Total System Services, Inc. Moves into Central America
Signs leading Honduran Bank for Visa card processing.
Columbus, Ga., July 12, 1999 – Extending its international presence into Central America, Total System Services, Inc.® (TSYS®) (NYSE: "TSS"), one of the world’s leading information technology processors, today announced the signing of a multi-year agreement with Bancahsa, the second-largest bank in Honduras, to process its Honducard-Visa credit cards.
TSYS President Philip W. Tomlinson said, "Signing Bancahsa represents another significant step in Total System Services’ international expansion strategy to become the global processor of choice. This long-term agreement builds on our successful and growing international business in Mexico, Canada, Puerto Rico and the Caribbean. We plan to further expand into Central America, South America, Europe and the Asia-Pacific region."
TSYS’ accounts on file more than doubled from June 1998 to June 1999. Currently, TSYS processes 192 million accounts, which represent 269 million cardholders of which almost 20 million are international consumers. From Columbus and its three international offices, TSYS processes one-third of the credit cards issued in Mexico, has gained a market share of 21 percent in Canada within six months, and recently added accounts in 15 countries in the Caribbean.
"Our association with Total System Services solidifies our commitment to provide advanced technology and high quality banking services that satisfy the needs of our clients, personnel, stockholders and the Honduran community," said Jorge Alberto Alvarado, executive president of Bancahsa. "We strongly believe TSYS can help us to reach our objectives," he added.
TSYS Moves into Central America
The processing contract includes the combined portfolios of Bancahsa and subsidiaries, Bancahorro and Credihsa. TSYS will process the Honducard-Visa accounts from its Columbus, Ga., headquarters and provide production and support from TSYS de México’s facilities in Toluca, Mexico. A late August conversion is anticipated.
Bancahsa (www.bancahsa.hn) is headquartered in Tegucigalpa, the capital of Honduras. Together with the subsidiary companies of El Ahorro Hondureño Group, S.A., Bancahsa represents the most complete financial services institution in Honduras, supported by a network of over 100 strategically located offices and more than 30 ATMs in the principal cities of Honduras.
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 192 million accounts enabling an estimated 269 million cardholders to use their cards any time, anywhere. Headquartered in Columbus, Ga., TSYS, (www.totalsystem.com) is an 80.8 percent 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
dglloyd@totalsystem.com
Becky Roberts
Project Mgr., Corporate Communications
ph. (706) 641-3839
broberts@totalsystem.com