TSYS Signs Payments Agreement with KeyBank
COLUMBUS, Ga. -- May 30, 2013
TSYS (NYSE: TSS) announced today that it has signed a long-term payments
agreement with KeyBank (NYSE: KEY) to provide payment processing for the
bank’s consumer credit card portfolio.
KeyBank made the strategic decision to bolster its payments business last year
and begin self-issuing credit cards. At that time, Key purchased a $725
million Key-branded credit card portfolio from Elan Financial Services.
KeyBank has selected TSYS’ TS2^® platform to convert the portfolio and issue
new cards going forward. In addition, KeyBank has contracted with TSYS to
provide fraud prevention and risk management services to bank clients. TSYS’
past success with KeyBank involved a smaller portfolio acquisition conversion
to the TSYS Program Solutions (TPS) platform in 2012. The TPS platform
currently provides a broad group of services for KeyBank, including account
processing, portfolio management and optimization, fraud prevention, risk
management, and full customer support.
“As we move aggressively toward expanding our presence in the consumer credit
card market, we need a partner who can provide us with strong card industry
insight, flexibility and speed-to-market,” said Beth Mooney, KeyCorp chairman
and chief executive officer. “TSYS has already demonstrated their ability to
meet our needs for a turnkey solution, and we are confident they are a good
fit for KeyBank.”
“We welcome this opportunity to expand our partnership with one of the most
respected regional banks in the Midwest,” said Bill Pruett, president of North
America services, TSYS. “This agreement strengthens our commitment to regional
banks like KeyBank, as they look to grow and improve the overall experience
for their customer base by providing more options to satisfy their growing
Financial terms of the agreement were not disclosed.
KeyCorp was organized more than 160 years ago and is headquartered in
Cleveland, Ohio. One of the nation's largest bank-based financial services
companies, Key had assets of approximately $89.2 billion at March 31, 2013.
Key provides deposit, lending, cash management and investment services to
individuals and small and mid-sized businesses in 14 states under the name
KeyBank National Association. Key also provides a broad range of sophisticated
corporate and investment banking products, such as merger and acquisition
advice, public and private debt and equity, syndications and derivatives to
middle market companies in selected industries throughout the United States
under the KeyBanc Capital Markets trade name. For more information, visit
https://www.key.com/. KeyBank is Member FDIC.
At TSYS, (NYSE: TSS), we believe payments should revolve around people — not
the other way around. We call this belief "People-Centered Payments^SM." By
putting people at the center of every decision we make, with unmatched
customer service and industry insight, TSYS is able to support financial
institutions, businesses and governments in more than 80 countries. Offering
merchant payment-acceptance solutions as well as services in credit, debit,
prepaid, mobile, chip, healthcare and more, we make it possible for those in
the global marketplace to conduct safe and secure electronic transactions with
trust and convenience.
TSYS’ headquarters are located in Columbus, Georgia, with local offices spread
across the Americas, EMEA and Asia-Pacific. TSYS provides services to more
than half of the top 20 international banks, and has been named one of the
2013 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely
posts all important information on its website, for more please visit us at
TSYS Media Relations
TSYS Investor Relations
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