News

Qatari FI taps TSYS for payment solutions platform

February 28, 2017

International Bank of Qatar has entered a licensing agreement for the TSYS Prime payment solutions platform, according to a press release.

IBQ will use 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 — including integrated capability for authorization and switching; fraud monitoring and risk management; disputes and chargeback handling; and ATM management.

"TSYS has an established footprint in Qatar and is the leading partner of choice for licensed payment processing solutions," IBQ IT head Georges Hobeika said in the release. "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."

The release said that six of the top 10 banks in Qatar are Prime licensees.