19 February 2018
visit www.nextgenbanking.co.uk/

CIBC outsources Visa accounts to TSYS

06 August 2002  |  3630 views  |  0 CIBC outsources Visa accounts to TSYS

CIBC has signed a ten-year outsourcing agreement with Georgia-based payments outfit Total System Services (TSYS) for its portfolio of five million Visa accounts.

Under the agreement, CIBC's Visa portfolio will be converted to TSYS' TS2 advanced card processing system in early 2003.

Christine Croucher, executive vice president of the card products division for CIBC, says: "TSYS is a world-class provider of innovative payment services, and a company that we believe will continue to lead in this area. We have every confidence that TSYS will manage a successful conversion that will be seamless for our clients."

It is estimated the deal will bring TSYS market share in Canada from 38 per cent to 51.7 per cent of the country's total 23.8 million Visa accounts.

Earlier this year, the bank contracted with TSYS for the processing of its new entourage line of American Express products, including Canada's first nationwide smart card.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

CIBC World Markets upgrades with Syntegra

CIBC World Markets upgrades with Syntegra

17 June 2002  |  5483 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.swift.com/your-needs/instant-paymentsvisit www.ebaday.comvisit www.nextgenbanking.co.uk

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11101 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
8590 views comments | 15 tweets | 13 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8588 views comments | 15 tweets | 43 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8515 views 10 comments | 21 tweets | 26 linkedin

Featured job

to £100K base, double OTE, benefits
London, UK

Find your next job