Arab Financial Services (AFS), a leading provider of electronic payments and consumer finance outsourcing services in the Middle East, has recently announced the renewal of its VisionPLUS licence agreement with First Data, a global leader in electronic commerce and payment solutions.
B. Chandrasekhar, acting CEO of Arab Financial Services, said, “The renewal of the VisionPLUS software licence with First Data reflects AFS’ desire to bring cutting-edge services to its client base in the region and provide for the longer term requirements of our customers. Through this new agreement, AFS clients will be able to access and benefit from recent enhancements to the software.”
More than 40 banks in the MENA region work with AFS as their payment card and consumer finance technology and processing partner. First Data has supported AFS for more than 15 years with the provision of processing technology to provide world class solutions to its valued client base in the region.
“We chose to extend our relationship with First Data based on our long-standing history and the proven capabilities of the VisionPLUS processing technology,” added Chandrasekhar. “This agreement gives us the flexibility and processing focus to make swift decisions with regards to the needs of our customers.”
Brian Quarrie, vice president of First Data in Middle East & Africa said, “At First Data we’ve spent a significant amount of time and resources to ensure our processing solution provides the integration and scalability that our clients need. We are delighted to deepen our long-standing relationship with AFS and to continue to leverage our processing capabilities to help AFS achieve its business goals.”
VisionPLUS is a powerful global payments software product available from First Data worldwide on a licensed basis. It features a comprehensive suite of market-leading solutions, flexible product options, advanced management capabilities, and service oriented architecture to enable open systems integration to meet the needs of issuing banks and retailers.
AFS has operated in the payment card industry for over two decades and understands the need of its customers to have cost effective and efficient solutions and services. In addition to card processing, its core offering includes value-added services including call centre services, fraud monitoring, data analytics, card embossing and back-office services.