payment processor TSYS has entered into an agreement with Rabobank,
the largest card issuer in the Netherlands, to process the bank’s
consumer credit portfolio.

The multi-stage conversion of Rabobank’s more than 1 million
accounts to TSYS’s TS2 processing platform is scheduled to conclude
in the second quarter of 2007. Once this is completed, TSYS will be
the leading credit card processor in the Netherlands.

Under the agreement, TSYS also will support Rabobank’s newly
introduced credit card, which was launched in September in
co-operation with environmental organisation WWF. Rabobank will
compensate WWF for CO2 emissions connected with purchases that
cardholders make using the credit card.

Rabobank is owned by 218 independent local co-operative banks that
provide financial services and products to the Dutch retail and
business markets.

In its Netherlands home market, Rabobank Group has some 1.5 million
members and 9 million business and private customers.

Kelley Knutson, managing director for TSYS Europe, said:
“Rabobank’s reputation in the Dutch market makes this the type of
alliance we are most interested in cultivating. Our shared
community- and service-oriented philosophies translate to a strong
relationship that will result in excellent service for Rabobank’s

Jos van Lange, senior executive vice-president for consumer banking
at Rabobank, commented: “We are pleased that TSYS shares our
enthusiasm for such a progressive loyalty programme. We have every
confidence that this is a processing partner whose experience in
global markets and enterprising technology means long-term success
for this card as well as the relationship as a whole.”