TSYS

Last updated

Total System Services, Inc.
Industry Payment processor
Founded1983;43 years ago (1983)
Headquarters Columbus, Georgia, U.S.
Key people
M. Troy Woods (chairman)
Jeff Sloan (CEO)
Paul M. Todd (CFO)
Services Credit card processing
RevenueIncrease2.svg $4.028 billion (2018)
Increase2.svg $0.822 billion (2018)
Increase2.svg $0.577 billion (2018)
Total assets Increase2.svg $7.468 billion (2018)
Total equity Increase2.svg $2.585 billion (2018)
Number of employees
4900
Parent Fidelity National Information Services (FIS)
Website www.tsys.com
Footnotes /references
[1] [2]

Total System Services, Inc. (TSYS) is an financial technology company based in Columbus, Georgia, that 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.

Contents

The firm 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] After merging with Global Payments in 2019, [3] [4] it was sold to FIS seven years later. [5]

History

Founded in 1959 as a division of Columbus Bank and Trust (now Synovus), it began processing cards for other banks in 1974. After becoming a public company following an IPO in 1983, [6] the firm merged its merchant processing services with those of Visa Inc. in 1995. [7]

In July 2004, a month before buying Clarity Payment Solutions for $53 million, [8] it began processing the credit cards issued by J.P. Morgan Chase. [9] In 2008, a year before Synovus completed its corporate spin-off, [10] TSYS launched n>genuity, a quarterly publication on the world of payments. [11]

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. [12] In May 2011, the company acquired TermNet. [13]

In August 2012, the company announced a joint venture with Central Payment Co. LLC, a direct merchant acquirer. [14] In December, it acquired ProPay, a Utah-based company with over 250,000 merchants. [15]

In July 2013, TSYS acquired Netspend, a prepaid debit card provider, for $1.4 billion. [16] In November, 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. [17] In April 2016, the company acquired TransFirst for $2.35 billion, making it the 6th largest acquirer in the United States. [18] [19] In June 2016, the firm acquired the remaining 45% stake in TSYS Managed Services EMEA from The Merchants Group Limited. [20]

In 2017, its lobbying with the Republican Party was credited for a bill that would remove CFPB limits on overdraft fees; 10-12% of NetSpend's revenue comes from these fees. [21] [22] Later, it 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. [23]

Between January and June 2018, TSYS acquired Cayan for $1.05 billion [24] and Jacksonville, Florida-based iMobile3 for $13.4 million. [25] Upon completing its merger with TSYS on September 18, 2019, [4] Global Payments began trading under the symbol GPN on the NYSE and grew to have 24,000 employees worldwide. [26]

On January 9, 2026, Fidelity National Information Services (FIS) completed its acquisition of TSYS. [27]

References

  1. 1 2 "Total System Services, Inc. 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ "Total System Services, Inc. 2018 Form 10-K Annual Report: Financial Data". United States Securities and Exchange Commission.
  3. ↑ "Global Payments to buy TSYS for $21.5 billion in latest fintech deal". Reuters. May 28, 2019. Retrieved May 21, 2022.
  4. 1 2 Fuscaldo, Donna. "Global Payments And TSYS Merge In $21.5 Billion Deal". Forbes. Retrieved May 21, 2022.
  5. ↑ "FIS Completes Strategic Acquisition of Global Payments' Issuer Solutions Business and Sale of Worldpay Stake". January 12, 2026.
  6. ↑ "TSYS Profile and Case Study" (PDF). Georgia Historical Society. Retrieved May 21, 2022.
  7. ↑ "Card Processors To Link Services". The New York Times . Bloomberg News. August 17, 1995.
  8. ↑ "TSYS Acquires Clarity Payment Solutions; TSYS Prepaid Positioned to Emerge as Leading Global Processor for Prepaid Cards" (Press release). Business Wire. August 3, 2004.
  9. ↑ "JPMorgan Chase Selects TSYS for Credit Card Processing" (Press release). Business Wire. July 7, 2004.
  10. ↑ "TSYS Board Approves Agreement with Synovus for Spin-Off" (Press release). Business Wire. October 25, 2007.
  11. ↑ "TSYS Introduces n>genuity in action: n>genSM Initiative for the Next Generation of Payment Solutions" (Press release). Business Wire. April 7, 2008.
  12. ↑ "TSYS Acquires Remaining 49 Percent of First National Merchant Solutions From First National Bank of Omaha" (Press release). Business Wire. January 4, 2011.
  13. ↑ "TSYS buys TermNet Merchant Services". American City Business Journals . May 2, 2011.
  14. ↑ Adams, Tony (August 9, 2012). "TSYS buys 60 percent of California firm to boost its merchant business". Ledger-Enquirer .
  15. ↑ "TSYS Completes Acquisition of ProPay" (Press release). Propay. December 26, 2012.
  16. ↑ "TSYS Completes Acquisition of NetSpend" (Press release). Business Wire. July 1, 2013.
  17. ↑ "TSYS CEO Tomlinson retiring". American City Business Journals . June 23, 2014.
  18. ↑ "TSYS Completes Acquisition of TransFirst" (Press release). Business Wire. April 1, 2016.
  19. ↑ "TSYS becomes 6th largest U.S. merchant acquirer". American City Business Journals . April 1, 2016.
  20. ↑ "TSYS takes over TSYS Managed Services EMEA". American City Business Journals . June 13, 2016.
  21. ↑ "LD-2 Lobbying Report". United States Senate . Archived from the original on February 10, 2017. Retrieved February 9, 2017.
  22. ↑ Zeitlin, Matthew (February 8, 2017). "Republicans Are Moving To Scrap Rules That Limit Overdraft Fees". BuzzFeed .
  23. ↑ Navera, Tristan (February 8, 2018). "Credit-card maker adding jobs as it ramps up production at Columbus plant". American City Business Journals . Columbus, Ohio.
  24. ↑ "TSYS Completes Acquisition of Cayan to Accelerate Its Position as a Leading Technology Payments Provider" (Press release). Business Wire. January 11, 2018.
  25. ↑ Mandel, Eric (June 7, 2018). "TSYS buys an Inc 5000 fastest-growing company for $13.4M". American City Business Journals .
  26. ↑ "Global Payments Completes Merger with TSYS, Creating Preeminent Technology-Enabled Payments Company" (Press release). Business Wire. September 18, 2019.
  27. ↑ "Fidelity National Information Services, Inc. completed the acquisition of Total System Services LLC from Global Payments Inc". MarketScreener. Retrieved January 20, 2026.
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