BofA Building Up Its Card Processing Ops.

Publication: Electronic Payments Week

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Bank of America seems be serious about its card processing business and planning to take it in-house, likely in an effort to squeeze some cash out of the $35 billion MBNA deal, while also planning to spread its operations deeper into commercial cards.

Last week, TSYS and Synovus, TSYS's majority owner, both said in their quarterly SEC filings that TSYS was deep in talks with BofA over the future of its large card processing contract with the bank (see The Checklist, this issue). TSYS said...

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