TSYS will provide payment processing for the consumer credit card portfolio of US-based KeyBank, as part of a long-term agreement.
Last year, KeyBank, the 9th largest bank by branches, chose to expand its payments business by self-issuing credit cards. At that time, Key purchased a $725m branded credit card portfolio from Elan Financial Services. Following this, KeyBank has selected the TSYS’ TS2(R) platform to convert the portfolio and issue new cards.
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In addition, the payments agreement with TSYS will include fraud prevention and risk management services to bank clients.
TSYS and KeyBank have previously joined forces on the TPS platform, which currently provides a broad group of services, including account processing, portfolio management and optimization, fraud prevention, risk management, and full customer support.
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