TSYS joins Paynet in EMV roll-out initiative in Kenya
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.