TSYS (NYSE: TSS)
announced today that it has renewed its payments agreement with Missouri-based
. The multi-year agreement includes renewed processing for Commerce’s consumer, commercial and retail credit card portfolios, as well as its signature debit portfolio. In addition, the agreement allows TSYS to further serve Commerce Bank by providing PIN debit services.
“We continue to enjoy the high level of customer service and flexibility that we’ve come to expect from TSYS to service our numerous platforms,” said Carl Bradbury, Commerce Bank director of consumer card products. “We have seen significant growth in our cards portfolio throughout our relationship and look forward to continuing that trend over the course of this new extension.”
“Commerce Bank has been a valued client since the mid-1990s,” said Bill Pruett, president of North America Services, TSYS. “It serves as affirmation when a long-time client not only extends their contract, but also continues to add to the scope of your relationship the longer they are with you.”
As part of the agreement, TSYS will continue to provide Commerce Bank with additional services such as fraud prevention, risk management and full customer support.
Financial terms of the agreement were not disclosed.
About Commerce Bank
Commerce Bank, is a subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), a $23.1 billion regional bank holding company, as of December 31, 2013. For almost 150 years, Commerce Bank has been meeting the financial services needs of individuals and businesses. Commerce Bank provides a diversified line of financial services, including business and personal banking, wealth management, financial planning, and investments through its affiliated companies. Commerce Bank operates in more than 360 retail locations in the Central United States and has a nationwide presence in the commercial payments industry. Commerce Bancshares also has operating subsidiaries involved in mortgage banking, leasing, credit-related insurance, private equity and real estate activities.