Japanese Internet-based bank SBI Sumishin Net Bank (SSNB) has tapped TSYS to process its payment card portfolio.
Financial terms of the deal were not disclosed.
Columbus, Ga.-based TSYS (NYSE: TSS) said it will provide processing and back-office operation services for SSNB to issue cards to consumers, including retail membership cards, a proprietary private-label credit card and association-branded credit cards.
“The dependability of TSYS’ processing platform will enable us to concentrate on new cardholder acquisition and new program introduction, and we look forward to calling on TSYS for its extensive knowledge and expertise in day-to-day operational matters including call center operations,” said Tohru Nitadori, general manager of SBI Sumishin Net Bank’s card business division, in a statement.
SSNB has more than 750,000 accounts with a total $12.8 billion balance outstanding.
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Tags: Bank