TSYS, a US-based credit card processor, has inked a long-term payments agreement with Virgin Money, a UK-based retail bank.

As per terms of the agreement, TSYS will provide flexible and reliable debit processing services for Virgin Money’s customers within the UK.

Earlier, Virgin Money selected TSYS’ TS2 platform to support its UK cards portfolio.

Virgin Money COO Mark Parker said: “After the successful implementation of our credit card operation, TSYS has been selected to provide our debit card services having demonstrated they can provide a similar secure and resilient solution to support our current account proposition.

“We are building a flexible solution to enable us to issue contactless MasterCard debit cards and the new TSYS solution will help us to improve our service to current account customers and help them manage their money more easily."

TSYS executive vice president of international services segment Kelley Knutson said: “The combination of our experience in international markets and the strength of the Virgin brand will continue to ensure the future growth of their card business.

“TSYS strives to develop and maintain strong relationships with key issuers in the UK and across Europe, and it is a privilege to work with high-profile, and capable, companies such as Virgin Money.”