TSYS
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| File:Tsyslogo.png | |
| Company type | Public (NYSE: TSS) |
|---|---|
| Industry | Credit Card |
| Founded | Columbus, Georgia (1983) |
| Headquarters | Columbus, GA , USA |
Key people | Philip W. Tomlinson, Chairman & CEO Troy Woods, President |
| Products | TS1,TS2 |
| Revenue | $2 billion |
| Website | www.tsys.com |
Total System Services, Inc. (NYSE: TSS) (commonly referred to as TSYS) is the largest processor of merchant acquirers and bank credit card issuers. Creators of TS2 and TS1. TSYS is located in Columbus, Georgia, United States. TSYS acquired a leading prepaid card processor, Clarity Payment Solutions, Inc. in 2004 and rebranded it TSYS Prepaid.
History
In 1959 TSYS started as a division of Columbus Bank and Trust (CB&T). In 1974, CB&T started processing credit cards for other banks. In 1983, TSYS became a separate publicly traded company, although majority ownership remained with CB&T and its successor, Synovus. In 1991, TSYS began development on the next generation of processing platforms. Then in 1994, TSYS launched TS2. On September 24, 1999 TSYS opened up its new Riverfront Campus in Downtown Columbus.[1] On October 25, 2007, TSYS and Synovus (holding 81% of shares at the time) announced a spin-off that was completed as of the end of 2007.[2]
Total System Services Inc. Announced the acquired majority stake in First National Bank of Omaha's merchant acquisition business for $150.5 million.[3]
Cost-saving strategies
On January 20, 2010, TSYS announced a cost-reduction plan to close a revenue gap which resulted from the global recession. The result would be a 5% staff reduction, primarily in the US, by the end of February 2010. A global hiring freeze was also announced. Merit increases in pay were suspended and discretionary contributions to the employees' retirement plans were eliminated.
Subsidiaries
- INFONOX, A TSYS Company, Pune, India, formerly Infonox Software Pvt. Ltd.
- TSYS do Brazil
- TSYS Healthcare
- TSYS Analytics
- TSYS Card Tech, formerly Card Tech Ltd
- TSYS Prepaid, formerly Clarity
- TSYS Acquiring Solutions, formerly Vital
- TSYS Debt Management, also known as TDM
- TSYS Loyalty, formerly ESC Loyalty
- TSYS Merchant Solutions, formerly First National Merchant Solutions
Joint ventures
- CUP Data
- GP Net Japan
- TSYS de Mexico
- TSYS Managed Services EMEA, also known as BPM
- GUT Management Systems
- A-NAL Systems
Partners
- China UnionPay
- Ontario Systems, LLC
- Telrock
- Rockaleffa
References
- ^ "TSYS History." Retrieved on January 16, 2008.
- ^ "TSYS Board Approves Agreement with Synovus for Spin-Off." Retrieved on March 11, 2011.
- ^ "Total Systems acquires part of Bank of Omaha unit". 1 April 2010. Retrieved 5 April 2010.
- Boyce, Christopher (October 14, 2004). "Columbus, Ga.-based credit account processor completes J.P. Morgan deal". Columbus Ledger-Enquirer. Columbus, GA. Retrieved 2 January 2010.