Tsys announced today that it has signed a multi-year agreement with Simmons First National Bank to convert its consumer credit card portfolio to Tsys in 2011.
TSYS will provide core account and transaction processing services, card and statement production, fraud detection, on-line customer service technology and risk management support.
Earlier this year, Simmons First also signed a merchant processing services agreement with TSYS, and has extended their existing agreement with TSYS for comprehensive cardholder loyalty and rewards program management.
"TSYS has a great reputation in the payments industry for providing great technology and outstanding service, and we were looking for a partner for the long term," said David Bush, senior vice president, credit card division of Simmons First. "We're excited about our new relationship and the benefits we see in doing business with TSYS."
A "super-prime" credit card issuer, Simmons First National Bank is a nationwide issuer and offers some of the most sought after credit card products available to consumers today.
"TSYS is proud to partner with a bank like Simmons First with an outstanding history and reputation," said M. Troy Woods, president and chief operating officer of TSYS. "We are looking forward to a true partnership where Simmons First can leverage our products and services to help increase the profitability of their credit card portfolio."
Financial terms of the agreement were not disclosed.