Looking Back.
Moving Forward.
15 Milestones That Shaped Our History — and Will Guide Our Future
INTRODUCTION
30 years of stories &
still many left to come
We are a compa ny full of s tories .
As TSYS ® cel e b rates 30 yea rs a s a pub lic co mp an y, it ’s o n ly
natural to l ook ba ck on the miles tones a nd e v e n ts that shap e d
our strategie s , vis ion a nd goa ls a long the w ay. The se e le me n ts
w ere v ital to the pa s t growth of our compa n y an d se rv e as the
foundation for our s trong future tra j ectory.
The heart and soul of TSYS lies within our people
and their stories. Stories that shaped our past and
values remain a strong part of our culture
today and reflect our commitment
make us who we are today. Stories we are not
necessarily required to share — but want to.
to People-Centered Payments.
Stories we hope never fade away.
For this celebration, we’ve unearthed and
chronicled the 15 most significant stories that
have shaped our company — from those stories
TSYS’ roots go back to 1888, when the manager
of a cotton mill in Columbus, Georgia, learned
that one of his young workers had no safe place
to store her money. This event was the catalyst to
forming one of the first banks in the area with a
pledge to doing the right thing for people and
putting their needs first. While TSYS evolved from
that bank many years later, these principles and
SM
that are lesser known to others that have been
told time and time again.
The TSYS story begins with people. As we
celebrate our thirtieth year as a public company,
we owe many thanks to all those who have
helped write it.
Our story begins with people
Top Row (Left to Right): The Addressograph was an early card embosser for the CB&T credit card division (1970s); TSYS and Synovus stock certificates (1989). Middle Row (Left to
Right): The agreement with Landmark Union Trust Bank launched a new business for CB&T that led to the creation of TSYS (1974); Stan Smith operates the bank’s first computer,
the IBM System/360 (1966). Bottom Row (Left to Right): The faces of a young publicly traded company poised to help shape the future of payments (Rick Covington, Billy Gause
and Troy Woods, 1988); The TSYS Riverfront Campus and corporate headquarters under construction in 1998 was designed by architect Kevin Roche.
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01 | Laying the Foundation
1959 Columbus Bank and Trust (CB&T),
a community bank in Columbus, Georgia,
issues a revolving charge card.
09 | Making it to a Million
1985
TSYS converts more than 1 million accounts
for Michigan National.
12 | Betting the Company on TS2
®
04 | Expanding Beyond Columbus
1974 CB&T begins processing credit accounts
for Landmark Union Trust Bank, St. Petersburg,
Florida, in the company’s first third-party
processing agreement.
05 | The Quarter-Million Mark
1979 CB&T begins processing for Sun Bank
of Orlando, Florida, converting more than
250,000 accounts.
1989 With the largest single capital investment in the
company’s history, TSYS launches TS2, which is still considered
the most advanced payments engine in the industry today.
13 | A World-Famous Client
1990 TSYS signs a deal to support AT&T Universal
Card Services, which would become the most successful
start-up in the industry’s history to date.
16 | Developing Technical Engineers
1990-2003 TSYS begins the Quick Start
08 | Going Public
1983 Total System Services, Inc. , (TSYS)
®
becomes a subsidiary of CB&T, with an initial
public offering later in the year.
program to train programmers. The COMPASS and
ICAPP programs followed.
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MILESTONES
15 Milestones That Shaped Our H
s
25 | Cutting the Apron Strings
1993 TSYS enters Mexico in a joint venture
with a Mexican banking association, and later forms
Total System Services de México, S.A. de C.V.
(TSYS de México ).
®
®
20 | Heading North
2007
TSYS’ parent company, Synovus
Financial Corp. (Synovus), reaches the decision to
spin-off its ownership, enabling TSYS to operate
as an independent company.
28 | Seeking Merchants
1994 TSYS lands its first Canadian client in
2010-2012 After several acquisitions,
1994 — well on its way to becoming a major
international player.
TSYS becomes a full-service direct merchant
acquirer and forms TSYS Merchant Solutions.
21 | Visa and TSYS
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29 | Better Together
1996 Vital Processing Services, LLC (Vital)
2013 TSYS acquires NetSpend Holdings, Inc.
is formed as a joint venture between TSYS
and Visa USA.
(NetSpend®), a major provider of general purpose
reloadable (GPR) prepaid debit cards and related
financial services to more than 68 million underbanked consumers in the United States.
24 | Conquering the World
1999-2013 TSYS opens its first European
office in the UK, opening the door to expansion
across the globe.
31 | & What’s Next
2013 The next 30 years
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17 | Expanding Southward
MILESTONES
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r History — and Will Guide Our Future
Laying the Foundation
Before TSYS became a premier global payments solutions company,
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the bold, forward-thinking and innovative leaders of a small U.S.
community bank set out to create one of the country’s first bank
credit card programs.
Once in a while, two seemingly separate events collide to
team that would modernize the electronic payment process
create something bigger — something that no one could
for the bank and ultimately serve as the catalyst for the
have foreseen. This was the case for Columbus Bank and
formation of TSYS. Together, they developed Georgia’s first
Trust (CB&T) when it introduced Georgia’s second bank
remote ATM terminal as well as some of the first software
credit card in 1959 and then, a few years later, installed
for managing checking accounts, credit cards and other
the second corporate computer in the small river town of
bank operations.
Columbus, Georgia. The bank’s president, a newcomer by
the name of James W. Blanchard, was a young leader who
quickly gained a reputation for energizing and inspiring
team members at CB&T — the second largest bank in
Other small banks took notice of the innovations coming
out of this small southern bank and began purchasing
CB&T’s proprietary credit card services to utilize as part of
their own in-house operations. As the bank’s reputation
Columbus at that time.
for quality customer service and creative risk-taking grew,
Throughout the 1960s and 70s, Blanchard, and later his son
so did its client base. And by 1974, CB&T became the first
and successor Jim Blanchard, harnessed the various talents
bank to be certified with Visa’s forebear, BankAmericard, to
of Butch McVay, Lynn Page, Rick Ussery, Phil Tomlinson
process authorizations and transactions online.
and other young creative entrepreneurs to form a dream
Who was there...
Sherry Fredrick, Associate Director, Finance | 44 years of service
I n her w o rd s : “The TSYS culture we know today was largely shaped by being part of CB&T. Taking care of the needs
of our customers, team members and shareholders are principles that have been passed down from the beginning. We
feel strongly about building lasting relationships, celebrating the worth of the individual and returning an investment
to our shareholders. We know that it’s all about doing the right thing, doing it right the first time, making sure our
i’s are dotted and t’s are crossed, and following the Golden Rule. You can’t say that about just anyone, and we are all
entrusted to preserve and pass these values on to future generations of the company.”
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Above: Phil Tomlinson and Rick Ussery, young innovative bankers, were empowered by CB&T leadership to create a unique bank card processing system (1970s). Bottom (Left to
Right): D. Abbott Turner, CB&T chairman of the board, uses CB&T’s Constant Banker (1972); Stan Smith operates the bank’s first computer, the IBM System/360 (1966); Under the
leadership of James W. Blanchard, CB&T was the second bank in Georgia to offer a credit card (1959).
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Above: A casual dinner resulted in the first processing agreement for CB&T’s credit card department. During the conversation, notes were made on a cocktail napkin.
Top (Left to Right): Butch McVay, head of CB&T’s credit card department, coordinated the meeting with the company’s first client (1974); The agreement with Landmark
Union Trust Bank launched a new business for CB&T that led to the creation of TSYS (1974); Lynn Page, head of CB&T’s operations division, was a forward-thinking leader
and pushed his team to create new and innovative ways of processing remotely (1970s).
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Expanding Beyond Columbus
Columbus played an indispensable role in TSYS becoming a
premier global payment services company. But it was expanding
No one ever thought a casual dinner at the Goetchius
So Butch McVay and Lynn Page quickly offered a solution
House, an upscale and historic restaurant in Columbus,
and outlined the Landmark offer on a napkin. CB&T’s credit
Georgia, would result in a relationship with the first
card unit would begin processing for the bank — not only
bank to outsource its card processing to TSYS. After
doing it faster, better and cheaper, but also transitioning
all, the executives from Landmark Union Trust Bank in
the paper process to an electronic one.
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beyond its hometown that took the company to new heights.
St. Petersburg, Florida, were only in town to discuss
purchasing CB&T’s card processing software. In
the end, they got more than they came for.
This was uncharted territory — no one knew exactly
how it would work, only that it must. Even the phone
company, Southern Bell (known today as AT&T), had
During dinner, the Landmark team confided that they
its doubts about the connections between terminals
were less than pleased with their current provider. The
being feasible. Ultimately, the responsive, innovative
settlement process was painfully slow and completely
and bold thinking that led to the Landmark Union Trust
manual, involving sending paper copies of charge
Bank decision launched an entirely new business for
receipts back and forth, taking up to a week or more.
CB&T and fostered the creation of TSYS.
Who was there...
Ronnie Morefield, Senior Director, Operations | 39 years of service
I n hi s w o rd s : “I began work in the data processing department of CB&T, and when the decision was made to process
credit cards for Landmark, I was very apprehensive. It was all new to us, and was a very different service than we were
used to, with all-new technology. Fortunately, I was led by forward-thinking entrepreneurs who saw the potential.
Under their leadership and direction, the card business continued to grow. Once we realized how prosperous this
new endeavor could be, a decision was made to create TSYS, which centered around credit card processing services.
As they say, the rest is history.”
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The Quarter-Million Mark
Imagine if you took your biggest accomplishment and multiplied
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it fivefold. When CB&T’s bankcard department signed a new
big-name client in 1979, the team’s bold thinking and innovative
spirit were put to the test.
When Sun Bank of Orlando, Florida (known as SunTrust
descriptions for the requested manuals — never falling
today), signed with CB&T as its card processor, it was one
short of the client‘s expectation.
of the most well-known and well-respected names in the
banking industry. Sun Bank had more than 250,000 credit
card accounts, a staggering number in 1979.
Over the years, the relationship went so well that when
it came time to appoint a new member to the Visa board
in 1984, Sun Bank nominated and successfully lobbied
Five times larger than the portfolio of any existing client,
for the election of Jim Blanchard, the then-president
it pushed the CB&T bank card team to think creatively
of CB&T Bancshares (today known as Synovus), as the
and establish new procedures to migrate a portfolio
southeastern representative. All of a sudden, a regional
of this scale.
community bank from Columbus, Georgia, was taking a
When Sun Bank requested a training manual, none existed,
and Phil Tomlinson and Pam Humber had to think on their
feet. Along with their creative and dedicated team, they
worked day and night to cobble together screenshots and
seat at the table with the biggest names in the banking
industry. In addition to garnering new business for the
department that would become TSYS, it also gave CB&T
the credentials and track record of servicing one of the
country’s largest portfolios.
Who was there...
Pam Humber, Retiree | 37 years of service
I n her w o rd s : “At the time of the Sun Bank conversion, we had less than 10 programmers, all of whom wore
many hats. We wrote our programs on paper coding sheets and then took them to the workroom where we had
five workstations to key them in. There was no way to test that the conversions would work. And at the time, our
software was limited to a two-digit bank number when we needed three or greater. All of the processes used
during the conversion were very rudimentary compared to today, but our team worked hard and played hard
together. We had a great relationship with Sun Bank and that trumped all the technical hurdles we encountered.”
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Above: Sun Bank offices in Orlando, Florida (1970s). Top to Bottom: A Sun Bank card being embossed (1980s); CB&T continued to modernize its operations with the latest
technology to provide better products and services to its customers (1980s).
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Above: The CB&T credit card and data processing building, now known as the South Center, became the corporate headquarters for TSYS (1983). Top (Left to Right): The first
TSYS annual report — a sign of many good things to come (1983); NYSE Specialist Peter Haas (right) welcomes Rick Ussery to the floor of the Exchange on the day TSYS stock
is offered for trading under the symbol “TSS” after several years of trading on NASDAQ (1989); Rick Ussery and Phil Tomlinson on a tour of the major financial centers in
North America and Europe to generate investor interest in TSYS (1983).
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Going Public
Can you imagine if the company that signed your paycheck was
named TSSI? It almost was — until the night before TSYS became
It had been nine years since the first client was signed,
In January 1983, TSYS became a separately incorporated
and the CB&T bankcard division, the forebear to TSYS,
company that was wholly owned by CB&T. Rick Ussery, a
was a very profitable asset to the bank. However, investors
technology veteran, was named president of the company at
encouraged the bank to incorporate its card-processing
age 34, and Phil Tomlinson, a 35-year old businessman from
division as a subsidiary of CB&T. Initially, this all-new company
the sales side, was named executive vice president. There
was set to be offered on the NASDAQ exchange under the
were just 128 team members serving 62 financial institutions
symbol “TSSI,” an abbreviation of Total System Services, Inc.,
in 24 states, comprising 2 million accounts.
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a public company.
and the trade name and logo were meant to match the ticker
symbol. However, lawyers found — literally the night before
the company was to go public — that “TSSI” was already the
registered NASDAQ symbol of another company. In a highpressured but focused session of brainstorming, Rick Ussery
and Phil Tomlinson came up with a new symbol — “TSYS.”
Rick Ussery nervously called Jim Blanchard, head of CB&T
Bancshares (today known as Synovus) at the time, to tell him
what had happened. Happily, Blanchard said he was actually
relieved — he had been concerned for some time that if
Later in the year, TSYS conducted an initial public offering
(IPO) and decided to sell 18 percent of its stock to the public.
Ussery and Tomlinson were put to the test, taking a two-week
tour of all the major North American and European financial
hubs, making approximately 10 presentations per day.
Their hard work paid off — in August 1983 the IPO netted
approximately $7 million from shares sold, up from initial
projections of $5 million. Today, TSYS trades on the New
York Stock Exchange (NYSE) under the symbol “TSS.”
“TSSI” was used, everyone in the industry would call the
company “TISSY.”
Who was there...
Cindy Keller, Director, TSYS Managed Services
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| 43 years of service
I n her w o rd s : “It was an exciting time when we formed TSYS. We had already processed for several banks, so there
was a great sense of pride when we raised that TSYS sign on the South Center building. We were a close-knit team that
played multiple roles and worked hard. Though the hours were long, we didn’t mind, because we sensed we were on
the cutting edge of something great — something much bigger. Today, we haven’t even scratched the surface of our
potential. I have no doubt the next TSYS generation will take us further.”
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Making it to a Million
When TSYS was challenged with its first conversion of more than
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1 million accounts, it proved that it is a company centered on
service. The conversion of Michigan National is a testament that
TSYS people do whatever it takes to get the technology right.
After a little more than one year as a public company,
Michigan National ultimately selected TSYS on the basis
TSYS signed a contract with Michigan National, a part of
of its strong relationships and superior technology. After
Bank of America today. With more than 1 million accounts,
taking many trips back and forth to Lansing, Michigan, a
the conversion was unprecedented for TSYS.
powerful bond with the bank developed, the platform was
During the very first meeting between TSYS and the
Michigan National team, the bank presented 24 items
they expected from their processing relationship. TSYS
could deliver only one. But, as usual, the team turned a
liability into a win, using creative problem solving and
modified and TSYS delivered. The success with Michigan
National gained TSYS a reputation for reliability within
the payments industry. If TSYS could convert Michigan
National, so the logic went, they could handle any
scale conversion.
bold thinking to build the capabilities to deliver the
other 23 requests.
Who was there...
Pam Hendrix, Director, Business Systems | 36 years of service
I n her w o rd s : “We knew converting Michigan National would be a major project because of its 1 million accounts,
and the extensive development meant many trips to Lansing, Michigan. On one trip, we decided to lighten things up
a little. The night before a meeting, Connie Dudley, Pam Humber and I went to the store and bought funky sunglasses.
The next morning, just as we arrived to the meeting, we put the glasses on and told everyone that we were ready to
get started. At first, they looked at us like we had lost our minds, but of course everyone began laughing. This was
just the beginning of a series of pranks and fun throughout the project. We made many good friends and even
greater memories.”
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Above: A talented and ambitious management team (Left to Right: Bill Pruett, Colleen Kynard, Mary Stewart, John Boyd and Bill Mainor, 1985). Bottom (Left to Right): Computer
operations at the South Center (1985); Greg Pridgen, shift manager of the computer room at the South Center (1985); After converting Michigan National, TSYS became known
as the “smart choice” (1985).
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Above: Ken Tye led the biggest IT development project in the payments industry — the design and creation of TS2, which launched in 1994 after five years of work. Bottom (Left):
While the system was still in development, TSYS introduced TS2 at an ABA National Bank Card Conference in Lake Buena Vista, Florida. To show the company’s confidence in the
revolutionary new system, TSYS enlisted the help of legendary NBA Hall of Famer Larry Bird — for the TS2 preview (Left to Right: Troy Woods, Joe Bowers, Gaylon Jowers, Steve Jones,
John Boyd, Phil Tomlinson, Larry Bird, Amy Smith, Dan Charron, Deborah Hanks, Matt Jones, Colleen Kynard and Walter Miller, 1992). Top (Right): TSYS team members across the
company celebrated the launch of TS2 (1994).
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Betting the Company on TS2
When TSYS was challenged with building a processing platform
unlike anything the industry had ever seen, the naysayers said
territory. These predictions didn’t scare the TSYS team — in fact,
they motivated them.
While other companies had made attempts at this
herculean task — creating a next-generation platform
that accommodated product changes, utilized rich
cardholder data and offered unparalleled customization
— none had yet been able to succeed.
TSYS had reached 22.5 million accounts, and that number
was growing by the month. It became clear that the company
needed a strong vision to create an all-new platform that
encompassed the needs of both card issuers and consumers.
While other competitors were tacking functionality onto their
legacy systems, TSYS took a different route and built from
the ground up.
In 1989, $25 million was allocated for the project, which was
expected to take three years. Ken Tye became the project
director solely responsible for building the system. Under his
direction, the core TS2 team created a formal project plan
that encompassed stacks of pages, spelling out all the steps
required and the associated costs. They gathered “wish lists”
from all over the world, even venturing out to clients’ call
centers to listen in on the customer experience.
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the project was too big, too risky and too much of an uncharted
The actual costs for the program were well north of $100
million, with nearly five years of effort. In the end, TSYS
had created a state-of-the-art card processing system, leapfrogging the company ahead of its competitors by decades.
As soon as the platform was operational, banks were asking
to be converted, including big names like Bank of America.
By this point, it was known throughout the industry that
competitors could not beat TSYS on technology or service.
Who was there...
Tony Hodge, Executive Vice President, North America IT | 30 years of service
I n hi s w o rd s : “Our team knew we couldn’t simply replicate what we did for TS1® and expect to successfully complete
TS2 — it would take more innovation, more hard work and more creative problem-solving. One day when we were at a
crossroads in the development process, a bunch of us were feeling anxious about an upcoming system test. As we were
eating lunch, we noticed a sporting goods store with the Nike slogan ‘Just Do It’ hanging in the window. Funny enough,
that slogan helped us get past any mental roadblocks, and from that day forward, we decided to stop overthinking
it and get the work done. Every Friday, we wore our ‘Just Do It’ shirts, which created excitement and pulled everyone
together across the finish line.”
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A World-Famous Client
Sometimes challenges carry enough risk to make you think twice,
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but enough reward to truly put you on the map. When a major
client approached TSYS to support its all-new credit card launch,
such an opportunity was born.
The then-TSYS board chairman Jim Blanchard received a
Specifications were developed over the previous two
phone call that gave him pause. The person on the other
years, and AT&T promised that after partnering with them,
end of the line said that he represented a large company
the TSYS brand would be synonymous with excellence.
— but not a bank — that wished to enter the credit card
TSYS would have only 10 months to get ready for the
business, and asked if TSYS would be interested in
onslaught of new accounts. The project included building
partnering to produce, issue and process its cards.
a state-of-the-art data center known as the North Center
Even though the company’s name was a secret, Blanchard
to handle the influx of call volume.
expressed interest and invited them to visit the TSYS
When the new card was introduced during the Academy
headquarters. The next week, the team was assembled,
Awards, the demand was overwhelming and the volume
and after several more meetings, the company’s identity
of phone calls so large that it disrupted telephone service.
was confirmed. AT&T was looking to throw its hat in the
During the first year of processing, TSYS netted 17 million
ring with an all-new credit card that had no annual fees
new accounts, eventually growing to 35 million accounts.
and a simple, phone-based application process. Known
Over a three-year period, the card contributed more than
as the AT&T Universal Card, the card was scheduled to
$300 million in annual income to TSYS.
be unveiled in a television commercial in March 1990,
during the Academy Awards.
Who was there...
Beth Wyatt, Senior Client Service Analyst, Implementation Services | 28 years of service
I n her w o rd s : “AT&T was a world-class customer and set the bar for other clients that came on board. In terms of quality
of service, they truly made us a better company — there were no excuses and no exceptions. So many of our standards for
clients today can be directly attributed to our relationship with AT&T. For example, we didn’t report operational information
to clients prior to AT&T. Our business reviews originated with AT&T. We didn’t even have service-level agreements before
AT&T. Because of AT&T, we started running Card Production 24x7 and opened our first help desk. They truly gave to us as
much as we gave to them.“
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Above: The North Center was built to accommodate the primary data processing center, facilities for statement and microfiche production, mail operations, and the
purchasing and central supply departments (1991). Top (Left to Right): The new statement production operation at the North Center in full swing (1991); Taking on a
client like AT&T — whose name was synonymous with the highest quality service standards — meant TSYS had to ensure delivery of the same level of quality. Photo
Courtesy of AT&T Archives and History Center (1990); The purchasing and supply warehouse at the North Center — another sign of expansion and progress (1991).
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Above: Columbus College professor David Woolbright, one of the main instructors of the ICAPP program, teaches future TSYS team members (1996). Top to Bottom: TSYS’
Georgia Oglethorpe Award Application Team: Susan Wirt, Kathy Allen, Lisa Dasinger, Terri Smith, Victoria Taylor (Executive Director, Georgia Oglethorpe Award), Greg Stalnaker,
Jon Long and Gene Jacques (1999); The Oglethorpe Award is Georgia’s highest level of recognition for organizational performance excellence (1999); ICAPP students celebrate
their graduation from the program (2000).
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Developing Technical
Engineers
Company executives began working with local community
What followed in 1992 was COMPASS, a joint effort
and government partners to build the talent pool from
between TSYS, Columbus College (now Columbus State
the ground up. All agreed that TSYS would help transition
University) and IBM. TSYS wrote the curriculum, instructors
Columbus from its past as a mill-and-factory textile hub to
from Columbus College taught classes, and IBM helped
a technology-centric town.
create a state-of-the-art computer lab. Tuition loans were
Jimmy Yancey, vice chairman of Synovus at the time,
envisioned and orchestrated the conversion of Georgia’s
1990-2003
The demand for TSYS solutions was growing, and the company was
faced with a challenge: a technical resource shortage. TSYS needed
to recruit more technical engineers who could build the solutions
banks were seeking. As usual, the TSYS team was eager to dream
up creative solutions in order to balance supply with demand.
repayable after working at participating companies for
two to three years.
Quick Start program to educate programmers for TSYS.
Georgia’s then-Governor Zell Miller put resources behind
Normally used to train blue-collar workers for new
TSYS to help recruit and train additional programmers.
Georgia industries, Yancey’s adaptation of Quick Start
What resulted was the Intellectual Capital Partnership
focused on future white-collar workers for TSYS. While
Program (ICAPP), where each student would receive a
there were initial doubts about finding enough qualified
state-backed loan, repayable by working for four years in
applicants for the 90 positions available with TSYS, more
a computer-related job in Georgia. The program was a
than 1,200 people applied to be tested. The enthusiasm
leading national model for business-university cooperation.
from the community was clear.
Georgia established itself as a financial technology hub
in the United States.
Who was there...
Caroline Walton, Technical Director, IT | 23 years of service
I n her w o rd s : “I was working part time at Walmart in Phenix City, Alabama, when my mother mentioned
hearing about positions opening up at TSYS. Taking a chance, I decided to take the aptitude test to see if I
qualified for Quick Start. When I found out I was one of the lucky people selected, I was ecstatic and knew
it was a once-in-a-lifetime opportunity. I didn’t think I‘d last five years, but 23 years later, I am still learning
something new every day.”
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Expanding Southward
A new sense of credibility and legitimacy was gained when
TSYS expanded its now-thriving U.S. processing services across
the Mexican border. As its first joint venture, the partnership was
the first step of TSYS’ international footprint.
In 1993, TSYS initially partnered with 11 Mexican banks
two weekends. The largest conversion in Mexican history,
in a joint venture focused on payment processing services,
it was an undeniable success and included one-third of
and card and statement production for Latin American
all the Visa and MasterCard business in Mexico.
financial and non-financial institutions. Upon hearing of
the partnership, seven additional Mexican banks signed
up for the platform. TSYS established a 49-percent stake
Despite the unpredictable nature of operating for the
first time in a foreign country, taking the risk to enter
Mexico was pivotal for the company’s international
in the joint venture.
expansion. Experience in the country gave TSYS a
Plans were made to build a 52,000-square-foot facility in
successful track record in dealing with another language,
what had once been a goat field near Mexico City, selected
a different currency and different tax practices. When
for its proximity to the airport and reliable shipping service.
TSYS entered Canada and the UK several years later,
A large satellite dish provided remote communication
it pointed to Mexico as an example of its ability
to Columbus, Georgia.
to conduct business and to build a support center
Then in 1995, after thoughtful planning, all 18 banks and
in a foreign country.
4 million cardholders were converted simultaneously over
Who was there...
Barry Carswell, Senior Internet Software Developer, IT | 20 years of service
I n hi s w o rd s : “The challenges of the Mexican conversion came at all levels. Communicating deliverables,
conveying education material and reviewing legal agreements across the language and cultural barriers represented
a significant learning experience for TSYS. Apart from the differences in language and business culture, each of the
18 banks was very different in terms of their target customers, bankcard portfolios, internal workflows and technical
infrastructure. The experience didn’t just raise the bar for the potential complexity of a conversion, but also raised
awareness and genuine confidence that TSYS’ products, cumulative experience and team-oriented work ethic
could succeed on the international stage.”
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Above: TSYS de México’s 52,000-square-foot, state-of-the-art facility in Toluca, Mexico (1995). Bottom (Left to Right): Calvin Stubbs, Pam Humber and Allen Byers conduct
pre-conversion activities for the banks in Mexico (1995); The original TSYS de México management team (1995); Suzanne Springer and Ann Garrett pose under the construction
sign for the new TSYS de México facility in Toluca, Mexico. The site was once a goat field (1994).
18
Above: One of the many Canadian Tire Financial Services (CTFS) office locations. CTFS is a subsidiary of Canadian Tire Corporation, one of Canada’s major retailers, and
a TSYS client to this day. Top (Left to Right): Canadian Tire’s beloved model cars commemorate the company’s roots and serve as tokens of appreciation; A special reception was
hosted by the U.S. Consulate in Toronto to introduce the Canadian banks to the TSYS team. Attending were (Left to Right) the U.S. Consul General to Toronto, Jim Blanchard,
Gordon Giffin (U.S. Ambassador to Canada) and Rick Ussery. (1997); Bill Hunt presents an award to Doug Morris, assistant vice president at CTFS, in honor of the company’s
tenth anniversary processing with TSYS (2008).
19
Heading North
With a full year of international experience, TSYS now had a track
record of adapting to a different culture and new ways of doing
has unique requirements. To become a major international player,
they’d need global solutions with a local focus.
While relationships were obviously important in the
spreading the word to new prospects. After a successful
United States and elsewhere, TSYS executives found that
agreement and conversion with one bank, it was not
the strong, stable banks in Canada placed a premium on
unusual to quickly get a call from another.
1 9 9 4
business. However, the team would soon learn that every country
personal customer service. Despite having to become
versed in a new currency and new language, TSYS could
deliver with ease when it came to good old-fashioned
TSYS landed its first major Canadian client in 1994, and in
1998 it converted the country’s most shopped retailer with
a ubiquitous presence throughout Canada. Utilizing a
relationships.
strong history of deep relationships in Canada, the TSYS
The executives also found that the Canadian banks
name has become synonymous with quality throughout
were not only forthcoming with TSYS, but also with one
the payments ecosystem. Today, TSYS holds a more than
another. And at that point, it became clear there was an
83-percent share of the consumer credit card accounts on
opportunity to sell to specific banks, and those banks
file in the country.
would in turn become TSYS’ biggest supporters when
Who was there...
Brian Stucky, Account Director, Account Management | 16 years of service
I n hi s w o rd s : “One of the most enduring memories I have from the early Canadian days comes from the kick-off
meeting in Toronto for our first Canadian client migrating to TS2. There were probably around 100 bankers from all
across the country and from a variety of disciplines — IT, business, operations, marketing, etc. This was late 1997 and
the movie ‘Mission: Impossible’ was quite popular. The meeting facilitators would blare the theme music through
speakers, and it would echo throughout the hotel. At the end of the three days, I never wanted to hear that music
again, although it was inspiring for the job we were about to take on.”
20
1 9 9 6
Visa and TSYS
For the first part of TSYS’ history, the emphasis was on providing
the best services possible for banks to deliver credit card programs
to their customers. This strategy, though successful, still left another
opportunity to be explored: helping banks’ business and merchant
customers accept card payments. Eventually, when the opportunity
came to partner with a major player in the merchant space, TSYS
knew the time was right.
In 1996, TSYS created Vital, a joint venture with Visa USA.
In naming the company, they took the first two letters of
The new company merged Visa’s authorization and data
“Visa” and the last three of “Total” and became Vital.
capture platform with TSYS’ clearing and settlement system
to provide solutions for both financial institutions and
The 50/50 joint venture flourished, becoming the largest
third-party payments processor to merchant acquirers.
independent sales organizations.
In 2005, TSYS purchased the remaining 50 percent
But first, the agreement had to be outlined. Both TSYS
from Visa to make it a wholly owned subsidiary.
and Visa kept their intentions for a joint venture secret —
The new company was rebranded as TSYS Acquiring
in fact, neither group sent representatives to the other’s
Solutions®, with a focus on providing specialized services
headquarters in Columbus, Georgia, or Tempe, Arizona,
to small- and medium-sized businesses through their
respectively. Instead, they dubbed their negotiations
banking relationships.
“Project Runway” and met at a hotel near the Atlanta airport.
Who was there...
Moice Dixon, Technical Analyst, TSYS Acquiring Solutions | 19 years of service
I n hi s w o rd s : “Vital was one of our first TSYS expansions outside of issuing and across the broader payments
lifecycle. It felt like a start-up in many ways, which was exciting as a team member. We had two offices — Tempe,
Arizona, (made up of prior Visa employees) and Columbus, Georgia, (made up of prior TSYS team members). This
led to some great collaboration, and we were able to develop our own new methods and be creative as we solved
new business problems. Despite the distance between us, everyone was very “hands-on,” as we were a relatively
small team charged with a huge job function and responsibility. All of us felt a tremendous sense of pride and
ownership as part of this new company that was changing the industry.”
21
Above: Vital was a joint venture between Visa USA and TSYS, and a combination of both names (1996). Top (Left): After the New York press conference announcing the joint
venture with Visa USA, Rick Ussery (Center) and Carl Pascarella, Visa USA president & CEO, share additional information with Jeffrey Kutler (Left), senior technology editor,
American Banker (1996). Bottom (Right): Bev Wells, Vital president (retired) and Troy Woods (2005).
22
Above: The TSYS Europe Data Center in Knaresborough, UK (2004). Bottom (Left to Right): TSYS’ corporate offices in São Paulo (2005); Attending the CUP Data Board meeting
in Shanghai — (Back Row) Jon Wheeler, Charles Todd, Gaylon Jowers, Bruce Bacon; (Front Row) Dave Duncan and Jim Lipham (2006); Celebrating the partnership between
TSYS and RBS — as well as a victory at St. Andrews, one of Scotland’s most hallowed and cherished cultural locales — (Left to Right) Kelley Knutson, Chris Sullivan of RBS,
London businessman Surinder Aurora and Gaylon Jowers (2010).
23
Conquering the World
In 1999, TSYS opened its first European office in the UK with
payments network sanctioned by China’s central bank, to
just a single team member. While the biggest competitor
form a processor named China UnionPay Data Services
had more than 1,000 employees in the region, it was
Co., Ltd. (CUP Data).
the lone TSYS team member, Bruce Bacon, who landed
the business of the major financial institution National
Westminster Bank. When an acquisition of the bank by the
Royal Bank of Scotland (RBS) was announced the next day,
both banks eventually underwent a conversion away from
a competitor to become TSYS’ first clients in Europe.
Then TSYS pursued new relationships on the continent.
In 2009, Deutsche Bank became the first German client
— an association that has given TSYS credibility in other
In 2006, TSYS acquired Card Tech Ltd., a London-based
company that served approximately 190 small- and mid-
1999-2013
It’s fun to dream. And it’s certainly helpful to make plans. But some
times, you simply have to put your feet to the pavement and see
what unfolds. Expanding the TSYS footprint beyond North America
required perseverance and a willingness to go the extra mile.
sized financial institutions on four continents. This meant
TSYS went from serving clients in just a handful of countries
to having an international presence in more than 75.
Things came full circle in 2009 when an old friend of
Bacon’s called him to say he had been hired by Banco
Carrefour S.A. (Carrefour) in Brazil, the second largest
retailer in the world, and had immediately thought of TSYS.
European ventures.
TSYS won the business and today it continues to pursue
China was also a desired market for TSYS, but had many
international growth by offering solutions fit for a global
barriers to entry. In 2005, TSYS formed a joint venture
market but customized for local characteristics.
with China UnionPay (CUP), the only major Chinese
Who was there...
Dennis Jones, Executive Vice President , Business Operations | 2 years of service
I n hi s w o rd s : “As a former international client, I can tell you that what this company has is very special.
There is a personality, an identity, a belief and a behavior that is uniquely TSYS. Phil Tomlinson calls it the
‘TSYS secret sauce,’ but I don’t think you can describe it. If you didn’t have it, you couldn’t invent it. There
is a desire to get it right, be honest, be open and do the right thing for the client.”
24
2 0 0 7
Cutting the Apron Strings
Newfound independence often brings mixed emotions — there is
a sense of limitless possibility and excitement that goes along with
charting your own course. When TSYS was spun-off from Synovus
at the end of 2007, it was a bold and courageous move designed
to allow TSYS to fulfill its maximum potential by growing within
the payments industry.
From the time TSYS went public in 1983, it was known
Synovus’ 81-percent majority ownership. No one could
that there was the possibility that the company would
have anticipated that within a year, the world would face
eventually spin-off from Synovus (formerly CB&T
the largest financial crisis since the Great Depression.
Bancshares, Inc.) Between both companies, there
was a shared understanding that a spin-off might
one day be the right move for a growing financial
On December 31, 2007, the apron strings were officially
cut: TSYS became a fully independent, publicly traded
company. Carrying with it the deep history and unequaled
technology company.
culture from Synovus, TSYS gained the right to shape its
Synovus had provided TSYS with a strong foundation,
future and fulfill its highest potential.
experienced leadership and a ‘culture of the heart’ that
set it apart from its competitors. However, TSYS’ ability
to grow its business through acquisitions was limited by
Who was there...
Lisa Dasinger, Director, Business Support Services | 19 years of service
I n her w o rd s : “Spinning TSYS out from Synovus mirrored in many ways the emotional roller coaster a young adult
experiences while preparing to go off to college. There was the anticipation of being on your own, the excitement of
making your own decisions, and the opportunities you might forgo if you stayed home. Along with this, there was also
the uncertainty of leaving the security of your parents, the question of if you were prepared enough, the anxiety of leaving
the support of life-long friends, and the fear of the unknown. Fortunately, we were well-nurtured and well-prepared to
leave the nest because of the confidence and strong culture Synovus instilled in us. And we haven’t looked back.”
25
Above: News headlines in the Columbus Ledger-Enquirer announcing the decision by Synovus to make TSYS an independent company (2007). Top (Left to Right): TSYS and
Synovus stock certificates (1989); Phil Tomlinson and Synovus CEO (retired) Richard Anthony shake hands and celebrate the announcement of the spin-off after the Synovus
leadership meeting (2007).
26
Above: First National Bank of Omaha’s corporate offices (2010). Top to Bottom: The acquisition and renaming of FNMS placed the TSYS brand squarely in the direct acquiring
space (2011); In Omaha, soon-to-be TSYS team members gather to celebrate the announcement of the new partnership (2010) .
27
Seeking Merchants
bankcards behind-the-scenes for issuers and acquirers. In 2010,
it went beyond processing to become a full-service direct merchant
acquirer, building relationships directly with merchants and
taking the company to new heights.
Entering the direct merchant acquirer sector in a
major way, TSYS greatly expanded its scope in 2010 by
launching a joint venture with First National Merchant
Solutions (FNMS), which was ranked the tenth largest
merchant acquirer in North America. Based in Omaha,
Nebraska, FNMS had a 57-year history in the acquiring
business. TSYS initially controlled 51 percent of FNMS,
with the original holding company, First National Bank
of Omaha, possessing the minority interest.
TSYS took its acquiring strategy to the next level in
January 2011 by purchasing the remaining 49 percent
of the company and rebranding FNMS as TSYS Merchant
Solutions. A milestone moment in TSYS’ history, the
purchase turned the company from a “one-trick pony”
to a full-service offering for the first time — a strategic
turning point for the overall diversification strategy.
In May 2011, TSYS purchased Atlanta-based TermNet
Merchant Services (TermNet), with more than 25 years of
experience in the business, bringing it into the fold of TSYS
Merchant Solutions. In just a few months, these two backto-back acquisitions meant that TSYS had now secured
relationships with nearly 424,000 merchants. In 2012, TSYS
also acquired ProPay®, which provides simple, affordable
payment solutions for smaller merchants, and formed a
joint venture with Central Payment Co., LLC (Central
Payment®), a direct merchant acquirer with a strong
independent sales agent channel.
2010-2012
For many years, TSYS did one thing very well: processing
Who was there...
Cory Mann, Director, TSYS Merchant Solutions | 13 years of service
I n hi s w o rd s : “The biggest change overall was the high level of energy and excitement that came with the
move to TSYS. It was quite the change — we were going from a company that was well-established as a privately
held community bank to being part of a publicly traded, world-leading payments technology provider. The business
that was once a nice product line for the bank was now a major growth area for TSYS.
The direct acquiring business demands that we think about customers in terms of thousands and hundreds of
thousands. The high energy level and problem-solving mindset that are required to succeed in the direct acquiring
business will continue to drive innovative thinking and growth.”
28
2 0 1 3
Better Together
Some things are just better together. When you combine a leading prepaid
provider with one of the most well-respected payments companies in the
industry, the result is greater than the sum of its parts.
In July 2013, TSYS acquired Austin, Texas-based NetSpend,
serving 9 percent of the unbanked market through
a major provider of general purpose reloadable (GPR)
more than 62,000 retail locations. NetSpend is also
prepaid debit cards and related financial services to more
the #1 provider in the U.S. of GPR and Paycard based
than 68 million underbanked consumers in the United
on dollar spend.
States. After introducing its People-Centered Payments
initiative in 2012, it was a natural fit for TSYS to acquire
a company whose mission centers on empowering
consumers with the convenience, security and freedom
Prepaid represents the fastest-growing sector of
payments, with expected growth of 20 percent
over the next five years. With the acquisition, TSYS
offers complete payment solutions to consumers,
to be self-banked.
businesses, financial institutions, retailers and
After years of acquisitions, joint ventures and other
governments. By adding NetSpend, TSYS gained
partnerships that supported TSYS’ expansion into the
a leadership team with deep prepaid experience
merchant acquiring segment, the NetSpend acquisition
and a differentiated product offering, helping the
was a transformational event for TSYS. NetSpend is a
company to meet its strategic goal of diversifying
household name and engages directly with consumers,
its business and expanding its role within payments.
Who was there...
Cal Holman, Senior Vice President, IT, NetSpend | 30 years of service
I n hi s w o rd s : “NetSpend is the youngest and newest member to the TSYS family, and I was very excited to re-engage
with the TSYS team as many of them were the same people I worked with when I began as a programmer trainee in 1984. The team at NetSpend had many questions around the cultural fit of the two companies. NetSpend, as a smaller company,
is fast paced and very nimble. Having worked at TSYS for 18 years, I knew the two companies would complement each
other. Both place an emphasis on talent, quality and taking care of people. I am happy to be back with TSYS and look
forward to working with a strong technical team and sharing best practices.”
29
Above: (Left to Right) Chuck Harris, Dan Henry and Troy Woods, showing team spirit and pride as they celebrate NetSpend becoming a part of the TSYS family (2013).
Bottom (Left to Right): The iconic napkin from dinner on the night of the acquisition announcement (2013); NetSpend’s headquarters in Austin, Texas; News of the
NetSpend acquisition spread quickly in the financial world, as well as in the Columbus, Georgia, and Austin, Texas, communities (2013).
30
& W H AT ’ S N E X T
30 years &
a story that lives on through you.
Sometimes we pass by a milestone without much fanfare, because
we are so focused on pushing to reach the next horizon. It’s easy
to forget to stop and enjoy the moment.
The next 30 years hold great promise
As our history as the world’s leading
for TSYS, as we continue to reinvent
payments solutions company continues
ourselves, push forward and create the
to unfold, these stories will endure and
next generation of technology that allows
new ones will be written, because they put
for innovation in new products with new
people at the center of payments. And
partners. We will continue to grow our
our people — our team members, clients,
unmatched culture, in which every team
shareholders and friends — are the ones
member strives to delight our customers
who help write them.
and enhance their experience, because we
believe payments should revolve around
people, not the other way around.SM
Our story continues with people
© 2013 Total System Services, Inc.® All rights reserved worldwide. Total System Services, Inc and TSYS® are federally registered service marks of Total System
Services, Inc., in the United States. Total System Services, Inc., and its affiliates own a number of service marks that are registered in the United States and in
other countries. All other products and company names are trademarks of their respective companies.
Top (Left to Right): The TSYS Europe Data Center in Knaresborough, UK, provides cutting-edge technology in a quaint village setting (2004); News of the NetSpend acquisition
spread quickly in the financial world, as well as in the Columbus, Georgia, and Austin, Texas, communities (2013). Middle (Left to Right): The North Center was built to
accommodate the primary data processing center, facilities for statement and microfiche production, mail operations, and the purchasing and central supply departments (1991);
The new statement production operation at the North Center in full swing (1991). Bottom (Left to Right): After the New York press conference announcing the joint venture
with Visa USA, Rick Ussery (Left) and Carl Pascarella, Visa USA president & CEO, share additional information with the media (1996); The CB&T credit card and data processing
building, now known as the South Center, became the corporate headquarters for TSYS (1983).
OUR HISTORY
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