Global Payments signs Multi-year agreement with Wells Fargo

Under threat from new players, established payments infrastructure providers are seeking to firm up their longstanding relationships with banking giants. The US-based payments technology company Global Payments has extended its partnership with Wells Fargo bank under which its TSYS solution business has renewed agreement with the bank.

Under the agreement, TSYS will provide processing and support services to the bank’s commercial card portfolio. The bank has been using TSYS payment processing since 1995.

Global Payments is an S&P500 member which provides software and cloud services which streamline business operations and it is based out of Georgia. Back in July 2019, Global Payments and TSYS had announced that they had entered in a definitive agreement to combine in an all-stock merger of equals.

The terms of the agreement between the parties were not disclosed.