TSYS Signs Processing Agreement with First Citizens

Tue Aug 26, 9:14 AM

COLUMBUS, Ga.--(BUSINESS WIRE)--TSYS announced today that it has signed an agreement with First Citizens Bank to exclusively manage its commercial and consumer credit card processing needs. The multi-year agreement also includes fraud detection services, as well as card and statement production.

“TSYS is known throughout the industry for its innovative payments solutions, and First Citizens was looking for a processing partner who continues to invest strategically in its technology and its people,” said William W. Shaw, group vice president of the credit card division at First Citizens. “As a long-term client of TSYS Acquiring, we have experienced first hand TSYS’ commitment to customer service, and we look forward to extending that same great relationship to the card side of our business.”

“First Citizens is a good cultural fit for TSYS, and we are excited to expand our relationship from acquirer processing to include issuing processing as well,” said M. Troy Woods, president and chief operating officer of TSYS. “We feel that First Citizens can leverage our technology to expand the size and profitability of their credit card portfolios.”

First Citizens Bank has been a client of TSYS Acquiring for more than 10 years.

Terms of the multi-year agreement were not disclosed.

About First Citizens

Founded in 1898, First Citizens Bank operates 340 branches in more than 200 cities and towns in North Carolina, Virginia, West Virginia, Tennessee and Maryland. The bank is a major subsidiary of First Citizens BancShares Inc. (Nasdaq: FCNCA), which has $16.2 billion in assets. First Citizens Bank is committed to providing superior financial services to individual customers and small to mid-sized businesses. For more information about First Citizens Bank and its services, visit firstcitizens.com or call toll-free 1-888-FC DIRECT (1-888-323-4732). Member FDIC.

About TSYS

TSYS (NYSE: TSS) is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit, debt management, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. For more information contact news@tsys.com or log on to www.tsys.com.

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Shawn Roberts, +1.706.644.6081
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