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TheStreet Open House

TSYS Extends Payments Agreement With Canadian Tire

Stocks in this article: TSS

TSYS (NYSE: TSS) announced today that it has extended its exclusive agreement with Canadian Tire Financial Services, a division of Canadian Tire, to provide processing and other payment card program services. The multi-year extension includes Canadian Tire’s MasterCard-branded and private label retail portfolios.

“TSYS has been a great partner through the years, working closely with us to understand our needs as we continue to grow and expand our payments programs,” said Bonnie Agosthino, vice president, CTC and CTFS Delivery for Canadian Tire. “Their commitment to technology and customer service helps us better serve our customers now, and we are confident TSYS will continue to do so in the future.”

“Canadian Tire is one of our longest tenured clients in the Canadian market, and it’s been a pleasure to work hand in hand with them through the years,” said Bill Pruett, president of the North America services segment, TSYS. “As one of the marquee brands in Canada, it’s important to us that they have a flexible, innovative payments program that meets the needs of their customers throughout the country.”

TSYS provides Canadian Tire with a number of additional services outside of traditional issuer processing and merchant acquiring, including fraud and risk management, portfolio analysis and a rewards and loyalty program. Canadian Tire has been a TSYS client since 1998.

Terms of the renewal were not released.

About Canadian Tire

Canadian Tire Corporation, Limited, (TSX:CTC.A) (TSX:CTC) or "CTC," is a family of businesses that includes a retail segment, a financial services division and CT Real Estate Investment Trust. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal categories. PartSource and Gas+ are key parts of the Canadian Tire network. The retail segment also includes Mark's, a leading source for casual and industrial wear, and FGL Sports (Sport Chek, Hockey Experts, Sports Experts, National Sports, Intersport, Pro Hockey Life and Atmosphere), which offers the best active wear brands. The nearly 1,700 retail and gasoline outlets are supported and strengthened by our Financial Services division and the approximately 85,000 people employed across the Company. For more information, visit Corp.CanadianTire.ca.

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