The financial services arm of Carrefour in Brazil has inked a deal though 2014 with TSYS. TSYS supports Carrefour’s 12 million hybrid and private-label cards in circulation in Brazil.
The Carrefour portfolio has grown 64% since the Carrefour and TSYS card program began in 2012. TSYS has been working with Banco CSF for the past five years and has extended its existing card-processing agreement with TSYS.
TSYS will continue to support Banco CSF’s growing business through its in-country operating infrastructure utilizing its local teams based in Campinas for technical, delivery and business expertise, while leveraging its global footprint in technology, servicing and product capabilities.
Banco CSF has significant market share within Brazil, it is currently the 7th largest credit card issuer in the market, and the leading issuer among financial arms of retailers.
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