Payments processor TSYS has signed up Bank
Standard, the largest private bank in Azerbaijan to license its
PRIME 4 card and merchant management solution.
The Azerbaijani bank will deploy the solution
in support of its expanding card portfolio of Visa and MasterCard
credit, debit, and prepaid cards.
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The bank said the partnership with TSYS was
based on PRIME 4’s suitability as a cost-effective single platform
solution for both issuing and acquiring.
The deal is also aimed at providing the bank
with better fraud and risk management while increasing operational
efficiency, profitability and speed to market.
Elchin Abullayev, retail products division
head of Bank Standard said:
“We were looking for a best-of-breed, in-house
solution that had the functionality, depth and breadth to support
multiple card types, fast product launches and future innovation
[and] TYSYS offered this,”
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