TSYS Extends Processing Services Agreement with BB&T Financial, FSB
TSYS (NYSE: TSS) announced today that it has extended its long-term agreement with BB&T Financial, FSB, a subsidiary of BB&T Corporation, to serve as their full-service payment solutions provider. Under the terms of the agreement, BB&T will utilize TSYS' authorization/capture and clearing/settlement processing platforms, dispute resolution services, payment acceptance applications, and other technology and support services. BB&T has been a TSYS client since 1997.
"BB&T is a true market innovator whose focus is on treating their clients as partners and providing excellence and quality in all of their products and services. We value the confidence BB&T continues to place in us as one of their strategic partners,” said Mark Pyke, president of TSYS' Merchant Services segment. "TSYS' superior world-class processing services facilitate BB&T's offering innovative card products designed around their customers' needs. We are delighted to continue our partnership with BB&T."
Financial terms of the long-term agreement were not disclosed.
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