TSYS Renews Commercial Payments Agreement with Degussa Bank in Germany
TSYS (NYSE: TSS) announced today that it has extended its commercial payments agreement with Degussa Bank in Germany. The multi-year agreement covers a broad range of products and services that TSYS will provide Degussa Bank’s corporate and business clients.
Degussa Bank offers a low cost, efficient solution for its commercial clients. TSYS provides processing services for the bank’s Mastercard® and Visa® products, as well as account decisioning and fraud and risk management services. A TSYS client since 2010, Degussa Bank chose TSYS for its market-leading technology, a proven delivery track record and its partnering approach.
“We are excited to extend our agreement with TSYS,” said Dieter Bourlauf, chief digital officer of Degussa Bank. “Their strong track record of success and stellar reputation in the commercial card industry, combined with the quality service we have experienced since our original conversion onto their platform, gives us confidence that they will continue to help our commercial card program grow and flourish.”
“It is a great feeling when a valued client like Degussa Bank renews their agreement with TSYS,” said Rob Hudson, group executive, TSYS International. “We established years ago that Germany was an important market to us, and with the Degussa Bank renewal and other recent renewals in the German market, TSYS proves how we can provide value in a number of different ways to German issuers.”
Terms of the long-term agreement were not released.
About Degussa Bank
Degussa Bank is Germany’s one and only WorksiteFinancial Services Bank with a focus on you as a professional. Our special feature is the proximity to your working environment - the Worksite. With us as a WorksiteBank, you can settle your bank business conveniently with one of our 200 partner companies on the company premises in the Bank-Shop, as well as by telephone, InternetBanking or smartphone app.
We are one of the largest providers of commercial cards in Germany and offer our customers comprehensive credit card-based solutions for travel management, travel expenses and procurement. Degussa Bank company cards are always a reliable companion for business travel.
As a customer of Degussa Bank, you have a competent partner for financial solutions. Always adapted to your wishes and possibilities, you profit from our complete range of financial and corporate services to special employee conditions - simple, transparent and fair.
TSYS® (NYSE: TSS) is a leading global payments provider, offering seamless, secure and innovative solutions across the payments spectrum — from issuer processing and merchant acquiring to prepaid program management. We succeed because we put people, and their needs, at the heart of every decision. It’s an approach we call ‘People-Centered Payments®’.
Our headquarters are located in Columbus, Ga., U.S.A., with approximately 11,500 team members and local offices spread across 13 countries. TSYS generated revenue of $4.2 billion in 2016, while processing more than 25.5 billion transactions. We are a member of The Civic 50 and were named one of the 2017 World’s Most Ethical Companies by Ethisphere magazine. TSYS is a member of the S&P 500 and routinely posts all important information on its website. For more, visit tsys.com.
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