|M. Troy Woods, Chairman |
Jeff Sloan, CEO
Paul M. Todd, CFO
|Services||Credit card processing|
|Revenue||$4.028 billion (2018)|
|$0.822 billion (2018)|
|$0.577 billion (2018)|
|Total assets||$7.468 billion (2018)|
|Total equity||$2.585 billion (2018)|
Number of employees
|Footnotes / references|
Total System Services, Inc. (commonly referred to as TSYS), headquartered in Columbus, Georgia, provides payment processing services, merchant services and related payment services. It also provides reloadable prepaid debit cards and payroll cards, and demand deposit accounts to the underbanked. It is the largest third-party processor for issuing banks in North America, with a 40% market share, and one of the largest in Europe. It is a subsidiary of Global Payments.
In 1959, TSYS was founded as a division of Columbus Bank and Trust (now Synovus). In 1974, it began processing credit cards for other banks.
In August 2004, the company acquired Clarity Payment Solutions for $53 million.
In 2008, the company launched n>genuity, a quarterly publication on the world of payments.
In 2010, the company acquired a 51% stake in the merchant acquisition business of First National Bank of Omaha for $150.5 million, which was renamed TSYS Merchant Solutions. The remaining 49% stake was acquired in January 2011.
In May 2011, the company acquired TermNet.
In December 2012, the company acquired ProPay, a Utah-based company with over 250,000 merchants.
In July 2013, the company acquired Netspend, a prepaid debit card provider, for $1.4 billion.
In November 2013, the company announced TSYS Merchant Insights, a partnership with Womply, a San Francisco-based startup, to provide revenue, social media, and reputation analysis tools to all TSYS merchants.
In June 2014, CEO Philip W. Tomlinson retired and was replaced with M. Troy Woods, then the president and COO.
In June 2016, the company acquired the remaining 45% stake in TSYS Managed Services EMEA from The Merchants Group Limited.
In February 2017, the company's lobbying of the Republican Party was credited for a bill that would remove the Consumer Financial Protection Bureau's limits on overdraft fees. 10-12% of NetSpend's revenue comes from these fees.
In late 2017, the company acquired a former Citigroup card production facility in Columbus, Ohio and invested $25 million to build out a second, 200,000 square feet (19,000 m2) credit card production facility, with a capacity to produce 67 million credit cards per year.
In January 2018, the company acquired Cayan for $1.05 billion.
In June 2018, the company acquired Jacksonville, Florida-based iMobile3 for $13.4 million.
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- "LD-2 Lobbying Report". United States Senate.
- Zeitlin, Matthew (February 8, 2017). "Republicans Are Moving To Scrap Rules That Limit Overdraft Fees". BuzzFeed.
- Navera, Tristan (February 8, 2018). "Credit-card maker adding jobs as it ramps up production at Columbus plant". American City Business Journals. Columbus, Ohio.
- "TSYS Completes Acquisition of Cayan to Accelerate Its Position as a Leading Technology Payments Provider" (Press release). Business Wire. January 11, 2018.
- Mandel, Eric (June 7, 2018). "TSYS buys an Inc 5000 fastest-growing company for $13.4M". American City Business Journals.
- "Global Payments Completes Merger with TSYS, Creating Preeminent Technology-Enabled Payments Company" (Press release). Business Wire. September 18, 2019.