Tsys, one of the world's largest companies for outsourced payment services, announced today that it has signed a multi-year contract with Banco Carrefour S.A., to process their hybrid and private label card business in Brazil.
The first phase of the agreement is the launch of a new MasterCard hybrid card in June 2009. The hybrid card will act as a private label card when used within the Carrefour store environment, but will act as a general purpose credit card when used outside of Carrefour stores.
"Carrefour has been in Brazil for more than 30 years and is the country's leading hypermarket chain and the No. 1 mass retailer in the food market in terms of sales said Gaylon Jowers Jr., president of TSYS International. "Carrefour is a key in-market partner with its strong brand awareness, its multi-format policy and the part it plays in the life of local communities. This is a true milestone for TSYS. We are committed to the Brazilian market as it is forecast to grow and become the fourth largest by cards issued and the second largest by card transactions by 2011," Jowers continued. "We believe TSYS' innovative technologies and focus on client service provide a market differentiating alternative to the Brazilian cards market."
Carrefour chose TS PrimeSM, TSYS' outsourced servicing model on its multi-client payments processing platform. TSYS will establish a local client support infrastructure and is working with IBM to create a data center facility in Brazil.
"When considering our outsourcing options, we searched for a partner who could provide excellent service and value at a competitive price so Carrefour could maximize its retail market position in Brazil," said Caique Mello, general director of Banco Carrefour S.A.