TSYS (TSS) Enters Six-Year Credit Card Processing MSA w/ BofA (BAC)
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TSYS (NYSE: TSS) has finalized a master services agreement, with a minimum six year term, with Bank of America (NYSE: BAC) to provide processing services for its consumer credit card portfolios in the U.S. In addition, TSYS will continue to process Bank of America’s commercial credit card portfolios in the U.S. and Internationally.
Bank of America will utilize TSYS’ core payments engine — TS2® — as well as TSYS’ customized processing solutions to include risk and financial management and business intelligence delivered through a dedicated support team. TSYS currently processes Bank of America’s commercial and small business card portfolio on its TS2 platform, and that relationship will continue under the new agreement.
Bank of America will utilize TSYS’ core payments engine — TS2® — as well as TSYS’ customized processing solutions to include risk and financial management and business intelligence delivered through a dedicated support team. TSYS currently processes Bank of America’s commercial and small business card portfolio on its TS2 platform, and that relationship will continue under the new agreement.
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