Tsys announced today that it has signed an agreement with First Citizens Bank to exclusively manage its commercial and consumer credit card processing needs.
The multi-year agreement also includes fraud detection services, as well as card and statement production.
"TSYS is known throughout the industry for its innovative payments solutions, and First Citizens was looking for a processing partner who continues to invest strategically in its technology and its people," said William W. Shaw, group vice president of the credit card division at First Citizens. "As a long-term client of TSYS Acquiring, we have experienced first hand TSYS' commitment to customer service, and we look forward to extending that same great relationship to the card side of our business."
"First Citizens is a good cultural fit for TSYS, and we are excited to expand our relationship from acquirer processing to include issuing processing as well," said M. Troy Woods, president and chief operating officer of TSYS. "We feel that First Citizens can leverage our technology to expand the size and profitability of their credit card portfolios."
First Citizens Bank has been a client of TSYS Acquiring for more than 10 years.
Terms of the multi-year agreement were not disclosed.