Logica and Oasis alliance
KSA’s banking community is to benefit from a new alliance between Logica and Oasis Technology as they partner up to offer end-to-end payment solutions <br>
Global IT solutions provider, Logica, has formed a partnership with Oasis Technology, provider of payment solutions, to offer end-to-end payment capabilities for the financial services industry in Saudi Arabia. Under the terms of the partnership, Logica will undertake sales, marketing and distribution functions for Oasis Technology's payment processing products throughout the Kingdom.
“Several factors make this the ideal time for Logica and Oasis Technology to jointly penetrate the payment solutions market in Saudi Arabia,” said Derek Kemp, Logica’s CEO for the Middle East. “The increase of credit card usage, the emergence of e-commerce, the development of online banking, and the introduction of direct debit payments in the Kingdom demonstrate that the country’s financial service providers need proven payment solutions, as well as the expertise necessary to implement and support those solutions,” he said.
Among the Oasis solutions that Logica will offer in Saudi Arabia are the Oasis IST range. This includes solutions for building in-house payment engines, issuing real and virtual credit cards and creating online payment infrastructures.
“Saudi Arabia is a vital new market for Oasis as we expand our Middle East presence,” said Bruno Paoli, general manager, Oasis Technology, EMEA Region. “In order for Oasis to maximise our market reach in the Kingdom, we required a partner with proven experience both in the financial services industry as well as in the country, both of which we found in Logica,” he added.
Oasis and Logica will target the Kingdom’s acquirer and issuer banks, Internet merchants and national payment processors.