WILMINGTON, Del. — A new alliance between an aggressively innovating bank and a large card processing firm is gearing up to enter the credit union card processing and portfolio acquisition markets.
PartnersFirst, a subsidiary of the $5 billion Western Alliance Bancorporation, headquartered in Las Vegas, has partnered with Total Systems (TSYS) a leading card processing firm headquartered in Columbus, Georgia which spun off from Synovus at the end of last year.
The processing company has generally focused on larger bank and issuing clients and currently processes cards for Bank of America and the Target retail chain, among others. The partnership with PartnersFirst will be the first time the processor has sought to introduce its services to credit unions and other smaller financial institutions along with other affinity issuers like alumni groups, bar associations and sports associations.
The firm has staffed its effort as well with card specialists in the Wilmington area who were laid off as a result several large bank mergers.
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