April 28, 2010
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News: TSYS and Alaska Option Form An Alliance
One of the world's largest companies for outsourced payment services, TSYS Program Solutions has formed an alliance with a leading debit and credit card payment processing company, Alaska Option. The two companies signed a multiyear marketing agreement that will provide credit unions with VISA and MasterCard signature debit and credit card programs, PIN-based ATM/POS network services, and fraud management solutions. The agreement is designed to offer the best in its class that will enhance the credit cardholder's experience and provide credit unions with opportunities to generate additional income. An added benefit is the capabilities of reducing back office expenses with advanced dispute and settlement management and reconciliation procedures.
A valuable feature is that credit unions will no longer have to seek out more than one firm to fulfill all its needs; one payment provider will meet all their debit and credit card processing and electronic funds transfer (EFT) needs. In a statement, President and Chief Operating Officer of TSYS, M. Troy Woods said that Alaska Option is a full service EFT network and highly reputable firm and TSYS is excited about the alliance. The company believes the agreement will enhance product delivery and create additional opportunities for TSYS. Also commenting on the agreement was B. John Shipe, President of Alaska Option who also noted the company's excitement over working with TSYS to offer credit unions a comprehensive set of signature and PIN based debit and credit card services.
TSYS Program Solutions is a division of TSYS which targets credit unions and other regional financial institutions. With its extensive brand management, TSYS will offer Alaska Option cutting edge technology and expertise within a data driven approach with the best in its class solutions. Alaska Option is a full-service EFT network offering ATM and POS transaction processing worldwide including, card personalization of debit and credit cards, PIN generation, gateway transaction switching, and more. Alaska Option Services Corporation was the first company to offer online debit card point of sale programs and ranks in the top 10 in its category nationally.