July 29, 2009
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News: TSYS Winning Awards
A major credit card electronic payment processor, Total System Services, Inc. (TSYS) based out of Columbus, Georgia, says their marketing strategies are paying off. The company reported they have significantly increased their customer base and have won several awards including "Most Excellent Software Products" by the Shanghai Software Industry Association and "Best Retail Payment Project Award 2009." The firm owns nearly 45% of China's UnionPay Data Services (CUP Data). The two have partnered to secure credit card payment processing contracts with Yaodu Credit Cooperative, Shandong Provincial City Commercial Banks Alliance, Yunan Rural Credit Union, and Guangxi Beibu Gulf Bank. Cup Data which started up in 2003 is a fairly new player in the business and yet has grown to become China's largest third-party credit card payment processor. Additionally, they are the only payment processor network approved by the Asian's central bank, People's Bank of China.
The credit card processor, Total Systems Services, Inc. announced second quarter revenue of $412.0 million up 1% from first quarter. In a press release, the company indicated that foreign currency exchange rates resulting from credit card purchases overseas, reduced earnings by $17.8 million otherwise the total revenue would have been $429.8. The company also announced that basic earnings per share (EPS) were 27 cents for the second quarter while net income increased by 5.2%.
TSYS and CUP Data have also secured a prepaid credit card processing agreement with Kargo Card, a Malaysia based electronic retail marketing firm who will be offering reloadable gift cards in the Asian retail market. TSYS is a global corporation and has offices throughout the U.S. and in the Asian Pacific. Their portfolio consists of over 300 global customers and has relationships with more than 10 of the world's largest banks. The company maintains a positive outlook as it continues to function in the Chinese market which has remained relatively stable compared to the weak U.S. economy.