TSYS signs processing services deal with Bank of America

Utilising TSYS’ payment engine

TSYS has finalised a master services agreement, with a minimum six year term, with Bank of America, to provide processing services for its consumer credit card portfolios in the US (view press release). In addition, TSYS will continue to process Bank of America’s commercial credit and small business card portfolios in the US and internationally via its payment engine, TS2. Through the deal, Bank of America will utilise TS2 and TSYS’ processing solutions to include risk and financial management and business intelligence which will be delivered by a support team.

TSYS aims to complete the conversion of Bank of America’s consumer card portfolio from its in-house processing system in mid-2014.

The agreement also gives Bank of America the option to use the TS2 software pursuant to a license under a long-term payment structure for purposes of processing its consumer card portfolio.

Related reading

Leave a comment