Tesco Bank, the financial services arm of the
world’s fourth-largest retailer, is to deploy TSYS’ TS2 processing
platform to support its credit card business.
Tesco’s credit card portfolio has been
processed on the TS2 platform since 2001 through Royal Bank of
Scotland, former joint-owners of Tesco Bank. Tesco Bank will
transfer to its own version of the TSYS platform in the second
quarter of 2011.
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Tesco Bank is the UK’s sixth largest credit
card provider with 2.4 million cards in circulation. Overall, the
unit offers 28 financial products and services and has more than
six million customer accounts.
“TSYS has the functionality to support all of
our current requirements as well as the flexibility to support us
with our future growth,” said Shaun Doherty, IT and operations
director at Tesco Bank. “
“As we already use the TSYS platform for Tesco
Bank credit card processing, the company has a strong knowledge of
our business and understands our customer-centric approach. We also
want to ensure that our migration runs smoothly and an important
consideration for us was TSYS’ strong migration record.”
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By GlobalData
