Global payment services company TSYS has signed a licensing agreement with Norwegian financial institution SpareBank 1 for PRIME 4, a version of cards and merchant management services.

Under the agreement, SpareBank 1 is set to deploy the service to manage the issuance of MasterCard and Visa retail credit, charge, prepaid and contactless cards in Norway.

PRIME 4 is a platform that provides issuing and acquiring services. PRIME 4 provides integrated functionality for card issuing and merchant acquiring, fraud detection and risk management, ATM management and dispute as well as chargeback handling.

PRIME is currently used in Europe, the Middle East, Africa and Asia.

In recent news, TSYS has entered a joint venture agreement with Central Payment, a US-based provider of transaction processing services and social marketing software.