TSYS announced that it has signed a payments agreement with Optal Financial Limited, one of Europe’s leading virtual card issuers. Under the agreement, TSYS will process authorisations for Optal’s significant virtual payments card business.

With offices in Australia, UK and Hong Kong, Optal is a worldwide company that provides end-to-end B2B payments services. Their products include virtual account numbers that ensure supplier payments are processed quickly and safely, enabling automated reconciliation at the point of sale.

“Optal is an innovative leader in virtual payments, and we are excited to begin a new long-term relationship with them,” said Rob Hudson, group executive of TSYS International. “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.”

“We’re impressed by the robust processing platform, breadth of capability and high availability service that TSYS provide and are excited about partnering with them to improve service to our clients globally,” said Alex Mills, chief operating officer of Optal.

No terms of the long-term agreement were announced.