TSYS in Billing Deal with CheckFree
Page 1 of 1
TSYS is a large credit, debit, commercial and private- label card processor. The company serves card-issuing institutions throughout the United States, Puerto Rico, Canada, and Mexico. CheckFree provides electronic billing and payment services to financial institutions. Financial terms of the deal were not disclosed.
TSYS will provide for its client a new online billing and payment service called SureRemit, one of the components of the TSYS SureTransact family of electronic commerce products. Atlanta-based CheckFree will facilitate transmission of billing data from TSYS to individual cardholders, who will then be able to view their statements and pay them via a point-and-click system.
"This partnership will allow Total System to offer unprecedented functionality to the 92 million cardholders we currently process on behalf of our clients," said TSYS President Philip W. Tomlinson. "Our clients benefit from reduced costs in printing and mailing statements, as well as in remittance processing fees. Cardholders save postage and check costs. The alliance is a win-win situation for everyone."