TSYS (NYSE: TSS) today announced an agreement with Discover to process PayPal payment transactions within the contiguous United States. In August 2012, PayPal entered into a service provider relationship with Discover under which PayPal obtains access to participating merchants’ brick and mortar locations through Discover’s technological infrastructure.
PayPal offers consumers several advantages, one of which is that PayPal can serve as a single source to access customers’ credit or debit cards, bank accounts, PayPal balances, or Bill Me Later payment methods all stored in their PayPal accounts at a point-of-sale terminal.
“We are extremely pleased to support PayPal’s expansion into more physical merchant locations. We believe PayPal provides merchants and consumers more choices and helps reach new consumers at the point of sale, relying on our robust payment transaction processing platforms, as well as other value-added products and services,” said Mark Pyke, president of TSYS’ Merchant Services segment. “We anticipate the addition of PayPal as an added benefit to both merchants and consumers.”
“By processing PayPal transactions, TSYS is providing an expanded payment option for merchants’ customers, and an overall enhanced payment experience for consumers,” said Diane Offereins, president of Discover Payment Services. “TSYS is a valued partner to Discover and we’re glad to see them support this offering.”Terms of the agreement were not disclosed. 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 SM." By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend, a TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions. TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks, and has been named one of the 2013 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website, for more please visit us at www.tsys.com.
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