US-based payment processor TSYS and Canadian Tire’s unit Canadian Tire Financial Services have extended their exclusive agreement aimed at processing and other payment card services.

As a part of the multi-year extension of the agreement initiated in 1998, the partnership now also includes MasterCard-branded and private label retail portfolios of Canadian Tire.

Canadian Tire CTC and CTFS Delivery vice president Bonnie Agosthino said TSYS has been a great partner through the years, working closely with the company to understand its needs for growth and expansion of payments programs.

TSYS North America services segment president Bill Pruett said: "Canadian Tire is one of our longest tenured clients in the Canadian market, and it’s been a pleasure to work hand in hand with them through the years."

"As one of the marquee brands in Canada, it’s important to us that they have a flexible, innovative payments program that meets the needs of their customers throughout the country."

Besides traditional issuer processing services, TSYS provides Canadian Tire with options such as merchant acquiring, including fraud and risk management, portfolio analysis, and a rewards and loyalty program.