TSYS: Difference between revisions
After the acquisition of TSYS by Global Payments M. Troy Woods is no longer the CEO and is the Chairman of the board, updated "Key people" as a result of title change, added Jeff Sloan who is now the CEO of Global Payments as there is no CEO of TSYS as of the acquisition on September 18/2019. |
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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, [[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> |
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==References== |
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[[Category:Companies formerly listed on the New York Stock Exchange]] |
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[[Category:American companies established in 1983]] |
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[[Category:Technology companies established in 1983]] |
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[[Category:Payment systems]] |
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[[Category:Companies based in Columbus, Georgia]] |
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[[Category:Financial technology companies]] |
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[[Category:Corporate spin-offs]] |
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[[Category:1983 establishments in Georgia (U.S. state)]] |
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[[Category:2019 mergers and acquisitions]] |
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==References== |
==References== |
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{{Reflist|1}} |
{{Reflist|1}} |
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Revision as of 09:44, 6 December 2019
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| Company 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 | 12,820 (2018) |
| Parent | Global Payments |
| Website | www |
| Footnotes / references [1][2] | |
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 cards and payroll cards, and demand deposit accounts to the underbanked. It is the largest third-party processor for issuing banks in North America, with a 40% market share, and one of the largest in Europe.[1] It is a subsidiary of Global Payments.
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.[3]
In 1995, the company merged its merchant processing services with those of Visa Inc.[4]
In August 2004, the company acquired Clarity Payment Solutions for $53 million.[5]
In 2007, Synovus completed the corporate spin-off of TSYS.[6]
In July 2004, the company began processing the credit cards issued by J.P. Morgan Chase.[7]
In 2008, the company launched n>genuity, a quarterly publication on the world of payments.[8]
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.[9]
In May 2011, the company acquired TermNet.[10]
In August 2012, the company announced a joint venture with Central Payment Co. LLC, a direct merchant acquirer.[11]
In December 2012, the company acquired ProPay, a Utah-based company with over 250,000 merchants.[12]
In July 2013, the company acquired Netspend, a prepaid debit card provider, for $1.4 billion.[13]
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.[14]
In June 2014, CEO Philip W. Tomlinson retired and was replaced with M. Troy Woods, then the president and COO.[15]
In April 2016, the company acquired TransFirst for $2.35 billion, making it the 6th largest acquirer in the United States.[16][17]
In June 2016, the company acquired the remaining 45% stake in TSYS Managed Services EMEA from The Merchants Group Limited.[18]
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.[19][20]
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.[21]
In January 2018, the company acquired Cayan for $1.05 billion.[22]
In June 2018, the company acquired Jacksonville, Florida-based iMobile3 for $13.4 million.[23]
On September 18, 2019, Global Payments acquired the company.[24]
References
- ^ a b "Total System Services, Inc. 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Total System Services, Inc. 2018 Form 10-K Annual Report: Financial Data". United States Securities and Exchange Commission.
- ^ "Total System Services (TSYS, Inc.) went public on 1983-08-19". TechCrunch.
- ^ "Card Processors To Link Services". The New York Times. Bloomberg News. August 17, 1995.
- ^ "TSYS Acquires Clarity Payment Solutions; TSYS Prepaid Positioned to Emerge as Leading Global Processor for Prepaid Cards" (Press release). Business Wire. August 3, 2004.
- ^ "TSYS Board Approves Agreement with Synovus for Spin-Off" (Press release). Business Wire. October 25, 2007.
- ^ "JPMorgan Chase Selects TSYS for Credit Card Processing" (Press release). Business Wire. July 7, 2004.
- ^ "TSYS Introduces n>genuity in action: n>genSM Initiative for the Next Generation of Payment Solutions" (Press release). Business Wire. April 7, 2008.
- ^ "TSYS Acquires Remaining 49 Percent of First National Merchant Solutions From First National Bank of Omaha" (Press release). Business Wire. January 4, 2011.
- ^ "TSYS buys TermNet Merchant Services". American City Business Journals. May 2, 2011.
- ^ Adams, Tony (August 9, 2012). "TSYS buys 60 percent of California firm to boost its merchant business". Ledger-Enquirer.
- ^ "TSYS Completes Acquisition of ProPay" (Press release). Propay. December 26, 2012.
- ^ "TSYS Completes Acquisition of NetSpend" (Press release). Business Wire. July 1, 2013.
- ^ "TSYS and Womply Providing Big Data". Womply. November 13, 2013.
- ^ "TSYS CEO Tomlinson retiring". American City Business Journals. June 23, 2014.
- ^ "TSYS Completes Acquisition of TransFirst" (Press release). Business Wire. April 1, 2016.
- ^ "TSYS becomes 6th largest U.S. merchant acquirer". American City Business Journals. April 1, 2016.
- ^ "TSYS takes over TSYS Managed Services EMEA". American City Business Journals. June 13, 2016.
- ^ "LD-2 Lobbying Report". United States Senate.
- ^ Zeitlin, Matthew (February 8, 2017). "Republicans Are Moving To Scrap Rules That Limit Overdraft Fees". BuzzFeed.
{{cite news}}: Cite has empty unknown parameter:|1=(help) - ^ Navera, Tristan (February 8, 2018). "Credit-card maker adding jobs as it ramps up production at Columbus plant". American City Business Journals. Columbus, Ohio.
- ^ "TSYS Completes Acquisition of Cayan to Accelerate Its Position as a Leading Technology Payments Provider" (Press release). Business Wire. January 11, 2018.
- ^ Mandel, Eric (June 7, 2018). "TSYS buys an Inc 5000 fastest-growing company for $13.4M". American City Business Journals.
- ^ "Global Payments Completes Merger with TSYS, Creating Preeminent Technology-Enabled Payments Company" (Press release). Business Wire. September 18, 2019.
- Companies formerly listed on the New York Stock Exchange
- American companies established in 1983
- Technology companies established in 1983
- Payment systems
- Companies based in Columbus, Georgia
- Financial technology companies
- Corporate spin-offs
- 1983 establishments in Georgia (U.S. state)
- 2019 mergers and acquisitions