TSYS Card Tech is to supply Universal Bank Public Ltd of Cyprus with
upgrades to its PRIME card management system and ONLINE authorization and
switching system. The additional functionalities will enable the bank to
support EMV, automated collections, instalment schemes and SEPA-compliance.
A TSYS Card Tech client since 1998, Universal Bank offers a full range of
personal and business banking services and operates 18 branches across the
island. With its adoption of PRIME’s Collector module the bank will benefit
from automated collections with reporting for audit requirements.
Universal Bank also intends to offer acquiring instalment plans, using
PRIME Instalments, to provide online approval at merchant POS terminals.
Andreas Antoniou, Head Bank Card Centre, Universal Bank Public Ltd said,
‘TSYS Card Tech’s offering represents far more than a systems upgrade in
that it enables us to increase our issuing functionality, create new
products, enhance our client-oriented business and ensures a future-proof
platform for continued market growth’.
Edith Kessler-Charalambous, General Manager Business Expansion at TSYS Card
Tech said, ‘Universal Bank’s decision to further embrace TSYS Card Tech
solutions is a perfect example of how we proactively adapt to client needs.
We can draw on our extensive experience in the cards industry to offer
consultancy to enhance our clients’ business and back it up with
cost-efficient, flexible solutions’.
About TSYS Card Tech
TSYS Card Tech is an international provider of server-based solutions that
meet the payments 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.
Our 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 know as Card Tech Limited, is a wholly owned TSYSÃÂÃÂ®
(NYSE: TSS) subsidiary. Together with TSYS, we serve more than 300 clients
in more than 76 countries and support 12 offices around the globe.
About Universal Bank Public Ltd
Universal Bank is a listed Company on the Cyprus Stock Exchange;
Customers of the Bank have access to a full range of personal and business
banking products and services in Cyprus and abroad in all the major
international currencies either directly through the Bank or through its
network of foreign correspondents. Universal Bank operates 19 branches
throughout the island.