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September 2, 2020updated 05 Apr 2022 8:20am

Global Payments extends card processing agreement with Wells Fargo

US-based payment technology and software solutions provider Global Payments has extended its partnership with Wells Fargo.

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Details of the agreement were not shared.

Global Payments, through its Georgia-based Issuer Solutions business Total System Services (TSYS), has inked a multi-year agreement with the bank.

Under the renewed partnership, TSYS will continue to offer a suite of processing and support services for the bank’s commercial card portfolio.

Well Fargo has been using the payment processing platform of TSYS since 25 years.

Wells Fargo SVP and manager of commercial card product suite Mary Mazzochi said: “We continue to benefit from the flexibility and power of TSYS’ innovative payments solutions, along with the support of Global Payments, as we look to further simplify, streamline and digitise the overall experience for our commercial card customers.”

Global Payments employs 24,000 people globally.

The company has presence in 100 countries across North America, Europe, Asia Pacific and Latin America.

Global Payments SEVP and TSYS Issuer Solutions president Gaylon Jowers said: “We have had a great relationship with Wells Fargo for many years, and this agreement provides further validation of our market leading technologies, products and services for commercial payments that clients have come to expect from our company.”

Last month, Canada’s TD Bank signed a multi-year card processing agreement with Global Payments.

In May 2020, US-based bank holding company Truist Financial signed a long-term partnership agreement with Global Payments for the latter’s credit card processing services.

Global Payments acquired TSYS last year for $21.5bn in an all-stock deal.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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