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.
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