View source for TSYS

{{short description|Subsidiary of Global Payments}}{{Redirect|Netspend|the rapper|Nettspend}}{{Infobox company
| name = Total System Services, Inc.
| logo = TSYS logo.svg
| type =
| industry = [[Payment processor]]
| foundation = {{start date and age|1983}}
| location = [[Columbus, Georgia]]
| key_people = M. Troy Woods, [[Chairman]] <BR> Jeff Sloan, [[CEO]] <BR>Paul M. Todd, [[CFO]]
| services = [[Credit card]] processing
| revenue = {{increase}} $4.028 billion (2018)
| operating_income = {{increase}} $0.822 billion (2018)
| net_income = {{increase}} $0.577 billion (2018)
| assets = {{increase}} $7.468 billion (2018)
| equity = {{increase}} $2.585 billion (2018)
| num_employees = 4900
| parent = [[Global Payments]]
| 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>
}}
'''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==
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 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.
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 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 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, 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==
{{Reflist|1}}
==External links==
* [https://www.tsys.com/news-innovation/whats-new/Articles-and-Blogs/nGenuity-Journal/ ngenuity payments journal]
{{DEFAULTSORT:Tsys}}
[[Category:Companies formerly listed on the New York Stock Exchange]]
[[Category:American companies established in 1983]]
[[Category:Financial services companies established in 1983]]
[[Category:Financial services companies of the United States]]
[[Category:Payment service providers]]
[[Category:Companies based in Columbus, Georgia]]
[[Category:Financial technology companies]]
[[Category:Corporate spin-offs]]
[[Category:1983 establishments in Georgia (U.S. state)]]
[[Category:1980s initial public offerings]]
[[Category:2019 mergers and acquisitions]]