Degussa Bank renews Tsys payments contract

Source: Tsys

TSYS (NYSE: TSS) announced today that it has extended its commercial payments agreement with Degussa Bank in Germany.

The multi-year agreement covers a broad range of products and services that TSYS will provide Degussa Bank’s corporate and business clients.

Degussa Bank offers a low cost, efficient solution for its commercial clients. TSYS provides processing services for the bank’s Mastercard® and Visa® products, as well as account decisioning and fraud and risk management services.

A TSYS client since 2010, Degussa Bank chose TSYS for its market-leading technology, a proven delivery track record and its partnering approach.

“We are excited to extend our agreement with TSYS,” said Dieter Bourlauf, chief digital officer of Degussa Bank. “Their strong track record of success and stellar reputation in the commercial card industry, combined with the quality service we have experienced since our original conversion onto their platform, gives us confidence that they will continue to help our commercial card program grow and flourish.”

“It is a great feeling when a valued client like Degussa Bank renews their agreement with TSYS,” said Rob Hudson, group executive, TSYS International. “We established years ago that Germany was an important market to us, and with the Degussa Bank renewal and other recent renewals in the German market, TSYS proves how we can provide value in a number of different ways to German issuers.” Terms of the long-term agreement were not released.

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