RIVERWOODS, Ill. - Discover Financial Services has signed an issuer-processor agreement with TSYS, processor for bankcard issuers and merchant acquirers.
According to a news release, TSYS will now begin processing prepaid and credit card transactions on the Discover Network, a business unit of Discover Financial Services. The agreement is expected to contribute to Discover Network's increased sales volume and an expanded infrastructure.
"Our agreement with TSYS enables Discover Network to expand its reach to a wider range of card issuers - from the nation's largest banks to smaller, independent financial institutions," said Harit Talwar, executive vice president of Discover Financial Services. "Adding TSYS to the Discover Network as an issuer processor increases choice for our issuing partners, and broadens our opportunity to deliver payment solutions that meet the needs of business partners."
TSYS develops and processes customized solutions for the credit, debit, healthcare, loyalty, prepaid, retail and smart markets. In 2006, TSYS processed 13.2 billion issuing and acquiring transactions for more than 400 million cardholder accounts.
