Total System Services (commonly referred to as TSYS ) is a US credit card processor, merchant acquirer and bank credit card issuer. TSYS provides payment processing, merchants, and related payment services to financial and nonfinancial institutions in the United States, Europe, Canada, Mexico, and internationally. It operates through four segments: North American Services, International Services, Merchant Services, and NetSpend. TSYS is located in Columbus, Georgia, United States.
Video TSYS
History
In 1959 TSYS began as a division of Columbus Bank and Trust (CB & amp; T). In 1974, CB & amp; T starts processing credit cards for other banks. In 1983, TSYS became a separate public company, although majority ownership remained with CB & amp; T and his successor, Synovus. In 1991, TSYS began development on next generation processing platforms. Then in 1994, TSYS launched TS2. On 24 September 1999 TSYS opened a new River Edge Campus in Downtown Columbus. On October 25, 2007, TSYS and Synovus (holding 81% of shares at the time) announced the spin-off that was completed by the end of 2007.
On July 12, 1999, Total System Services, Inc. announced the signing of a multi-year agreement with Bancahsa, to process Honducard-Visa credit cards, representing a step in Total System Services's international expansion strategy to become a global processor of choice.
In 2004, after the merger between Bank One and Chase to form J.P. Morgan Chase, TSYS was awarded a contract to process its credit service business of 87 million cards.
In 2008 TSYS launched n & gt; genuity, quarterly publications designed to provide relevant research, in-depth commentary, and timely insight into trends affecting the world of payments.
In 2010, TSYS announced that it acquired a majority stake in the acquisition of a $ 150.5 million First National Bank of Omaha merchant, renamed TSYS Merchant Solutions.
In August 2012 TSYS announced a joint venture with Central Payments Co., one of the fastest growing ISOs in the US.
In November 2012 TSYS announced the acquisition of ProPay, a Utah-based company with more than 250,000 merchants.
In February 2013 TSYS announced that it has agreed to purchase Netspend, a prepaid debit card provider, for $ 1.4 billion in cash.
In November 2013 TSYS announced TSYS Merchant Insights, a new partnership with Womply, a startup based in San Francisco, to provide revenue analysis, social media, and reputation tools for all TSYS merchants.
In February 2016 TSYS announced its agreement to acquire TransFirst in an all-cash transaction of $ 2.35 billion. The addition of TransFirst will make TSYS the sixth largest exporter in the United States. This acquisition closes on April 1, 2016.
In February 2017, the TSYS lobby of GOP is credited for a charge that will remove the Consumer Financial Protection Boundary limits on overdraft charges. 10-12% of NetSpend revenue comes from this cost.
TSYS acquired the former Citigroup card production facility in Columbus, Ohio and invested $ 25 million to build a second, 200,000 square foot (19,000 m 2 ) credit card production facility that began operating by the end of 2017. The facility is intended to has the capacity to produce 67 million credit cards per year when full capacity and employs 145 people. The company says investment will help grow production and isolate its business from disruptions due to all the work being located on one site.
Maps TSYS
Subsidiaries
- Infonox
- TSYS Getting Solutions
- TSYS Card Tech
- TSYS do Brasil
- TSYS Europe SM
- Japanese TSYS SM
- Merchant Solutions TSYS SM
- Columbus Productions, Inc. SM
- ProPay
- NetSpend
- TSYS Managed Services EMEA (TMS) (formerly a joint venture with Traders, a Dimension Data company)
- TransFirst (obtained from Vista Equity Partners on April 1, 2016)
Joint ventures
- Total System Services de MÃÆ' Â © xico, S.A. de C.V (TSYS de Mexico) (49%)
- CUP Data (44.5%)
- Payment Center Co (100%)
References
External links
- TSYS Official Website
- TSYS Gets Website
- TSYS Merchant Website
- TSYS Prime Website
Source of the article : Wikipedia
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