TSYS announced recently that it signed a payments agreement with KBC Bank to launch its debit card portfolio in Ireland.
“Debit is the fastest growing payment instrument in Europe and presents an opportunity for TSYS to bring its extensive experience to this sector,” TSYS Executive Vice President Kelley Knutson said. “We are committed to developing our debit proposition in TSYS’ home markets, and by working with KBC, we not only gain a new customer but also the opportunity to share best practices as we grow together in the Irish payments market.”
KBC, a subsidiary of the KBC Group, one of Europe’s largest financial services providers with operations in the U.S. and Southeast Asia, has provided personal and business banking services in Ireland for 40 years. The KBC portfolio will be processed on TSYS’ TS2 platform, and customer service support will be provided by TSYS Managed Service EMEA.
“KBC is providing a real alternative in Irish banking and over the last 18 months we have been expanding our presence and introducing new and innovative products,” Edward Dillon, the head of retail products for KBC Bank Ireland, said. “The ability to launch a debit card is seen as the next critical stage in our growth. We are pleased to partner with TSYS, the leading debit processor in Ireland, to work together to launch our debit card portfolio.”