Capital One extends Tsys processing deal

Source: Tsys

TSYS (NYSE: TSS), a leading global payments solutions provider, today announced it has extended its long-term agreement with Capital One Financial Corporation (NYSE: COF) to continue providing processing services for Capital One’s North American portfolio of consumer and commercial credit card accounts for multiple years.

According to the Nilson Report, Capital One was a top 5 issuer of U.S. General Purpose Credit Cards in 2016, ranking second with 89.4 million total credit cards. Additionally, Capital One ranked fifth in total purchase volume with more than $249 billion.*
"

The strong sense of partnership we have developed with Capital One has allowed for a tremendous amount of growth and innovation over the years,” said Allen Pettis, Executive Vice President and President, North America Issuer Solutions, TSYS. "This agreement is a testament to the hard work, collaboration and open communication it takes to make a long-standing client relationship successful.”

*Nilson Report, February 2017, Issue #1104

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