(This story was corrected and updated on 6/21/10 a 9 a.m. CDT)
Network International LLC has signed an agreement to manage Al Khalij Commercial Bank Ltd.’s credit card-processing services, according to the Qatar-based bank.
Under the agreement, the Dubai-based card-services provider will manage the bank’s entire credit card system, from processing transactions and personalizing cards to providing fraud management, switching and clearing services.
The bank says it is outsourcing its card processing and management services to save costs and to focus its time and resources on such other key areas as marketing, sales and credit.
Network International will assist the bank in securing card-scheme certifications and will process customer card applications, statements and payment reconciliations, and provide card embossing and personalization, PIN generation and card authorization.
Network International is the card-processing subsidiary of the Dubai-based Emirates NBD. In May, the group reportedly was considering selling a stake in Network International to generate cash for its expansion needs (see story).