Jan 27 2010
TSYS announced today that it has signed a new long-term agreement with
U.S. Bank. As part of the agreement, TSYS will continue to support the
bank’s commercial card payment services, as well as become its exclusive
partner in providing card processing services for the bank’s Consumer
Directed Healthcare (CDH) benefit cards, issued by its Healthcare
Payment Solutions business line.
“U.S. Bank has been among the most valued commercial card clients for
more than two decades, and we are proud to add this new element to our
long-standing relationship”
The CDH agreement will allow U.S. Bank cardholders to eventually access
multiple spending accounts, cash and lines of credit from a single card.
“Now, more than ever, consumers need to control and manage how their
healthcare dollars are spent. We are confident that TSYS is the right
choice for our business, as we continue to expand our suite of
innovative, card-based healthcare payment options to those consumers,”
said Ralph Bernstein, senior vice president of U.S. Bank Healthcare
Payment Solutions.
“U.S. Bank has been among the most valued commercial card clients for
more than two decades, and we are proud to add this new element to our
long-standing relationship,” said M. Troy Woods, president and chief
operating officer of TSYS. “We look forward to helping the bank develop
cost-effective benefit payment choices for its consumer directed
healthcare program.”
Terms of the multi-year agreement were not released.
Source: TSYS
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