COLUMBUS, GA and LONDON— November 1, 2016 — TSYS (NYSE: TSS) today announced that it has signed a payments agreement with Optal Financial Limited, one of Europe’s leading virtual card issuers. Under the agreement, TSYS will process authorisations for Optal’s significant virtual payments card business.
With offices in Australia, UK and Hong Kong, Optal is a worldwide company that provides end-to-end B2B payments services. Their products include virtual account numbers (VANs) that ensure supplier payments are processed quickly and safely, enabling automated reconciliation at the point of sale.
“Optal is an innovative leader in virtual payments, and we are excited to begin a new long-term relationship with them,” said Rob Hudson, group executive of TSYS International. “With our experience in the European payments market, as well as globally, TSYS will enable Optal to continue its virtual cards growth agenda and drive value to their end customers.”
“We’re impressed by the robust processing platform, breadth of capability and high availability service that TSYS provide and are excited about partnering with them to improve service to our clients globally,” said Alex Mills, chief operating officer of Optal.
No terms of the long-term agreement were announced.
Optal is re-inventing how payment processes work across complex industries. By stripping payment processes of their customary inefficiency, we help companies boost profitability across a growing number of sectors around the world.
As a long term strategic partner and a principal member of MasterCard in the UK and Hong Kong, Optal issues and acquires MasterCard branded payment products, driving its focus on developing and bringing to market game-changing payment solutions.
Optal holds a 23.5% interest in eNett International, a specialist global travel payments company, and is its primary issuer of virtual credit cards.
For more information about Optal, visit www.optal.com.
TSYS® (NYSE: TSS) unlocks opportunities in payments for payment providers, businesses and consumers. Our headquarters are in Columbus, Georgia, USA, and we operate in more than 80 countries with local offices across the Americas, EMEA and Asia-Pacific.
We provide seamless, secure and innovative solutions across the payments spectrum — from issuer processing and merchant acquiring to prepaid program management — delivered through partnership and expertise. 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 industry is changing every day — and we’re leading the way toward the payments of tomorrow. We routinely post all important information on our website. For more, visit us at tsys.com.