Total Systems Service has landed another user for its Prime 4 product, as Banco del Bajío of Guanajuato signed a licensing agreement to use the card and payments management system in Mexico.
Banco del Bajío, which operates 286 branches and according to TSYS it is considered one of the country's top five agricultural and industrial lenders in Mexico, will use Prime 4 to support and manage its credit and private label card portfolios, as well as other loyalty and installment programs. The agreement is TSYS' first such agreement in Mexico, the Columbus, Ga.-based international payments provider said in a press release. TSYS in August signed a similar agreement in the Philippines.
Prime 4 is currently available in 70 countries. The licensable single platform supports card issuing, acquiring, and a number of other services, including portfolio management and fraud, default and behavioral risk analytics. Under the agreement TSYS will also provide licensed solutions for integrated customer alerts, payment authorization and switching.
The dynamic growth in cards and payments make Mexico an exciting market for TSYS, said Jaffar Agha-Jaffar, managing director of PRIME Licensing for TSYS International, in a press release. "TSYS is well positioned to provide reliable solutions to address the needs of the Mexican people, including the unbanked and underserved population."
Currently TSYS offers in-house, outsourced and hybrid payment solutions in more than 80 countries, as well as support through an approximately 10,000 member team.
We are excited to extend our TSYS relationship with PRIME4," said Alexia de la Cerda, head of credit cards department, Banco del Bajío. We look forward to further expanding our presence in the Mexican market with the continued support of TSYS," which has been providing agile payments solutions to the bank for more than 13 years.