Carrick-on-Shannon based Avantcard to take over Tesco credit card business

Carrick-on-Shannon based Avantcard has announced a major new deal to take over the running of Tesco Credit cards.

The company, which employs several hundred people at its offices in the former MBNA premises, has confirmed that the move to acquire the Tesco business will be subject to regulatory approval.

Customers on current Tesco accounts will be switched to Avantcard services once the deal is completed after the company re-entered the personal finance market in 2017.

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It’s hoped the deal to can be completed by the autumn with customers set to be informed of the plans in the coming weeks.

The announcement follows previous partnerships with Chill and MasterCard announce by the company in recent months.