TSYS Finalizes Contract With Capital One

COLUMBUS, GA – TSYS has finalized a five year definitive agreement with Capital One Financial Corporation to provide processing services for its North American portfolio of consumer and small business credit card accounts.


Capital One is the No. 6 card issuer in the United States, with more than $46 billion in managed loans in its US Card division. TSYS plans to complete the conversion of Capital One’s portfolio from its in house processing system to the industry leading TS2® payments engine in phases, beginning in late 2006 and ending in early 2007. TSYS expects to maintain the card processing functions of Capital One for at least five years. After a minimum of three years of processing with TSYS, the agreement provides Capital One the opportunity to license TS2® under a long-term payment structure.

“After an extensive evaluation period, Capital One chose TSYS because we offer a compelling combination of service, technology and value that’s unmatched in the marketplace,” says M. Troy Woods, president and chief operating officer of TSYS. “We begin an exciting new chapter in our relationship with tremendous respect for the entrepreneurial spirit that has established Capital One as one of the leading institutions in this industry. We’ve got a great team pulled together and are very excited about starting this journey with Capital One.”