TSYS Further Expands International Presence; Signs Scotiabank of Canada for Caribbean Credit Card Processing
Caribbean Deal Encompasses Multiple Countries and Currencies
Columbus, Ga., Feb. 9, 1999 — Total System Services, Inc.® (TSYS®) (NYSE: "TSS") today announced the signing of a multi-year agreement to provide credit card (cardholder) processing services to Scotiabank for its Caribbean accounts in 15 countries. TSYS’ international platform allows it to process multiple currencies for multiple countries. Currently, TSYS processes commercial card accounts for Scotiabank in Canada.
Scotiabank’s Caribbean affiliates’ accounts will be converted in five phases. Phase one of the five-phased conversion was completed last weekend, and it is anticipated that the remaining phases will be completed by June, 1999. This agreement positions TSYS to service countries, including: Anguilla, Antigua, Bahamas, Barbados, British Virgin Islands, Dominica, Grand Cayman, Grenada, Jamaica, St. Croix, St. Kitts, St. Lucia, St. Thomas, St. Vincent and Trinidad.
TSYS President Philip W. Tomlinson said, "Scotiabank has a sterling reputation in the industry, and we are delighted to expand our relationship with them into the consumer card area. They have enjoyed the benefits of our industry leading Commercial Card System, and we are delighted to partner with them in the credit card arena. We look forward to sharing the innovative and technologically sound solutions of THE TOTAL SYSTEM® and to a long, mutually beneficial relationship."
"The Caribbean is an important region for our company’s international expansion," commented H. Lynn Drury, Group Vice President, TSYS International Services Division. "We can service a multitude of countries with a proven processing platform that has the capability of meeting the demands of our international clients."
David K. Gill, Scotiabank Senior Vice-President of Systems Development and Support, commented, "This partnership with TSYS creates a win-win situation for Scotiabank, our clients and TSYS. We are excited about the solutions that TSYS offers our clients and look forward to expanding our relationship in other regions of the world."
With over $233 billion in assets and approximately 42,000 employees, Scotiabank is one of North America’s largest financial services companies. Scotiabank has a greater international presence than any other financial institution in Canada with over 1,700 branches and offices in more than 50 countries on five continents. Its Web site can be found at http://www.scotiabank.ca.
TSYS (www.totalsystem.com) is one of the world’s leading information technology processors of credit, debit, commercial and private-label cards. An 80.8% owned subsidiary of Synovus Financial Corp. (NYSE: "SNV")(www.synovus.com), TSYS serves card-issuing institutions throughout the United States, Puerto Rico, Canada and Mexico. Creating innovative processing solutions, TSYS makes it possible for more than 117 million cardholders to use their cards and enables card-issuing institutions to profitably compete and better serve their customers through our world-class people, technology and service.
Contacts:
Danita Gibson-Lloyd
Corporate Communications Manager
Total System Services, Inc.
ph. (706) 649-5578
:dgibsonlloyd@totalsystem.com
Catherine Hudon
Public Affairs
Scotiabank
ph. (416) 866-3703