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5Star Bank Renews TSYS For Card Processing
5Star Bank has renewed its processing agreement with TSYS, a global provider of electronic payment services, for its MasterCard and Visa credit cards, extending the successful partnership that began in 1990. Under the terms of the five-year agreement, TSYS will continue to provide consumer and commercial card account processing for 5Star's 200,000 cards. 5Star is one of the largest providers of financial services for members of the US armed forces.
"For more than a decade, TSYS has partnered with us to help us meet our business objectives," said 5Star Bank President & CEO Emily Dean. "TSYS was the right choice for us at renewal time because TSYS offers the technology, flexibility, data accuracy, data availability and outstanding customer service for us to continue to diversify and grow our customer base through a greater variety of products and services.
We look forward to leveraging this value-added relationship as we seek to expand our cardholder base by serving more members within our armed forces while pursuing relationships with agent bank, affinity, and association network access partners."
"5Star's ongoing vote of confidence in TSYS as their payments processing partner reaffirms the value we bring them through our people and technology," said TSYS President Philip W. Tomlinson. "Knowing that in some way we are helping 5Star serve our nations' armed services' personnel makes TSYS extremely proud."
TSYS currently serves 20% of the US Visa and MasterCard consumer credit card market and 87% of the US Visa and MasterCard commercial card market. TSYS is also the largest processor of retail accounts in the United States serving 17% of the market. TSYS processes for some of the world's best known and most respected banks, credit unions, and retailers.
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