TSYS signs contracts with Rabobank and Optal Financial

Credit-card and payment processor TSYS has inked a couple of contracts, one with a new client and the other a renewal with an existing one.

The Columbus-based firm on Wednesday said it has signed an agreement with Optal Financial Limited to handle authorizations for that virtual card issuer’s payments card business. Optal has offices in Australia, Hong Kong and the United Kingdom.

Optal said it handles some services for MasterCard-branded payment products. Terms of the deal were not released.

Then on Thursday, TSYS said it has renewed a payments processing agreement with Netherlands-based Rabobank. Aside from handling the bank’s consumer cards, TSYS also will oversee customer service and fraud and risk management tasks for the financial institution.

Rabobank, which has more than 24,000 employees, does business in 40 nations. Details of the contract were not released.

(TSYS profit drops 29 percent to $85.3 million in third quarter)

(TSYS cutting jobs, offering severance as part of restructuring)

This story was originally published October 28, 2016 at 12:17 PM with the headline "TSYS signs contracts with Rabobank and Optal Financial."