TSYS extends contract with credit-card issuer Capital One

Columbus-based credit-card and payment processor TSYS received an early Christmas gift this week.

The company said Thursday it has signed a long-term contract extension with Capital One Financial Corp., the credit-card issuer and financial firm known well for its “What’s in your wallet?” commercials.

Terms of the agreement between TSYS, which processes transactions globally, and Capital One were not disclosed. But it’s always good news to secure continued business with a card issuer that has nearly 90 million pieces of plastic in circulation. The firm’s total purchase volume is about $249 billion, according to trade publication Nilson Report.

“The strong sense of partnership we have developed with Capital One has allowed for a tremendous amount of growth and innovation over the years,” Allen Pettis, TSYS executive vice president and president of North America Issuer Solutions with the Columbus firm, said in a statement. “This agreement is a testament to the hard work, collaboration and open communication it takes to make a long-standing client relationship successful.”

In other news this week, TSYS said its board of directors approved a quarterly cash dividend of 13 cents per share. It’s payable Jan. 2 to owners of its common stock as of Dec. 21.

Headquartered in downtown Columbus, TSYS employs about 11,500 worldwide, with nearly 5,000 of those in Columbus. It racked up revenue of $4.2 billion in 2016 while processing 25.5 billion transactions. It does business in 13 countries.

This story was originally published December 14, 2017 at 5:47 PM with the headline "TSYS extends contract with credit-card issuer Capital One."