TSYS extends contract with large Canadian retailer

Credit-card processor TSYS said today it has extended its contract with Canadian Tire Corp. Ltd.

The retailer is the largest household goods and auto parts company in Canada, operating more than 1,160 stores, gas bars and car washes.

Canadian Tire, a client of TSYS since 1998, also manages 4.6 million Canadian Tire MasterCard accounts. It has 57,000 employees.

Columbus-based TSYS will be the exclusive processor of Canadian Tire's branded and private-label cards and accounts, the company said.

"As one of the largest bankcard franchises in Canada, Canadian Tire Financial Services relies on the customized products and secure services of TSYS,” Marco Marrone, Canadian Tire Financial Services president, said in a statement.

TSYS also will offer other services to the retailer, including fraud and risk management, portfolio analysis and a rewards and loyalty program.

Terms of the multi-year agreement were not disclosed.

"Canadian Tire is a marquee brand and a client that consistently seeks to launch new and innovative products for its customers,” Troy Woods, TSYS president and chief operating officer, said in a statement.

TSYS is a global card and payment processor, doing business in North America, Europe, Asia and Latin America.