TSYS (NYSE: TSS) has signed a long-term agreement with TD Bank Financial Group to provide a range of processing and support services for its consumer and commercial credit card accounts.
TD ranks among Canada's leading card-issuing financial institutions. The bank plans to consolidate its card program from multiple processing systems to the TS2 payments engine in the near future.
"We are pleased to welcome TD to the TSYS family," says M. Troy Woods, president and chief operating officer of TSYS. "TD has chosen TSYS because we offer technology that's well-suited for growth strategies."
"We look forward to working with TSYS to enable our growth strategies and move our business forward," says Paul Vessey, senior vice president of TD Canada Trust.
TSYS will support three of Canada's top five bankcard issuers after the conversion of the TD portfolio, supporting more Canada-based accounts than any other third-party processor. This agreement is subject to regulatory approval in Canada, which will be obtained in due course.