Commercial Bank of Qatar (CBQ), one of the leading banks in Qatar, has announced the issuance of its first EMV chip card on TSYS Card Tech's card-management solution, PRIME. This follows the bank's successful certification with MasterCard and Visa for M/Chip and Visa Smart Debit Credit (VSDC) card issuing.
The launch of the CBQ MasterCard Payroll chip card is the first in an extensive suite of Visa and MasterCard EMV cards to be issued. A multitude of EMV chip card products — including credit, debit, charge and prepaid cards — are to be released in a phased rollout throughout the year.
“We continue to invest heavily in technology, and the in-house issuance of EMV chip cards is a reflection of our bank's strategy to continue to provide our customers with value-added products and services. By deploying EMV-compliant technology and leveraging on the increased security measures associated with EMV, we are in a better position to protect our card holders against card fraud and also ensure that we maintain our strong competitive edge in customer service," said Manu Joseph, assistant general manager and head of cards for CBQ. "TSYS Card Tech's PRIME solution continues to provide our bank with extensive functionality, in addition to flexibility and reliability.”
“TSYS Card Tech has a long-standing relationship with CBQ dating back to 1992,” said Edith Kessler-Charalambous, general manager of business expansion for TSYS Card Tech. “Our successful track record, including this latest achievement, largely is due to both the strength of our systems and the great co-operation and team effort between the Bank and TSYS Card Tech."
TSYS Card Tech is a market leader in Qatar and the Middle East. In Qatar alone, TSYS Card Tech clients include the top four banks, which have combined assets of 85% of the market share.
About TSYS Card Tech
TSYS Card Tech is an international provider of server-based solutions that meet the payment needs of financial institutions of all sizes throughout the world. For banks competing in global markets, we offer the perfect combination of market-leading functionality, flexibility and capacity.
TSYS Card Tech’s core products are developed in house and address all aspects of the card-management business, including card issuance, merchant acquiring, authorisation, message switching, key and PIN management, e-commerce, dispute and fraud management.
TSYS Card Tech, formerly known as Card Tech Limited, is a wholly owned TSYS® (NYSE: TSS) subsidiary. Together with TSYS, we serve more than 300 clients in 75 countries and support 13 offices around the globe.
About TSYS
TSYS (www.tsys.com) is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit and prepaid services for financial institutions and retail companies in North America, Europe and the Asia-Pacific regions. Based in Columbus, Ga., TSYS (NYSE: TSS) is closely held by Synovus Financial Corp. (NYSE: SNV), one of FORTUNE magazine’s “Most Admired Companies” and a member of its “100 Best Companies to Work For” for 10 straight years.
