to interchange and related costs.

In addition to implementing PRIME’s issuing solutions later this year, the final phase of the project will also focus on Mashreq’s multi-channel acquiring with support for payment gateway for e-Commerce, merchant portal with dashboard reporting, dynamic currency conversion and payment acceptance support for all major payment schemes.

Mashreq will also consolidate and manage its card issuance with PRIME across multiple countries, beginning with UAE, and followed by Kuwait, Bahrain, Egypt and Qatar.

“We’ve established a great partnership with Mashreq, which provides the foundation of success.

Together, we implemented the PRIME platform and we’re able to provide a solution designed to support their customer communication and ever-evolving payment needs,” said Rene Kruse, Group Executive and Managing Director of International Markets, TSYS.


Posted by : Dubai PR Network Editorial Team
Viewed 4282 times
PR Category : Banking & Investments
Posted on : Thursday, April 5, 2018  9:57:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Labuan IBFC Launches Gulf Roadshow Showcasing Unique Shariah...
Next Story : New technologies set to disrupt UAE banking sector in 2018, ...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Timeless Ties [8985-Views]
COLAB - Dry Shampoo [7838-Views]
ORANGE & BERGAMOT Awaken the Cult Icon New Additions [7387-Views]
FOREO delivers the ultimate festival survival kit for a glow-on-the-go. [5978-Views]
Samsung launches Exciting Smartphone Trade-In Program with Galaxy S9 or S9+ [5795-Views]
The Perfect Gift Mark [5508-Views]
Summertime Beauty Picks at Glambeaute.com [5478-Views]
New XE 300 Sport Edition Wins Gripping Ice Race [5252-Views]
Get Vibrant and lively hair with Rahua's new Color Full Range [4917-Views]
Dubai Sports Council Pavilion a big hit at Bangkok SportAccord [4862-Views]
Dubai-based Al Kasir Group launches three Crypto assets backed by diamonds [4837-Views]
du to Offer New 9.7-inch iPad With Apple Pencil Support [4807-Views]
Filorga Mesotherapist Derma Roller [4795-Views]
A Royal Ramadan Experience by Master Chef Mama in Pullman Dubai Creek City Centre [4752-Views]
Skyline University College Economics Day 2018: One Step towards Tomorrow [4734-Views]
Penny Scallan Design Launches in the Middle East [4477-Views]
New Blow Out Bar and Make-Up Studio SWISH by Immaclife Opens in Abu Dhabi in April 2018 an... [4465-Views]
Rolling Cones, a new luxury ice cream concept, launches at the Hyatt Regency Dubai Creek H... [4453-Views]
MINI at Auto China Beijing 2018 [4075-Views]
The new BMW M2 Competition [4063-Views]
Mumzworld Announce Recruitment Drive To Empower Women in the Middle East [3977-Views]
Pandora Shine Discover A New Way to Shine [3898-Views]
Abu Dhabi Ship Building Company Launches Two 64-Meter Landing Ships for the Kuwait Naval F... [3886-Views]
Sheikh Sultan bin Ahmed Al Qasimi Leads Sharjah Contingent to Kuwait Arab Media Forum [3782-Views]
Toshiba Releases New, Powerful Surveillance and Video Streaming Internal Consumer Hard Dri... [3770-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories