Barclaycard signs $17 million payment processing contract with CSC
29 May 2003 | 5441 views | 0
Computer Sciences Corporation has won a five-year, $17-million contract to implement a payment processing platform for Barclaycard, the largest independent card processor in Europe.
Under the agreement, CSC will implement the CAMS II merchant acquiring and card issuing solution which can support multiple products including debit cards, credit cards, smart cards and consumer loans. CSC will also incorporate its CSC e4 middleware into the CAMS II platform to ease integration with legacy databases and applications.
The agreement marks the first time that Barclaycard has moved responsibility for the technology behind its merchant acquiring business to a third party. Barclaycard anticipates the new capability will reduce costs as well as create a more flexible system.
Steve Mitchener, president of CSC’s financial services operations in Europe, the Middle East and Africa says the implementation of CAMS II with CSC e4 will enable Barclaycard to make a "step-change" in its merchant acquiring business.
"We expect that this project will create a number of processing benchmarks and firsts in the financial services sector both in the international and domestic US markets," he says.