Total System Services Inc. has reached a deal to support Tesco Personal Finance PLC's portfolio of 2.4 million credit cards in the U.K.
Tesco Bank, a unit of the U.K. grocery chain Tesco PLC, has more than 6 million accounts and is the country's sixth-largest credit card provider.
TSYS, of Columbus, Ga., did not provide a value for the contract. The pact was announced Tuesday.
Under the agreement, TSYS will provide customer account management services using its TS2 processing platform. Tesco Bank's cards are already processed on the TS2 system through a relationship between the retailer and Royal Bank of Scotland Group that dates to 2001, but it will move the portfolio to its own version of the processing software in the second quarter of next year.
