TSYS, a US-based credit card processor, has inked a payments agreement with virtual card issuer Optal Financial.
As per terms of the agreement, TSYS will process authorisations for Optal’s significant virtual payments card business.
TSYS International group executive Rob Hudson said: “Optal is an innovative leader in virtual payments, and we are excited to begin a new long-term relationship with them.
“With our experience in the European payments market, as well as globally, TSYS will enable Optal to continue its virtual cards growth agenda and drive value to their end customers.”
Optal offers end-to-end B2B payments services. It is a long-term strategic partner and a principal member of MasterCard in the UK and Hong Kong.
It offers virtual account numbers (VANs) that quickly and safely processes supplier payments to enable automated reconciliation at the point of sale.