TSYS Signs NCB Jamaica to PRIME 4 Agreement
Columbus, Ga–TSYS (NYSE: TSS) today announced that National Commercial Bank Jamaica Limited (NCB), Jamaica’s largest financial services provider, has upgraded to the latest version of TSYS’ card issuing and merchant management solution — PRIME 4.
A TSYS client since 1998, NCB Jamaica deploys the PRIME solution to manage its growing card portfolios. Drawing on PRIME’s flexibility, ease of use, and backed by its renowned speed-to-market capabilities, NCB Jamaica has introduced a number of successful card product offerings ─ including, credit, debit, prepaid and private label card programmes — on a single PRIME implementation.
With PRIME 4, NCB Jamaica will leverage enhanced integrated workflow-driven dispute and chargeback handling, real-time fraud monitoring, collections, instalment and advanced behavioural analytics capabilities. In addition, the bank plans to extend its market offering to include issuing and acquiring support for EMV and contactless cards, MasterCard MCHIP and Paypass, Visa VSDC and PayWave, along with extended acquiring support for AMEX and UnionPay International payment schemes.
“National Commercial Bank Jamaica Limited chose PRIME 4 for the advances in efficiency and flexibility, as well as the potential value-added services that it enables us to offer to our customers,” said Septimus Blake, senior general manager of Payment Services at NCB Jamaica.
PRIME 4 provides support for multi-payment schemes, multi-product issuing and multi-channel acquiring as a single-platform payments processing solution. Drawing from 25 years of licensing best practices, and built with a unique integration layer to enable payment innovation, PRIME 4 provides scalable processing and rich licensable functionality with hosted value-added services to bring security and a broad set of payment choices to its clients and their customers.
“This announcement reaffirms NCB Jamaica’s commitment to TSYS and our enhanced PRIME 4 platform,” said Jaffar Agha-Jaffar, managing director of PRIME Licensing, TSYS International. “TSYS and PRIME 4 are a winning solution for partner financial institutions and demonstrate our contribution to the enhancement of the financial services offering in this region.”
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. It has a proven track record in the market dating back to 1995.
About National Commercial Bank Jamaica Limited
As Jamaica’s oldest and largest financial group, the National Commercial Bank Jamaica Limited (NCB) prides itself on being innovators and pacesetters in the local financial services industry and pioneering significant ‘firsts’ that have transformed the banking sector over the course of the past several decades. It is within this context that NCB has set its sights firmly on advancing its position as industry leaders to become the premier financial institution in the entire English and Spanish-speaking Caribbean.
NCB trades on both the Jamaica and Trinidad & Tobago stock exchanges, and has grown to become Jamaica’s largest financial services provider, with 42.9% market share by assets of the commercial banking sector (as at December 2014). With a diversified business portfolio, the NCB Group includes subsidiaries that provide a platform of services and products intended to afford corporate and personal customers with a breadth of options to optimize their financial wellness. These include retail and commercial banking, cards and payments, wealth management and advisory, life and general insurance, investment banking and treasury, and correspondent banking products and services. These are supported by internet banking, telephone banking and a toll-free 24/7 Customer Care Centre ─ along with the newly introduced Bank on the Go self-service areas.
In addition to numerous local awards, NCB received several international recognitions in 2014. Among them was, Latin Finance – Bank of the Year Jamaica, Capital Finance International – Best SME Bank Caribbean and Global Banking and Finance Review – Best Banking Group Jamaica.
At TSYS® (NYSE: TSS), we believe payments should revolve around people, not the other way around. We call this belief People-Centered Payments®. 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, Ga., U.S.A., with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS is a member of The Civic 50 and was named one of the 2015 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.