COLUMBUS, GA – TSYS (NYSE: TSS) has reached an agreement in principle with Capital One Financial Corporation to provide processing services for Capital One’s North American portfolio of consumer and small-business credit card accounts.
TSYS and Capital One have agreed to enter into a period of exclusive negotiations, and expect that a definitive agreement will be finalized in the near future. Execution of the definitive agreement remains subject to the successful completion of this final phase of negotiation and due diligence. Neither company intends to issue any further comments until negotiations are concluded.
About TSYS
TSYS is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit and prepaid services for financial institutions and retail companies in North America, Europe and the Asia-Pacific. Based in Columbus, Ga., TSYS is closely held by Synovus Financial Corp., one of FORTUNE magazine’s “Most Admired Companies” and a member of its “100 Best Companies to Work For” Hall of Fame. For more information, contact news@tsys.com.
