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{{short description|Subsidiary of Global Payments}}
{{short description|Subsidiary of Global Payments}}
{{Infobox company
{{Infobox company
| name = Total System Services, Inc.
| name = Total System Services, Inc.
| logo = TSYS logo.svg
| logo = TSYS logo.svg
| type = [[Subsidiary]]
| type =
| industry = [[Payment processor]]
| industry = [[Payment processor]]
| foundation = {{start date and age|1983}}
| foundation = {{start date and age|1983}}
| location = [[Columbus, Georgia]]
| location = [[Columbus, Georgia]]
| key_people = M. Troy Woods, [[Chairman]] <BR> Jeff Sloan, [[CEO]] <BR>Paul M. Todd, [[CFO]]
| key_people = M. Troy Woods, [[Chairman]] <BR> Jeff Sloan, [[CEO]] <BR>Paul M. Todd, [[CFO]]
| services = [[Credit card]] processing
| services = [[Credit card]] processing
| revenue = {{increase}} $4.028 billion (2018)
| revenue = {{increase}} $4.028 billion (2018)
| operating_income = {{increase}} $0.822 billion (2018)
| operating_income = {{increase}} $0.822 billion (2018)
| net_income = {{increase}} $0.577 billion (2018)
| net_income = {{increase}} $0.577 billion (2018)
| assets = {{increase}} $7.468 billion (2018)
| assets = {{increase}} $7.468 billion (2018)
| equity = {{increase}} $2.585 billion (2018)
| equity = {{increase}} $2.585 billion (2018)
| num_employees = 12,820 (2018)
| num_employees = 4900
| parent = [[Global Payments]]
| parent = [[Global Payments]]
| homepage = {{URL|https://www.tsys.com/}}
| subsid =
| homepage = {{URL|https://www.tsys.com/}}
| footnotes = <ref name=10K>{{cite web | url=https://www.sec.gov/Archives/edgar/data/721683/000155837019000862/tss-20181231x10k.htm | title=Total System Services, Inc. 2018 Form 10-K Annual Report | publisher=[[U.S. Securities and Exchange Commission]]}}</ref><ref>{{cite web | url=https://www.sec.gov/Archives/edgar/data/721683/000155837019000862/tss-20181231ex1315e85db.htm | title=Total System Services, Inc. 2018 Form 10-K Annual Report: Financial Data | publisher=[[United States Securities and Exchange Commission]]}}</ref>
| footnotes = <ref name=10K>{{cite web | url=https://www.sec.gov/Archives/edgar/data/721683/000155837019000862/tss-20181231x10k.htm | title=Total System Services, Inc. 2018 Form 10-K Annual Report | publisher=[[U.S. Securities and Exchange Commission]]}}</ref><ref>{{cite web | url=https://www.sec.gov/Archives/edgar/data/721683/000155837019000862/tss-20181231ex1315e85db.htm | title=Total System Services, Inc. 2018 Form 10-K Annual Report: Financial Data | publisher=[[United States Securities and Exchange Commission]]}}</ref>
}}
}}
'''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 card]]s and [[Paycheck#Payroll card|payroll card]]s, and [[demand deposit account]]s to the [[underbanked]]. It is the largest third-party processor for [[issuing bank]]s in North America, with a 40% [[market share]], and one of the largest in Europe.<ref name=10K/> It is a subsidiary of [[Global Payments]].
'''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|Global Payments Inc]].<ref>{{Cite news |date=2019-05-28 |title=Global Payments to buy TSYS for $21.5 billion in latest fintech deal |language=en |work=Reuters |url=https://www.reuters.com/article/us-total-systems-m-a-global-payments-idUSKCN1SY142 |access-date=2022-05-21}}</ref><ref name=":0">{{Cite web |last=Fuscaldo |first=Donna |title=Global Payments And TSYS Merge In $21.5 Billion Deal |url=https://www.forbes.com/sites/donnafuscaldo/2019/05/28/global-payments-and-tsys-merge-in-21-5-billion-deal/ |access-date=2022-05-21 |website=Forbes |language=en}}</ref> TSYS is the largest third-party payment processor for [[issuing bank]]s in North America, with a 40% [[market share]], and one of the largest in Europe.<ref name="10K" /> It provides payment processing services, merchant services and related payment services. It also provides reloadable [[prepaid debit card]]s and [[Paycheck#Payroll card|payroll card]]s, and [[demand deposit account]]s to the [[underbanked]].


==History==
==History==
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 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]].<ref>{{Cite web |title=TSYS Profile and Case Study |url=https://georgiahistory.com/wp-content/uploads/2018/09/TSYS-profile-and-case-study.pdf |access-date=May 21, 2022 |website=Georgia Historical Society}}</ref>


In 1995, the company merged its merchant processing services with those of [[Visa Inc.]]<ref>{{cite news | url=https://www.nytimes.com/1995/08/17/business/card-processors-to-link-services.html | title=Card Processors To Link Services | agency=[[Bloomberg News]] | work=[[The New York Times]] | date=August 17, 1995}}</ref> In August 2004, the company acquired Clarity Payment Solutions for $53 million.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20040803005269/en/TSYS-Acquires-Clarity-Payment-Solutions-TSYS-Prepaid | title=TSYS Acquires Clarity Payment Solutions; TSYS Prepaid Positioned to Emerge as Leading Global Processor for Prepaid Cards | publisher=[[Business Wire]] | date=August 3, 2004}}</ref> In 2007, [[Synovus]] completed the [[corporate spin-off]] of TSYS.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20071025006301/en/TSYS-Board-Approves-Agreement-Synovus-Spin-Off | title=TSYS Board Approves Agreement with Synovus for Spin-Off | publisher=[[Business Wire]] | date=October 25, 2007}}</ref> In July 2004, the company began processing the credit cards issued by [[J.P. Morgan Chase]].<ref>{{cite press release | url=https://www.businesswire.com/news/home/20040707005836/en/JPMorgan-Chase-Selects-TSYS-Credit-Card-Processing | title=JPMorgan Chase Selects TSYS for Credit Card Processing | publisher=[[Business Wire]] | date=July 7, 2004}}</ref> In 2008, the company launched n>genuity, a quarterly publication on the world of payments.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20080407005089/en/TSYS-Introduces-genuity-action-gen-SM-Initiative | title=TSYS Introduces n>genuity in action: n>genSM Initiative for the Next Generation of Payment Solutions | publisher=[[Business Wire]] | date=April 7, 2008}}</ref>
In August 1983, the company became a [[public company]] via an [[initial public offering]].<ref>{{cite web | url=https://www.crunchbase.com/ipo/total-system-services-ipo--61959b97 | title=Total System Services (TSYS, Inc.) went public on 1983-08-19 | publisher=[[TechCrunch]]}}</ref>


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.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20110104005391/en/TSYS-Acquires-Remaining-49-Percent-National-Merchant | title=TSYS Acquires Remaining 49 Percent of First National Merchant Solutions From First National Bank of Omaha | publisher=[[Business Wire]] | date=January 4, 2011}}</ref> In May 2011, the company acquired TermNet.<ref>{{cite news | url=https://www.bizjournals.com/atlanta/news/2011/05/02/tsys-buys-termnet-merchant-services.html | title=TSYS buys TermNet Merchant Services | work=[[American City Business Journals]] | date=May 2, 2011}}</ref> In August 2012, the company announced a [[joint venture]] with Central Payment Co. LLC, a direct merchant acquirer.<ref>{{cite news | url=https://www.ledger-enquirer.com/news/business/article29236969.html | title=TSYS buys 60 percent of California firm to boost its merchant business | first=Tony | last=Adams | work=[[Ledger-Enquirer]] | date=August 9, 2012}}</ref> In December 2012, the company acquired ProPay, a Utah-based company with over 250,000 merchants.<ref>{{cite press release | url=https://www.propay.com/en-US/Press-Articles/Press-Releases/TSYS-Completes-Acquisition-of-ProPay | title=TSYS Completes Acquisition of ProPay | publisher=Propay | date=December 26, 2012}}</ref>
In 1995, the company merged its merchant processing services with those of [[Visa Inc.]]<ref>{{cite news | url=https://www.nytimes.com/1995/08/17/business/card-processors-to-link-services.html | title=Card Processors To Link Services | agency=[[Bloomberg News]] | publisher=[[The New York Times]] | date=August 17, 1995}}</ref>


In August 2004, the company acquired Clarity Payment Solutions for $53 million.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20040803005269/en/TSYS-Acquires-Clarity-Payment-Solutions-TSYS-Prepaid | title=TSYS Acquires Clarity Payment Solutions; TSYS Prepaid Positioned to Emerge as Leading Global Processor for Prepaid Cards | publisher=[[Business Wire]] | date=August 3, 2004}}</ref>
In July 2013, the company acquired Netspend, a prepaid debit card provider, for $1.4 billion.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20130701005789/en/TSYS-Completes-Acquisition-NetSpend | title=TSYS Completes Acquisition of NetSpend | publisher=[[Business Wire]] | date=July 1, 2013}}</ref> 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.<ref>{{cite news | url=https://www.bizjournals.com/atlanta/news/2014/06/23/tsys-ceo-tomlinson-retiring.html | title=TSYS CEO Tomlinson retiring | work=[[American City Business Journals]] | date=June 23, 2014}}</ref> In April 2016, the company acquired TransFirst for $2.35 billion, making it the 6th largest acquirer in the United States.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20160401005813/en/TSYS-Completes-Acquisition-TransFirst | title=TSYS Completes Acquisition of TransFirst | publisher=[[Business Wire]] | date=April 1, 2016}}</ref><ref>{{cite news | url=https://www.bizjournals.com/atlanta/news/2016/04/01/tsys-becomes-6th-largest-u-s-merchant-acquirer.html | title=TSYS becomes 6th largest U.S. merchant acquirer | work=[[American City Business Journals]] | date=April 1, 2016}}</ref> In June 2016, the company acquired the remaining 45% stake in TSYS Managed Services EMEA from The Merchants Group Limited.<ref>{{cite news | url=https://www.bizjournals.com/atlanta/news/2016/06/13/tsys-takes-over-tsys-managed-services-emea.html | title=TSYS takes over TSYS Managed Services EMEA | work=[[American City Business Journals]] | date=June 13, 2016}}</ref>
In 2007, [[Synovus]] completed the [[corporate spin-off]] of TSYS.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20071025006301/en/TSYS-Board-Approves-Agreement-Synovus-Spin-Off | title=TSYS Board Approves Agreement with Synovus for Spin-Off | publisher=[[Business Wire]] | date=October 25, 2007}}</ref>

In July 2004, the company began processing the credit cards issued by [[J.P. Morgan Chase]].<ref>{{cite press release | url=https://www.businesswire.com/news/home/20040707005836/en/JPMorgan-Chase-Selects-TSYS-Credit-Card-Processing | title=JPMorgan Chase Selects TSYS for Credit Card Processing | publisher=[[Business Wire]] | date=July 7, 2004}}</ref>

In 2008, the company launched n>genuity, a quarterly publication on the world of payments.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20080407005089/en/TSYS-Introduces-genuity-action-gen-SM-Initiative | title=TSYS Introduces n>genuity in action: n>genSM Initiative for the Next Generation of Payment Solutions | publisher=[[Business Wire]] | date=April 7, 2008}}</ref>

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.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20110104005391/en/TSYS-Acquires-Remaining-49-Percent-National-Merchant | title=TSYS Acquires Remaining 49 Percent of First National Merchant Solutions From First National Bank of Omaha | publisher=[[Business Wire]] | date=January 4, 2011}}</ref>

In May 2011, the company acquired TermNet.<ref>{{cite news | url=https://www.bizjournals.com/atlanta/news/2011/05/02/tsys-buys-termnet-merchant-services.html | title=TSYS buys TermNet Merchant Services | work=[[American City Business Journals]] | date=May 2, 2011}}</ref>

In August 2012, the company announced a [[joint venture]] with Central Payment Co. LLC, a direct merchant acquirer.<ref>{{cite news | url=https://www.ledger-enquirer.com/news/business/article29236969.html | title=TSYS buys 60 percent of California firm to boost its merchant business | first=Tony | last=Adams | work=[[Ledger-Enquirer]] | date=August 9, 2012}}</ref>

In December 2012, the company acquired ProPay, a Utah-based company with over 250,000 merchants.<ref>{{cite press release | url=https://www.propay.com/en-US/Press-Articles/Press-Releases/TSYS-Completes-Acquisition-of-ProPay | title=TSYS Completes Acquisition of ProPay | publisher=Propay | date=December 26, 2012}}</ref>

In July 2013, the company acquired Netspend, a prepaid debit card provider, for $1.4 billion.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20130701005789/en/TSYS-Completes-Acquisition-NetSpend | title=TSYS Completes Acquisition of NetSpend | publisher=[[Business Wire]] | date=July 1, 2013}}</ref>

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.<ref>{{cite web | url=https://www.womply.com/press/tsys-womply-providing-big-data/ | title=TSYS and Womply Providing Big Data | publisher=Womply | date=November 13, 2013}}</ref>

In June 2014, CEO Philip W. Tomlinson retired and was replaced with M. Troy Woods, then the president and COO.<ref>{{cite news | url=https://www.bizjournals.com/atlanta/news/2014/06/23/tsys-ceo-tomlinson-retiring.html | title=TSYS CEO Tomlinson retiring | work=[[American City Business Journals]] | date=June 23, 2014}}</ref>

⚫
In April 2016, the company acquired TransFirst for $2.35 billion, making it the 6th largest acquirer in the United States.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20160401005813/en/TSYS-Completes-Acquisition-TransFirst | title=TSYS Completes Acquisition of TransFirst | publisher=[[Business Wire]] | date=April 1, 2016}}</ref><ref>{{cite news | url=https://www.bizjournals.com/atlanta/news/2016/04/01/tsys-becomes-6th-largest-u-s-merchant-acquirer.html | title=TSYS becomes 6th largest U.S. merchant acquirer | work=[[American City Business Journals]] | date=April 1, 2016}}</ref>

In June 2016, the company acquired the remaining 45% stake in TSYS Managed Services EMEA from The Merchants Group Limited.<ref>{{cite news | url=https://www.bizjournals.com/atlanta/news/2016/06/13/tsys-takes-over-tsys-managed-services-emea.html | title=TSYS takes over TSYS Managed Services EMEA | work=[[American City Business Journals]] | date=June 13, 2016}}</ref>


In February 2017, the company's lobbying of the [[Republican Party (United States)|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.<ref>{{cite web | url=https://soprweb.senate.gov/index.cfm?event=getFilingDetails&filingID=93E7701E-B4E3-4A91-9CBB-82CF622FDF07&filingTypeID=78 | title=LD-2 Lobbying Report | work=[[United States Senate]]}}</ref><ref>{{cite news | url=https://www.buzzfeed.com/matthewzeitlin/republicans-are-moving-to-scrap-rules-on-overdraft-charges | title=Republicans Are Moving To Scrap Rules That Limit Overdraft Fees | last=Zeitlin | first=Matthew | work=[[BuzzFeed]] | date=February 8, 2017}}</ref>
In February 2017, the company's lobbying of the [[Republican Party (United States)|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.<ref>{{cite web | url=https://soprweb.senate.gov/index.cfm?event=getFilingDetails&filingID=93E7701E-B4E3-4A91-9CBB-82CF622FDF07&filingTypeID=78 | title=LD-2 Lobbying Report | work=[[United States Senate]]}}</ref><ref>{{cite news | url=https://www.buzzfeed.com/matthewzeitlin/republicans-are-moving-to-scrap-rules-on-overdraft-charges | title=Republicans Are Moving To Scrap Rules That Limit Overdraft Fees | last=Zeitlin | first=Matthew | work=[[BuzzFeed]] | date=February 8, 2017}}</ref>
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In late 2017, the company acquired a former [[Citigroup]] card production facility in [[Columbus, Ohio]] and invested $25 million to build out a second, {{convert|200,000|sqft}} credit card production facility, with a capacity to produce 67 million credit cards per year.<ref>{{cite news | url=https://www.bizjournals.com/columbus/news/2018/02/02/creditcard-maker-adding-jobs-as-it-ramps-up.html | title=Credit-card maker adding jobs as it ramps up production at Columbus plant | last=Navera | first=Tristan | work=[[American City Business Journals]] | location=Columbus, Ohio | date=February 8, 2018}}</ref>
In late 2017, the company acquired a former [[Citigroup]] card production facility in [[Columbus, Ohio]] and invested $25 million to build out a second, {{convert|200,000|sqft}} credit card production facility, with a capacity to produce 67 million credit cards per year.<ref>{{cite news | url=https://www.bizjournals.com/columbus/news/2018/02/02/creditcard-maker-adding-jobs-as-it-ramps-up.html | title=Credit-card maker adding jobs as it ramps up production at Columbus plant | last=Navera | first=Tristan | work=[[American City Business Journals]] | location=Columbus, Ohio | date=February 8, 2018}}</ref>


In January 2018, the company acquired Cayan for $1.05 billion.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20180111005626/en/TSYS-Completes-Acquisition-Cayan-Accelerate-Position-Leading | title=TSYS Completes Acquisition of Cayan to Accelerate Its Position as a Leading Technology Payments Provider | publisher=[[Business Wire]] | date=January 11, 2018}}</ref>
In January 2018, the company acquired Cayan for $1.05 billion.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20180111005626/en/TSYS-Completes-Acquisition-Cayan-Accelerate-Position-Leading | title=TSYS Completes Acquisition of Cayan to Accelerate Its Position as a Leading Technology Payments Provider | publisher=[[Business Wire]] | date=January 11, 2018}}</ref> In June 2018, the company acquired Jacksonville, Florida-based iMobile3 for $13.4 million.<ref>{{cite news | url=https://www.bizjournals.com/atlanta/news/2018/06/07/tsys-buys-an-inc-5000-fastest-growing-company.html | title=TSYS buys an Inc 5000 fastest-growing company for $13.4M | first=Eric | last=Mandel | work=[[American City Business Journals]] | date=June 7, 2018}}</ref>

In June 2018, the company acquired Jacksonville, Florida-based iMobile3 for $13.4 million.<ref>{{cite news | url=https://www.bizjournals.com/atlanta/news/2018/06/07/tsys-buys-an-inc-5000-fastest-growing-company.html | title=TSYS buys an Inc 5000 fastest-growing company for $13.4M | first=Eric | last=Mandel | work=[[American City Business Journals]] | date=June 7, 2018}}</ref>


On September 18, 2019, [[Global Payments]] acquired the company.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20190918005190/en/Global-Payments-Completes-Merger-TSYS-Creating-Preeminent | title=Global Payments Completes Merger with TSYS, Creating Preeminent Technology-Enabled Payments Company | publisher=[[Business Wire]] | date=September 18, 2019}}</ref>
On September 18, 2019, TSYS and Global Payments completed their merger agreement for $21.5 billion.<ref name=":0" /> The combined company, [[Global Payments|Global Payments Inc.]], is publicly traded (NYSE: GPN), and has more than 24,000 employees worldwide.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20190918005190/en/Global-Payments-Completes-Merger-TSYS-Creating-Preeminent | title=Global Payments Completes Merger with TSYS, Creating Preeminent Technology-Enabled Payments Company | publisher=[[Business Wire]] | date=September 18, 2019}}</ref>


==References==
==References==

Revision as of 12:44, 6 September 2024

Total System Services, Inc.
IndustryPayment processor
Founded1983; 41 years ago (1983)
HeadquartersColumbus, Georgia
Key people
M. Troy Woods, Chairman
Jeff Sloan, CEO
Paul M. Todd, CFO
ServicesCredit card processing
RevenueIncrease $4.028 billion (2018)
Increase $0.822 billion (2018)
Increase $0.577 billion (2018)
Total assetsIncrease $7.468 billion (2018)
Total equityIncrease $2.585 billion (2018)
Number of employees
4900
ParentGlobal Payments
Websitewww.tsys.com
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.

History

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]

References

  1. ^ a b "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. 2019-05-28. Retrieved 2022-05-21.
  4. ^ a b Fuscaldo, Donna. "Global Payments And TSYS Merge In $21.5 Billion Deal". Forbes. Retrieved 2022-05-21.
  5. ^ "TSYS Profile and Case Study" (PDF). Georgia Historical Society. Retrieved May 21, 2022.
  6. ^ "Card Processors To Link Services". The New York Times. Bloomberg News. August 17, 1995.
  7. ^ "TSYS Acquires Clarity Payment Solutions; TSYS Prepaid Positioned to Emerge as Leading Global Processor for Prepaid Cards" (Press release). Business Wire. August 3, 2004.
  8. ^ "TSYS Board Approves Agreement with Synovus for Spin-Off" (Press release). Business Wire. October 25, 2007.
  9. ^ "JPMorgan Chase Selects TSYS for Credit Card Processing" (Press release). Business Wire. July 7, 2004.
  10. ^ "TSYS Introduces n>genuity in action: n>genSM Initiative for the Next Generation of Payment Solutions" (Press release). Business Wire. April 7, 2008.
  11. ^ "TSYS Acquires Remaining 49 Percent of First National Merchant Solutions From First National Bank of Omaha" (Press release). Business Wire. January 4, 2011.
  12. ^ "TSYS buys TermNet Merchant Services". American City Business Journals. May 2, 2011.
  13. ^ Adams, Tony (August 9, 2012). "TSYS buys 60 percent of California firm to boost its merchant business". Ledger-Enquirer.
  14. ^ "TSYS Completes Acquisition of ProPay" (Press release). Propay. December 26, 2012.
  15. ^ "TSYS Completes Acquisition of NetSpend" (Press release). Business Wire. July 1, 2013.
  16. ^ "TSYS CEO Tomlinson retiring". American City Business Journals. June 23, 2014.
  17. ^ "TSYS Completes Acquisition of TransFirst" (Press release). Business Wire. April 1, 2016.
  18. ^ "TSYS becomes 6th largest U.S. merchant acquirer". American City Business Journals. April 1, 2016.
  19. ^ "TSYS takes over TSYS Managed Services EMEA". American City Business Journals. June 13, 2016.
  20. ^ "LD-2 Lobbying Report". United States Senate.
  21. ^ Zeitlin, Matthew (February 8, 2017). "Republicans Are Moving To Scrap Rules That Limit Overdraft Fees". BuzzFeed.
  22. ^ Navera, Tristan (February 8, 2018). "Credit-card maker adding jobs as it ramps up production at Columbus plant". American City Business Journals. Columbus, Ohio.
  23. ^ "TSYS Completes Acquisition of Cayan to Accelerate Its Position as a Leading Technology Payments Provider" (Press release). Business Wire. January 11, 2018.
  24. ^ Mandel, Eric (June 7, 2018). "TSYS buys an Inc 5000 fastest-growing company for $13.4M". American City Business Journals.
  25. ^ "Global Payments Completes Merger with TSYS, Creating Preeminent Technology-Enabled Payments Company" (Press release). Business Wire. September 18, 2019.
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