Credit card and payment processor TSYS has inked a deal with a Mexican company that markets cards to consumers without bank accounts.
Columbus-based TSYS said Wednesday it will process payments for Globalcard, which focuses on "unbanked" people needing a Visa or private-label credit card.
Aside from processing the cards, TSYS said it will offer risk management and portfolio management services, as well as reporting tools.
"TSYS has been a major player in the Mexican card market for more than 15 years, and we chose its team for their vast knowledge of our credit card industry,” Juan Garay, Globalcard general director, said in a statement.
Troy Woods, TSYS president and chief operating officer, said the agreement shows his firm's commitment to the Mexican market.
"This partnership also stands as an example of the solid international growth our company is achieving as we continue to expand our global presence," Woods said in a statement.
No financial terms of the deal were disclosed.