TSYS (NYSE: TSS) today announced that ithas renewed its payments agreement with Advanzia Bank S.A., the largest issuer of credit cards in Luxembourg, to continue processing the bank’s consumer credit card portfolio. TSYS will also provide additional services such as fraud and risk management, verification and contactless card support.
Advanzia has a fast-growing portfolio of MasterCard credit cards across the Luxembourg, German, French and Austrian markets, transacting all of its business online. Advanzia was established in 2005 and has been a TSYS client since 2006.
“TSYS’ options- driven platform continues to give us the flexibility we need to grow and operate in a number of markets across Europe,” said Marc Hentgen, chief executive officer of Advanzia Bank, S.A. “We’re confident that its global experience will contribute to rapid growth within our card portfolios.”
“Our TS2® platform continues to facilitate Advanzia’s expansion by keeping them on top of the latest developments across their industry,” said Rob Hudson, group executive for TSYS International. “We have enjoyed a great relationship for the last decade, and look to continued success with them in the future.”
Terms of the multi-year agreement were not disclosed.