Total System Services Inc., known as TSYS, Wednesday expanded its presence in the Mexican card market by signing a multiyear payments-processing agreement with Globalcard S.A. Financial. Terms of the deal were not disclosed. Globalcard issues Visa and private-label credit cards to unbanked Mexicans. Globalcard launched its consumer card portfolio in April, a TSYS spokesperson says. Globalcard eventually may offer debit and prepaid cards, the spokesperson tells CardLine. Under the agreement, TSYS will provide account-processing, risk-management, portfolio-management and reporting services. TSYS now processes for eight Mexican financial institutions, including banks and credit card companies.

Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry