This article or section may need to be rewritten to comply with Wikipedia's quality standards, as multiple factual errors are contained in article including status as a fully absorbed company, not a subsidiary of Global Payments..(July 2023) |
Type | Subsidiary |
---|---|
Industry | Payment processor |
Founded | 1983 |
Headquarters | Columbus, Georgia |
Key people | 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 | 4900 |
Parent | Global Payments |
Subsidiaries | Netspend ProPay Cayan |
Website | www |
Footnotes /references [1] [2] |
Total System Services, Inc. (commonly referred to as TSYS), is an American financial technology company headquartered in Columbus, Georgia. In 2019, TSYS was merged into Global Payments Inc. [3] [4] TSYS is the largest third-party payment processor for issuing banks in North America, with a 40% market share, and one of the largest in Europe. [1] It 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.
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 1983, the company became a public company via an initial public offering. [5]
In 1995, the company merged its merchant processing services with those of Visa Inc. [6] In August 2004, the company acquired Clarity Payment Solutions for $53 million. [7] In 2007, Synovus completed the corporate spin-off of TSYS. [8] In July 2004, the company began processing the credit cards issued by J.P. Morgan Chase. [9] In 2008, the company launched n>genuity, a quarterly publication on the world of payments. [10]
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. [11] In May 2011, the company acquired TermNet. [12] In August 2012, the company announced a joint venture with Central Payment Co. LLC, a direct merchant acquirer. [13] In December 2012, the company acquired ProPay, a Utah-based company with over 250,000 merchants. [14]
In July 2013, the company acquired Netspend, a prepaid debit card provider, for $1.4 billion. [15] 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. [16] In April 2016, the company acquired TransFirst for $2.35 billion, making it the 6th largest acquirer in the United States. [17] [18] In June 2016, the company acquired the remaining 45% stake in TSYS Managed Services EMEA from The Merchants Group Limited. [19]
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. [20] [21]
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. [22]
In January 2018, the company acquired Cayan for $1.05 billion. [23] In June 2018, the company acquired Jacksonville, Florida-based iMobile3 for $13.4 million. [24]
On September 18, 2019, TSYS and Global Payments completed their merger agreement for $21.5 billion. [4] The combined company, Global Payments Inc., is publicly traded (NYSE: GPN), and has more than 24,000 employees worldwide. [25]
Visa Inc. is an American multinational payment card services corporation headquartered in San Francisco, California. It facilitates electronic funds transfers throughout the world, most commonly through Visa-branded credit cards, debit cards and prepaid cards. Visa is one of the world's most valuable companies.
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Euronet Worldwide is an American provider of global electronic payment services with headquarters in Leawood, Kansas. It offers automated teller machines (ATM), point of sale (POS) services, credit/debit card services, currency exchange and other electronic financial services and payments software. Among others, it provides the prepaid subsidiaries Transact, PaySpot, e-pay, Movilcarga, TeleRecarga and ATX.
Discover Financial Services is an American financial services company that owns and operates Discover Bank, an online bank that offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. It also owns and operates the Discover and Pulse networks, and owns Diners Club International. Discover Card is the third largest credit card brand in the United States, when measured by cards in force, with nearly 50 million cardholders. Discover is currently headquartered in the Chicago suburb of Riverwoods, Illinois.
Elavon Inc., formerly NOVA, is a processor of credit card transactions and a subsidiary of U.S. Bancorp. Elavon offers merchant processing in more than 30 countries and supports the payment needs of more than 1,000,000 merchant locations across the globe. Elavon is the 4th largest U.S. credit card processor and is a top 6 acquirer in the European marketplace.
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Worldpay Group plc was a payment processing company. It was acquired by FIS in July 2019 for $43 billion. It was listed on the London Stock Exchange until 16 January 2018 when it was acquired by Vantiv to form Worldpay, Inc.
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Chase Paymentech is a payment processing and merchant acquiring business of JPMorgan Chase. Paymentech payment platforms supports businesses to process payments. Paymentech authorises payment transactions in more than 130 currencies. In addition to this, the company provides business analytics, payment fraud detection, and data security solutions.
Braintree is a Chicago-based company that primarily deals in mobile and web payment systems for e-commerce companies. The company was acquired by PayPal on 26 September, 2013.
Worldpay, Inc. was an American payment processing company and technology provider. In June 2019 it was acquired and merged into Fidelity National Information Services (FIS). Before its acquisition, it was headquartered in the greater Cincinnati, Ohio area. Worldpay, was the largest U.S. merchant acquirer ranked by general-purpose transaction volume.
Cayan is a provider of payment technologies and merchant services, based in Boston, Massachusetts. The company enables payments in physical stores and mobile locations, as well as e-commerce. Cayan was acquired by TSYS in December 2017 and operates as wholly-owned subsidiary of TSYS.
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Blackhawk Network Holdings Inc. is an American privately held company that operates in the prepaid, gift card and payments industries. It sells branded physical and digital gifts, phones, prepaid debit, and incentives cards online and through a network of global retailers. Blackhawk's network reaches people through a number of different channels including in-store, online, mobile, and incentive. Blackhawk headquarters are in Pleasanton, California and the company was incorporated in 2006.
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