TSYS Signs Payments Agreement with Tangerine Bank
October 13 2015 - 9:00AM
Business Wire
Agreement expands TSYS’ footprint in the
Canadian market
TSYS (NYSE: TSS) today announced that it has signed an agreement
with Tangerine, an innovative Canadian direct bank, to provide
processing and risk management services for the bank’s new consumer
credit card portfolio.
Formerly ING Direct, Tangerine was officially renamed after it
was purchased by Scotiabank in 2014. As of October 6, the bank is
now offering Canadians the chance to be among the first to use the
new Tangerine Money-Back Credit Card, which offers 2% money-back
rewards on all purchases in two categories of their choice and 1%
money-back rewards on all other purchases, with no annual fee.
“We are pleased to be working with TSYS as a trusted partner to
provide our new Money-Back Credit Card to Canadians,” says Peter
Aceto, president and chief executive officer of Tangerine. “Their
experience and expertise will serve us well as we move forward with
our revolutionary new card that allows Canadians to spend and save
at the same time.”
“The Canadian market is important to our North American
strategy,” said Bill Pruett, president of TSYS’ North America
Services segment. “We are committed to a long relationship with
Tangerine providing innovative products and services that give
their accountholders more accessibility and flexibility while
delivering the superior service their customers deserve.”
Financial terms of the long-term agreement were not
disclosed.
About Tangerine
Tangerine is a direct bank that delivers simplified everyday
banking to Canadians. With more than 1.9 million clients and close
to $38 billion in total assets, we are Canada’s leading direct
bank. Tangerine offers banking that is flexible and accessible,
products and services that are innovative, fair fees, and
award-winning client service. From no-fee daily chequing and
high-interest savings accounts, GICs, RSPs, TFSAs, mortgages and
mutual funds, Tangerine has the everyday banking products Canadians
need. With over 1,000 employees in Canada, our presence extends
beyond our website and Mobile Banking app to our 24/7 Contact
Centres and our Café locations. Tangerine was launched as ING
DIRECT Canada in 1997. In 2012 it was acquired by Scotiabank, and
operates independently as a wholly-owned subsidiary.
About TSYS
At TSYS® (NYSE: TSS), we believe payments should revolve around
people, not the other way around. We call this belief
People-Centered Payments®. By putting people at the center of every
decision we make, TSYS supports financial institutions, businesses
and governments in more than 80 countries. Through NetSpend®, A
TSYS Company, we empower consumers with the convenience, security,
and freedom to be self-banked. TSYS offers issuer services and
merchant payment acceptance for credit, debit, prepaid, healthcare
and business solutions.
TSYS’ headquarters are located in Columbus, Ga., U.S.A., with
local offices spread across the Americas, EMEA and Asia-Pacific.
TSYS is a member of The Civic 50 and was named one of the 2015
World's Most Ethical Companies by Ethisphere magazine. TSYS
routinely posts all important information on its website. For more,
please visit us at www.tsys.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20151013005740/en/
TSYS Media RelationsCyle Mims,
+1-706-644-3110cylemims@tsys.comorTSYS Investor RelationsShawn
Roberts, +1-706-644-6081shawnroberts@tsys.com
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