Under the terms of the deal, Bank of America will use TSYS’ core payments engine TS2 as well as TSYS’s customized processing services to include risk and financial management and business intelligence capabilities. In addition, TSYS will also continue to process Bank of America’s commercial credit card portfolios in the US and internationally.
TSYS has revealed plans to complete the conversion of Bank of America’s consumer card portfolio from its in-house processing system in mid-2014. Other terms of the agreement are not being disclosed.
TSYS provides merchant payment-acceptance solutions as well as services in credit, debit, prepaid, mobile, chip and healthcare.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now