TSYS – Wikipedia, the free encyclopedia

10 Jul

Total System Services, Inc. (commonly referred to as TSYS) is the largest processor of merchant acquirers and bank credit card issuers (#1 for credit card issuers and #2 for merchant processing in the United States). TSYS processes over $1 trillion a year in credit and debit card transactions. They created the TS2 and TS1 technology platforms, which are considered among the best in the industry. TSYS is located in Columbus, Georgia, United States.

Contents

1 History

2 Subsidiaries

3 Joint ventures

4 References

5 External links

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]

In 2008 TSYS launched n>genuity,[3] a quarterly publication designed to provide pertinent research, in-depth commentary and timely insight on the trends that impact the world of payments [4]

In 2010, TSYS announced they acquired majority stake in First National Bank of Omaha’s merchant acquisition business for $150.5 million[5] , which was renamed TSYS Merchant Solutions[6]

In February 2013 TSYS announced that it had agreed to purchase Netspend, a prepaid debit card provider, for $1.4 billion in cash.

via TSYS – Wikipedia, the free encyclopedia.

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