In the company's first processing relationship with a card-issuer in Japan, TSYS will support a new co-branded Visa offered by Toyota Finance and Nikko Cordial Securities.
Starting in October, Toyota Finance Corporation, a member of Visa International, will issue the Visa Platinum cards for customers of Nikko Cordial Securities, one of Japan's largest securities companies. The card will be linked to the customer's brokerage account facilitating the cash access via domestic ATMs and purchase transactions in Japan and overseas. Given the fact that many Nikko Cordial customers hold accounts in more than two currencies, cardholders can settle with yen-based account for domestic transactions and with U.S.-dollar-based account for overseas transactions.
"TSYS is the only third-party payments processor in Japan that currently offers multi-currency and multi-function support. That was the critical factor for us to select TSYS as processor for the first product of this kind in Japan. We were pleased with the manner in which TSYS responded to our challenge," says Yoshio Inagaki, president of Toyota Finance Co., Ltd.
"We are excited to offer the power of TS2 to the Japanese card industry," says Hitoshi Kondo, managing director of TSYS Japan. "TSYS is committed to providing superior systems and services to the market, and we hope our support to this innovative product sets a new benchmark for payment technologies in Japan."