TSYS to Process KBC's Irish Debit Cards

The payments processor Total System Services has signed an agreement with KBC Bank Ireland to launch the bank's debit card portfolio in Ireland.

TSYS' TS2 outsourced platform will process KBC's portfolio, while TSYS Managed Services EMEA will provide customer service support. KBC's parent company, KBC Group, is one of Europe's largest financial services providers, with operations also in the U.S. and Southeast Asia.

"Debit is the fastest growing payment instrument in Europe and presents an opportunity for TSYS to bring its extensive experience to this sector," said Kelley Knutson, an executive vice president at TSYS, in a July 8 press release.

TSYS also recently signed an agreement with Key Bank to provide payment processing for a consumer credit card portfolio Key purchased from Elan Financial Services in 2012. Key will also use TS2 to convert the portfolio.

Columbus, Ga.-based TSYS also signed an extension of its agreement with the Nationwide Building Society, a U.K. financial institution that also uses TS2.

TSYS last week completed its $1.4 billion purchase of NetSpend, a provider of prepaid debit cards.