TSYS today announced it has signed a multi–year agreement to service the closed–loop, private–label storecards of Argos and Homebase; retail brands that are part of Home Retail Group, the UK´s leading home and general goods retailer.
Argos and Homebase have offered their customers the ability to apply for store credit through in–store, phone and internet options since 2001, and currently have an active cardholder base of over 1m accounts
"We chose to partner with TSYS after an extensive evaluation process. TSYS was chosen over other potential service providers because of the power of TSYS´s workflow tool - ProphIT, and the ability of TSYS to support our future business strategy," said Greg Ball, Managing Director for Home Retail Group Financial Services.
"Servicing the needs of the retail market relative to loyalty, payment options and speed is a strength of TSYS and the agreement with Home Retail Group´s Argos and Homebase is a testament to our answering the needs of this market," said Kelley Knutson, managing director, TSYS Europe, and group executive, TSYS Global Services.
Terms of the agreement were not disclosed but include customer account management, payment processing and customer care, with the conversion of existing accounts scheduled for 2009.
About Home Retail Group
Home Retail Group (www.homeretailgroup.com) is the UK´s leading home and general merchandise retailer with pro forma annual sales of more than £5.8 billion. It sells products under two distinctive and complementary retail brands, Argos and Homebase, which are both household names in the UK. Argos and Homebase are supported by an in–house financial services business, which provides a range of credit and insurance products to customers through each of the customer–facing channels of stores, online and over the phone. Home Retail Group Financial Services is one of the largest store card providers in the UK, with over one million active store card customers.
About TSYS
TSYS (NYSE: TSS)(www.tsys.com) is one of the world´s largest companies for outsourced payment services, offering a broad range of issuer– and acquirer–processing technologies that support consumer–finance, credit, debit, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia–Pacific regions. For more information, contact news@tsys.com.
