Partnerships / Acquisitions

TSYS Renews Long-Term Payments Processing Contract With BBVA Compass

TSYS, the payments processing company, announced Friday (Jan. 20) it has inked a long-term renewal of its payment services agreement with BBVA Compass in which it will continue to process the bank’s consumer, commercial and small business credit card portfolios.

In a press release, TSYS said it will also continue to provide other services to BBVA Compass, including card and statement production, fraud and risk management, web and mobile service support and other services. “We are very pleased to announce that we have agreed to extend our relationship with BBVA Compass, a valued TSYS client for more than 35 years,” said Pam Joseph, president and chief operating officer of TSYS, in a press release. “As we have done for many years, we will work closely with the bank on its needs and continue to support future growth and innovation across all of its credit card portfolios.”

This isn’t the first customer win in recent months. In October, TSYS announced it signed a payments agreement with Optal Financial Limited, one of Europe’s leading virtual card issuers. Under the agreement, TSYS will process authorizations for Optal’s significant virtual payments card business. Terms of the deal were not disclosed.

In a press release, TSYS said, with offices in Australia, the U.K. and Hong Kong, Optal is a worldwide company that provides end-to-end B2B payments services. Its products include virtual account numbers (VANs) that ensure supplier payments are processed quickly and safely, enabling automated reconciliation at the point of sale.

“Optal is an innovative leader in virtual payments, and we are excited to begin a new long-term relationship with them,” said Rob Hudson, group executive of TSYS International, in the press release. “With our experience in the European payments market, as well as globally, TSYS will enable Optal to continue its virtual cards growth agenda and drive value to their end customers.”

“We’re impressed by the robust processing platform, breadth of capability and high-availability service that TSYS provide and are excited about partnering with them to improve service to our clients globally,” Alex Mills, chief operating officer of Optal, added.

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