TSYS Aligns With M&I Data Services to Offer Online Debit Processing
Global Leaders in Technology to Provide Connectivity for PIN-based Transactions
Columbus, Ga., April 11, 2000 - Total System Services, Inc.® (TSYS®) (NYSE: "TSS"), today announced the signing of an agreement with M&I Data Services that will allow TSYS to enter the PIN-based debit processing arena. TSYS currently provides the industry’s most sophisticated non-PIN-based processing services and this alignment with M&I Data Services gives an even more cost-effective and rapid entry into the online debit business. TSYS will offer issuers full-service debit processing with transparent connectivity for PIN-based and non-PIN-based debit transactions.
The market potential for debit transactions has grown exponentially. According to Bank Network News, point of sale transaction volumes in March 1999 totaled 202.3 million, or 18 percent of the networks’ 1.1 billion total electronic fund transactions for the month. In addition, debit card volume will grow by 780 percent between 1998 and 2010, according to the December 1999 issue of The Nilson Report.
"This agreement is an outstanding match of each organization’s expertise," said Ann Schmitt, a senior consultant for Dove Consulting, an international management consulting firm whose e-finance group is one of the most respected in the world. "M&I’s ability to provide debit network connectivity, combined with Total System’s expertise in back-office and settlement services creates a compelling business proposition for debit card issuers."
"Our arrangement with M&I gives TSYS the domestic and international flexibility to enter a full-service debit processing market as well as other electronic payment markets like electronic bank transfers and stored-value programs," said Shannon Vestal, director of Debit Services at TSYS.
"The competitive advantages of M&I’s Data Services electronic funds delivery position TSYS to continue to deliver high-quality, responsive services to its current and future customers," said Frank D’Angelo, senior vice president and general manager for M&I’s Electronic Funds Delivery Services. "This alignment is an exciting opportunity for both M&I Data Services and TSYS to participate in the explosive growth of new payment methods, such as debit and Internet-based transactions."
"TSYS has been a player in the non-PIN based debit market since the early ‘80s, and this new arrangement strengthens the existing relationships and synergies of two technology companies focused on providing superior financial services," said Debra Wohlrab, TSYS Group Executive, Pre-funded Products. M&I’s relationship with TSYS and the Synovus family of companies spans over 20 years.
M&I Data Services supports both Visa Check and MasterMoney PIN-based and non-PIN-based debit cards. M&I services high-volume users, small credit unions and community banks.
About M&I Data Services
Based in Milwaukee, Wis., M&I Data Services is a division of Marshall and Ilsley Corporation (NYSE: MI), a $24.4 billion holding company. M&I Data Services had total revenues of $583 million in 1999 and provides leading-edge technology solutions to the financial services industry, offering consulting, software, and processing solutions for financial institutions worldwide. The company’s rapid growth is powered by innovative product development, strategic product acquisitions, and strong customer relationships.
The Electronic Funds Delivery (EFD) Services division of M&I Data Services provides transaction routing, switching, and authorization services for the electronics funds transfer industry. It supports all major makes and models of ATMs and provides ATM and debit card processing. EFD also performs network gateway services and has network interfaces with all major regional and national ATM and point of sale (POS) networks. The EFD Services division provides complete credit card and merchant services, e-commerce, credit approval, portfolio risk management, neural-network fraud detection, fraud investigation and comprehensive card personalization services.
For more information, visit the Web site for M&I Data Services at www.midata.com or Cardpro Services at www.cardpro.com. Inquirers may also contact Tim Kobussen of M&I Data Services, (800) 236-3282, ext. 43651, or by e-mail at tim.kobussen@midata.com.
About Total System Services, Inc. (TSYS)
TSYS provides global commerce solutions. With more than 210.6 million accounts on file, TSYS facilitates the payment exchange between buyers and sellers for approximately 294.8 million consumers. Our systems capture and deliver more of the right information to our clients that allows them to make wiser business decisions, currently yielding portfolio growth more than twice the industry average. TSYS and its family of companies offers a full range of business services, from credit application to collections, allowing our clients to focus on building their brands while we focus on safety, security, ease and convenience. Based in Columbus, Ga., TSYS (www.totalsystem.com) is an 80.8-percent-owned subsidiary of Synovus Financial Corp. (NYSE: "SNV") (www.synovus.com), No. 5 on FORTUNE magazine’s list of "The 100 Best Companies To Work For" in 2000.
Contacts:
Danita Gibson-Lloyd
Corporate Communications Manager
ph. (706) 649-5578
dglloyd@totalsystem.com
Linda Willoughby
Senior Communications Specialist
ph. (706) 644-9423
lwilloug@totalsystem.com