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Advanzia Bank renews Tsys card processing deal

26 April 2011  |  3869 views  |  0 Source: Tsys

Tsys today announced that Advanzia Bank S.A., the largest issuer of credit cards in Luxembourg, has renewed its agreement with Tsys to process its consumer credit card portfolio.

As part of the new agreement, Advanzia will convert its portfolio from TSYS' Prime platform to its TS2® processing platform.

Advanzia issues more than 1.5 million MasterCard credit cards to consumers in both Luxembourg and Germany, transacting all of its business online with no physical bank branches. Advanzia was established in 2005 and has been a client of Card Tech Limited, now TSYS Card Tech, since that time.

"This conversion is the largest and probably most critical project for Advanzia so far," said Marc Hentgen, Chief Executive Officer of Advanzia Bank S.A. "TSYS has a proven track record, which gives us confidence that they will be able to migrate our portfolio without any impact to our cardholders."

"As one of the leading European processors, TSYS will provide Advanzia with the flexibility and support it needs to further grow the business," said Bob Evans, Managing Director of Europe, TSYS. "Our TS2 platform will enable them to take advantage of the latest developments that are required in the markets in which they operate."

Terms of the multi-year agreement were not disclosed.

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