TSYS® to Continue Processing the Circuit City® Credit Card
Retains Relationship with Longest-standing Retail Client
Columbus, Ga., May 13, 1999 - Total System Services, Inc,® (TSYS®) (NYSE: "TSS") today announced the renewal of a multi-year processing agreement with First North American National Bank® (FNANB®) to provide retail card processing for its Circuit City Credit Card. FNANB is a wholly owned subsidiary of Circuit City Stores, Inc. (Circuit City). Circuit City, a leader in the sale of electronics headquartered in Richmond, Va., is TSYS’ longest-standing retail client. TSYS has processed the Circuit City Credit Card retail portfolio since 1990.
TSYS President Philip W. Tomlinson said, "We have enjoyed a great partnership with Circuit City and FNANB, and we are very pleased with the continued vote of confidence demonstrated by the renewal of their processing agreement. Through our relationship with FNANB, TSYS has gained invaluable knowledge of the special processing needs of retailers. Circuit City’s desire to be the best has enabled TSYS to build a premier retail system."
FNANB Chairman and President Mike Chalifoux said, "Approximately ten (10) years ago, as we began preparation to start FNANB, TSYS was selected to provide processing for the Circuit City Credit Card portfolio because we believed that TSYS shared the same values and the same commitment and dedication to customer service. Recently, in anticipation of the expiration of our contract, we surveyed the marketplace and once again concluded that TSYS is the best partner for FNANB as we move forward into the next decade."
Circuit City is a leading national retailer of brand-name consumer electronics, personal computers, major appliances and entertainment software. With headquarters in Richmond, Va., Circuit City Stores, Inc. operates 540 Circuit City Superstores, two consumer electronics-only stores, 48 mall-based Circuit City Express stores and 32 CarMax locations.
TSYS is one of the world’s leading information technology processors of data, transactions and payments, for domestic and international issuers of credit, debit, commercial and private-label cards. TSYS’ sophisticated systems offer online accounting, data processing, electronic commerce services, portfolio management, account acquisition, credit evaluation, risk management and customer service. Through our family of companies, TSYS services the entire lifecycle of card accounts making it possible for more than 186 million cardholders to use their cards at the point of sale or over the Internet. Headquartered in Columbus, Ga., TSYS, (www.totalsystem.com) is an 80.8% owned subsidiary of Synovus Financial Corp. (NYSE: "SNV") (www.synovus.com) named the Best Company to Work for in America by FORTUNE magazine.
Contacts:
Danita Gibson-Lloyd
Corporate Communications Manager
ph. (706) 649-5578
dgibsonlloyd@totalsystem.com
Kimberly Knight
Corporate Communications Specialist
ph. (706) 644-1218
kknight@totalsystem.com