London, UK (PRWEB) December 6, 2006
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 installment plans, using PRIME Installments, 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 TSYS® (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.
TSYS Card Tech contact:
General Manager Business Expansion
Tel: + 44 20 7761 7800
Marketing & Communications
Tel: + 44 20 7761 7800
Universal Bank Public Ltd contact:
Head Bank Card Centre
Universal Bank Public Ltd
Tel: +357 22 877 250