US-based credit card processor TSYS has renewed its payments agreement with Advanzia Bank, a credit card issuer in Luxembourg.
As per terms of the renewed agreement, TSYS will continue to process the bank’s consumer credit card portfolio.
Furthermore, TSYS will provide additional services including fraud and risk management, verification and contactless card support.
Advanzia manages a portfolio of MasterCard credit cards across the Luxembourg, German, French and Austrian markets, transacting all of its business online. Advanzia has been a TSYS client since 2006.
Advanzia Bank CEO Marc Hentgen said: “TSYS’ options-driven platform continues to give us the flexibility we need to grow and operate in a number of markets across Europe. We’re confident that its global experience will contribute to rapid growth within our card portfolios.”
TSYS International group executive Rob Hudson said: “Our TS2 platform continues to facilitate Advanzia’s expansion by keeping them on top of the latest developments across their industry.
“We have enjoyed a great relationship for the last decade, and look to continued success with them in the future.”
Terms of the multi-year agreement have not been revealed.