TSYS (NYSE: TSS) announced today that it has extended its long-term agreement with BB&T Financial, FSB, a subsidiary of BB&T Corporation, to serve as their full-service payment solutions provider. Under the terms of the agreement, BB&T will utilize TSYS’ authorization/capture and clearing/settlement processing platforms, dispute resolution services, payment acceptance applications, and other technology and support services. BB&T has been a TSYS client since 1997.
"BB&T is a true market innovator whose focus is on treating their clients as partners and providing excellence and quality in all of their products and services. We value the confidence BB&T continues to place in us as one of their strategic partners,” said Mark Pyke, president of TSYS’ Merchant Services segment. "TSYS' superior world-class processing services facilitate BB&T’s offering innovative card products designed around their customers' needs. We are delighted to continue our partnership with BB&T."
Financial terms of the long-term agreement were not disclosed.
About BB&TBB&T Corporation (NYSE: BBT) is one of the largest financial services holding companies in the U.S. with $178.5 billion in assets and market capitalization of $21.6 billion, as of June 30, 2012. Based in Winston-Salem, N.C., the company operates approximately 1,800 financial centers in 12 states and Washington, D.C., and offers a full range of consumer and commercial banking, securities brokerage, asset management, mortgage and insurance products and services. A Fortune 500 company, BB&T is consistently recognized for outstanding client satisfaction by J.D. Power and Associates, the U.S. Small Business Administration, Greenwich Associates and others. More information about BB&T and its full line of products and services is available at www.BBT.com. About TSYS At TSYS, (NYSE: TSS), we believe payments should revolve around people — not the other way around. We call this belief "People-Centered Payments." By putting people at the center of every decision we make, with unmatched customer service and industry insight, TSYS is able to support financial institutions, businesses and governments in more than 80 countries. Offering merchant payment-acceptance solutions as well as services in credit, debit, prepaid, mobile, chip, healthcare and more, we make it possible for those in the global marketplace to conduct safe and secure electronic transactions with trust and convenience.