23 August 2017
Find out more

CIBC outsources Visa accounts to TSYS

06 August 2002  |  3546 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.
KeywordsOUTSOURCING

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  |  5389 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.vasco.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
12905 views comments | 27 tweets | 23 linkedin
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
12659 views comments | 27 tweets | 66 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11564 views comments | 22 tweets | 34 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
10746 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
10674 views comments | 10 tweets | 8 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job