TSYS announced on Monday that it would support Paynet, one of Kenya’s leading financial services providers, in its campaign to migrate to EMV chip card payments.
Paynet, which was founded in 2003 and has been a TSYS client since 2004, launched its “Great Migration to EMV Chip Card” campaign to fight card fraud by urging other financial institutions to opt for the higher security EMV chip card standard.
“We are delighted to support Paynet in this commendable initiative,” Amit Sethi, the managing director of Asia, the Middle East and Africa at TSYS, said. “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.”
Paynet licenses PRIME 4, the latest version of TSYS’ licensed card and merchant management solution, to manage its Visa portfolio and provide a number of card processing and fraud management services to financial institutions across Kenya and East Africa.
The PRIME platform has a footprint that extends across more than 70 countries and more than 130 clients.
“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,” Paynet CEO Bernard Matthewman said.