US-based credit card processor TSYS has renewed its payments agreement with Advanzia Bank, a credit card issuer in Luxembourg.
As per terms of the renewed agreement, TSYS will continue to process the bank’s consumer credit card portfolio.
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Furthermore, TSYS will provide additional services including fraud and risk management, verification and contactless card support.
Advanzia manages a portfolio of MasterCard credit cards across the Luxembourg, German, French and Austrian markets, transacting all of its business online. Advanzia has been a TSYS client since 2006.
Advanzia Bank CEO Marc Hentgen said: “TSYS’ options-driven platform continues to give us the flexibility we need to grow and operate in a number of markets across Europe. We’re confident that its global experience will contribute to rapid growth within our card portfolios.”
TSYS International group executive Rob Hudson said: “Our TS2 platform continues to facilitate Advanzia’s expansion by keeping them on top of the latest developments across their industry.
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By GlobalData“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 have not been revealed.
