Compelo Banking is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More

Wachovia, TSYS reach agreement for payment services

US bank Wachovia has signed an agreement with payment services provider TSYS for provision of core processing in support of its re-entry into the credit card business.

Until recently, Wachovia had processed its consumer credit card portfolio through an agent-bank agreement with the former MBNA. Following the announcement of a prospective Bank of America takeover, Wachovia decided on issuing its own cards directly.

Wachovia plans to launch its card program in early summer using the TS2 payment-processing engine.

Our company has decided to re-enter the card-issuing business to provide Wachovia customers with outstanding products and stellar customer service. TSYS is a company we can build a trusting relationship with, said Steven Boehm, president of Wachovia card services.