TSYS Extends Payments Agreement with Swisscard
TSYS (NYSE: TSS) today announced it has extended its payments agreement with Swisscard AECS GmbH to continue processing the company’s consumer credit and commercial card portfolios on the TS2® platform, as well as to provide other payment services.
Swisscard AECS GmbH is a joint venture between Credit Suisse AG and American Express. Swisscard AECS GmbH is the only company in Switzerland to offer the world’s leading credit card brands — American Express, MasterCard and Visa — from a single source. Customers managed by Swisscard AECS GmbH have the largest choice of credit card products on the Swiss market.
“Swisscard is a leader in Switzerland, and an important client for TSYS as we continue to grow across Europe,” said Rob Hudson, group executive of TSYS International. “We look forward to delivering innovative new products and services to help them continue providing excellent service for their cardholders.”
“The stability and availability that TSYS’ systems have provided us throughout our relationship have been important for our business performance,” said Boris Kraus, head of IT Service Management and Control of Swisscard AECS GmbH. “They understand where we are today and where we want to go, and we look forward to continue working with TSYS to provide our cardholders excellent card processing services.”
No terms of the long-term agreement were announced.
About Swisscard AECS GmbH
Swisscard AECS GmbH was established as a joint venture between Credit Suisse AG and American Express in 1998. The company handles product development, sales and marketing, customer service and card processing in Switzerland. As a merchant acquirer, Swisscard AECS GmbH is also responsible for expanding and handling the American Express network of points of acceptance in Switzerland.
Swisscard AECS GmbH combines the strengths of its two parent companies in the credit card business, with American Express being the global leader as far as card management is concerned and Credit Suisse AG owning strong national sales channels. As a market leader in Switzerland, Swisscard manages over 30 card products, tailored to the needs of private individuals and corporate clients, and has leading positions in frequent flyer and business traveler cards, corporate client business as well as co-branding card business (Miles & More)
For additional information about Swisscard please refer to www.swisscard.ch.
TSYS® (NYSE: TSS) unlocks opportunities in payments for payment providers, businesses and consumers. Our headquarters are in Columbus, Georgia, USA, and we operate in more than 80 countries with local offices across the Americas, EMEA and Asia-Pacific.
We provide seamless, secure and innovative solutions across the payments spectrum — from issuer processing and merchant acquiring to prepaid program management — delivered through partnership and expertise. We succeed because we put people, and their needs, at the heart of every decision. It’s an approach we call ‘People-Centered Payments®’.
Our industry is changing every day — and we’re leading the way toward the payments of tomorrow. We routinely post all important information on our website. For more, visit us at tsys.com.
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