Based in Louisville, Ky., PAI is a leading provider of payment processing solutions designed to maximize efficiencies and provide turnkey solutions that result in customer growth and success.

"PAI is a valued customer, and we are excited to be able to extend our agreement," said Mark Pyke, president of TSYS' Merchant Services segment. "It has been a long and beneficial relationship for both companies, and we look forward to continuing the success we've had together."

"TSYS has been a strong partner for PAI, and we're grateful to have a relationship with such an outstanding company," said John J. Leehy, III, president and chief executive officer, PAI. "We appreciate TSYS' commitment to quality and have come to rely on their operational excellence."

Terms of the agreement were not disclosed.