TSYS and Virgin Money partner for credit card processing

TSYS and Virgin Money have partnered for credit card processing as the bank launches its UK credit card portfolio.

Virgin has selected TSYS’s TS2 platform to support its credit card business, which it is launching after purchasing £1bn assets from MBNA.

Michele Greene, director of banking for Virgin Money, said: "Virgin Money is continuing to build its range of banking services for customers and to offer real competition on the high street.

"TSYS was selected as our preferred long-term partner to help us build our credit card operation because of their strong capabilities in the UK and their flexible and secure solution that can grow and adapt with us as we build a successful business for the future."

The new partners say TSYS will provide a flexible and reliable card processing solution for Virgin Money with value-added capabilities being provided through various partners, including TSYS Managed Services EMEA.

Kelley Knutson, executive vice president of TSYS’ International Services segment, said: "We will help to ensure Virgin Money’s efforts to grow their cards business are successful by combining our experience in international markets with the strength of the Virgin brand.

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"TSYS continues to develop and maintain strong relationships with key issuers in the UK and across Europe. It is a privilege to work with high-profile, and capable, companies such as Virgin Money and we look forward to our partnership."

Virgin Money is due to launch its long-awaited current account towards the end of Q2 2014. Currently the bank provides savings, mortgages, credit cards, pensions, as well as investment and protection products.

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