TSYS has signed a multiyear contract with DaimlerChrysler Services North America, the financial services arm of DaimlerChrysler AG, to provide processing for the company's new co-branded Rewards Visa consumer credit card portfolio in the United States.
Under the agreement, DaimlerChrysler services will utilize turnkey services through the TSYS family of companies for every component of its new consumer credit card business. TSYS furnishes the consumer card processing, collections and customer service. Columbus Bank and Trust, a subsidiary of Synovus Financial Corp., TSYS parent company, will provide funds settlement for cards.
DaimlerChrysler Services will offer brand-specific credit cards to Chrysler, Jeep and Dodge owners. Cardholders will earn one point for every dollar in purchases charged to the card and bonus points for purchases at partners including Chrysler, Jeep and Dodge dealerships. Points can be redeemed for certificates which are used in dealerships like cash for such items as dealership services, quality Mopar parts, a down payment on a new or used vehicle, or even an extended service contract.
DaimlerChrysler Services will offer cards on a pre-approved basis to approximately five million owners throughout the USA, as well as through credit card applications available at dealerships early this month. The accounts will be processed on TS2, TSYS' state-of-the-art processing system, allowing for increased functionality and client driven versatility.
