TSYS joins Paynet in EMV roll-out initiative in Kenya
COLUMBUS, Ga. & NAIROBI, Kenya - Monday, August 12th 2013 [ME NewsWire]
(BUSINESS WIRE) TSYS® (NYSE: TSS) announced today that it supports Paynet, one of Kenya’s leading financial services providers to issuers and acquirers, in its ‘Great Migration to EMV Chip Card’ campaign.
Founded in 2003 and headquartered in Nairobi, Kenya, Paynet has been a TSYS client since 2004. It licenses PRIME 4, the latest version of the TSYS licensed card and merchant management solution, to manage its Visa card portfolio and provide a full range of outsourced front- and back-office card processing and fraud management services for financial institutions across Kenya and East Africa.
Paynet initiated ‘The Great Migration to EMV Chip Card’ campaign to fight card fraud by urging banks and other stakeholders in the region to move toward the higher security EMV Chip debit/credit card standard. The PRIME platform supports Paynet’s EMV initiative, increasing the availability of secure payments across the region and enabling Paynet’s partners to issue EMV cards.
"In TSYS we have a partner that we can rely on to help bring safer payment transactions for businesses and consumers in this market, and provide the necessary operational support,” said Bernard Matthewman, chief executive officer of Paynet.
"We are delighted to support Paynet in this commendable initiative,” said Amit Sethi, managing director, Asia, Middle East and Africa, TSYS. "Helping provide secure and convenient methods of payment is at the heart of TSYS’ core values to support people-centered payments, and we congratulate Paynet on advancing the region’s move to EMV technology.”
The PRIME licensing platform has an extensive reach throughout Europe, CIS, the Middle East, Africa and Asia, with a footprint that extends across more than 70 countries for more than 130 clients.
About TSYS
At TSYS, (NYSE: TSS), we believe payments should revolve around people — not the other way around. We call this belief "People-Centered PaymentsSM." By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend, a TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.
TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks, and has been named one of the 2013 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website, for more please visit us at www.tsys.com.
Contacts
TSYS Media Relations
Cyle Mims, +1-706-644-3110
cylemims@tsys.com
TSYS Investor Relations
Shawn Roberts, +1-706-644-6081
shawnroberts@tsys.com
TSYS
Sara Ruffell, +357.22882600
sararuffell@tsys.com
Paynet
Romana Rajput, +254 722322761
rajputr@paynet.co.ke
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