TSYS Announces Agreement with U.S. Bank to Process Corporate Card Payments in Europe

June 28, 2011 09:00 AM Eastern Daylight Time 

COLUMBUS, Ga. & LONDON--(BUSINESS WIRE)--U.S. Bank and TSYS today announced an agreement for TSYS to provide core processing services to Elavon Financial Services Limited, a subsidiary of U.S. Bank. It will begin issuing corporate cards in Europe this summer.

“U.S. Bank’s decision to work with TSYS in Europe is a testament to the strong relationship that exists in the U.S. and the experience TSYS has gained through our expansion in Europe.”

U.S. Bank will utilise TSYS’ TS2^® Commercial Card platform, which currently supports clients across a number of European countries with multiple languages and currencies. TS2 is capable of serving a client's portfolio across more than one continent — a critical advantage for institutions planning rapid, international growth.

“Partnering with a stable and dependable partner like TSYS gives our customers added reassurance of world-class service,” said Alan Gibson, director of European Commercial Payments for Elavon. “This represents an extension of a longstanding relationship that dates back more than 20 years. With TSYS, we have confidence in our ability to follow our customers anywhere they are doing business, around the world.”

“TSYS is one of the leading processors of commercial payments in Europe, now processing in 17 countries across the continent,” said Bob Evans, managing director of Europe, TSYS International. “U.S. Bank’s decision to work with TSYS in Europe is a testament to the strong relationship that exists in the U.S. and the experience TSYS has gained through our expansion in Europe.”

U.S. Bank announced in March 2011 that it would begin issuing corporate cards to European-based employees of its North American multinational customers through Elavon Financial Services Limited, a wholly-owned subsidiary of U.S. Bank parent company U.S. Bancorp.

The main focus for U.S. Bank initially will be to have Elavon issue cards to customers in the UK, Ireland, France, Germany, Spain and Italy. The bank plans to offer settlement options in euros and British pound sterling, and will support its customer language requirements in English, French, German, Italian and Spanish. The cards will meet European technology standards, including full chip and PIN capability.

U.S. Bank is one of TSYS’ longest standing clients, with a relationship dating back to 1989.

About TSYS

TSYS (NYSE: TSS) is reshaping a new era in digital commerce, connecting consumers, merchants, financial institutions, businesses and governments. Through unmatched customer service and industry insight, TSYS creates a better experience for buyers and sellers, supporting cross-border payments in more than 85 countries. Offering merchant payment-acceptance solutions as well as services in credit, debit, prepaid, mobile, chip, healthcare, installments, money transfer and more, TSYS makes it possible for those in the global marketplace to conduct safe and secure electronic transactions with trust and convenience.

TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks. For more information, please visit us at www.tsys.com.

About U.S. Bank

U.S. Bancorp (NYSE: USB), with $311 billion in assets as of March 31, 2011, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,082 banking offices and 5,238 ATMs in 25 states and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products. Visit U.S. Bancorp on the web at www.usbank.com.

Contacts

TSYS Media Relations
Cyle Mims, +1-706-644-3110
cylemims@tsys.com
or
TSYS Investor Relations
Shawn Roberts, +1-706-644-6081
shawnroberts@tsys.com
or
TSYS International
Victoria Winn, +44.1904.562.577
victoriawinn@tsys.com
or
U.S. Bank
Teri Charest, +1-612-303-0732
Corp. Communications