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TSYS history
TSYS company history timeline
Bolstering the new company's processing capacity was the acquisition of a banking software developer, Bank-R Systems Inc., also based in Columbus, in February of 1983.
In 1983, that bank spun out as Total System Services, Inc.® — later renamed TSYS® — as a new company to offer payment solutions that put people first.
By 1984, TSYS had captured second place among the country's leading credit card processors, serving some five million accounts for more than 80 financial institutions.
Revenues passed $46 million in 1987, with more than 12 million accounts, and jumped to $56 million one year later, as accounts neared 14 million.
Net income grew even faster, reaching $9.5 million by 1988.
In 1990, TSYS signed a five-year contract to process AT&T's new Universal Card.
In July 1992, the company acquired Mailtek, Inc., based in Atlanta, a full-service direct-mail provider of data processing and financial services beyond the financial community to health care companies, airlines, and the leisure industry.
But the company also made a more fundamental move in September 1992, when it unveiled plans to develop an entirely new processing system, dubbed TS2.
The Universal Cards caught on quickly, growing to represent 30 percent of TSYS's total accounts, which grew to 27 million by 1992.
The merger of longtime clients C&S/Sovran and North Carolina National Bank as Nationsbank in 1993 helped to firm TSYS's growing client list and attract other larger card issuers as well.
In 1995, TSYS revenues neared $250 million, producing a net income of $27.7 million.
In 1995, the company merged its merchant processing services with those of Visa Inc.
In 1996, TSYS handled more than 63 million consumer accounts and more than 600,000 merchant accounts for some 115 banks and other card issuers.
In July 2004, the company began processing the credit cards issued by J.P. Morgan Chase.
In August 2004, the company acquired Clarity Payment Solutions for $53 million.
In 2007, Synovus completed the corporate spin-off of TSYS.
In 2008, the company launched n>genuity, a quarterly publication on the world of payments.
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.
In August 2012, the company announced a joint venture with Central Payment Co.
In December 2012, the company acquired ProPay, a Utah-based company with over 250,000 merchants.
In July 2013, the company acquired Netspend, a prepaid debit card provider, for $1.4 billion.
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.
In April 2016, the company acquired TransFirst for $2.35 billion, making it the 6th largest acquirer in the United States.
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 m) credit card production facility, with a capacity to produce 67 million credit cards per year.
In June 2018, the company acquired Jacksonville, Florida-based iMobile3 for $13.4 million.
On September 18, 2019, Global Payments acquired the company.
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TSYS competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Elavon | 1991 | $550.0M | 4,500 | - |
| Netspend | 1999 | $137.0M | 300 | - |
| Fidelity National Global Card Services Inc | - | $31.0M | 100 | - |
| FIS | 1968 | $9.3B | 70,000 | 90 |
| Global Payments | 1967 | $10.1B | 24,000 | 95 |
| Equifax | 1899 | $5.7B | 11,200 | 190 |
| Zions Ban | 1873 | $2.8B | 10,200 | - |
| Genesis Financial Solutions, Inc. | 2001 | $21.4M | 420 | 25 |
| Mastercard | 1966 | $1.8T | 25,000 | 636 |
| Fiserv | 1984 | $20.5B | 44,000 | 389 |
TSYS history FAQs
Zippia gives an in-depth look into the details of TSYS, including salaries, political affiliations, employee data, and more, in order to inform job seekers about TSYS. The employee data is based on information from people who have self-reported their past or current employments at TSYS. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by TSYS. The data presented on this page does not represent the view of TSYS and its employees or that of Zippia.
TSYS may also be known as or be related to TSYS, TSYS MEDICAL BENEFIT TRUST, TSYS, Inc., Total System Services, Total System Services Inc, Total System Services, Inc. and Tsys.