TSYS® Signs Agreement with Commerce Bancshares for Processing
TSYS Subsidiary to Provide e-Customer Service and Digital Wallets
Columbus, Ga., April 27, 2000 - Total System Services, Inc.® (TSYS®) (NYSE: "TSS") today announced the signing of a multiyear agreement with Commerce Bancshares, Inc. to process approximately one million credit and debit accounts. Commerce Bancshares’ credit and debit portfolios will convert to TS2®, the industry’s most technologically advanced processing system, in the third quarter of this year. DotsConnectSM, a wholly owned TSYS e-payments subsidiary, will provide Commerce Bancshares’ card customers with access to online customer service and digital wallet technology.
"We look forward to the new opportunities TSYS will provide for us, especially in the debit arena," said Ken Ragan, executive vice president and head of Commerce Bank’s Retail Lending and Payment Systems division. "We are very pleased with the excellent service TSYS has provided us since 1995 when they began processing our commercial and college card portfolios."
"Commerce Bancshares enjoys an outstanding reputation in the industry as a leader with aggressive growth plans. In many ways their culture parallels ours; that is why adding Commerce Bancshares’ consumer and debit portfolios to the commercial card portfolio we already process reaffirms the strength of the relationship, philosophy and commitment we share," said Philip W. Tomlinson, president of TSYS. "We look forward to providing the sophisticated debit and consumer systems that will allow these portfolios to grow and prosper."
About Commerce Bancshares, Inc.
Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered bank holding company offering a full line of banking services, including investment management and securities brokerage. Commerce Bancshares traces its origin to Kansas City, Mo. in 1865. The Company currently operates in approximately 330 locations in Missouri, Illinois and Kansas. The Company also has operating subsidiaries involved in mortgage banking, credit related insurance, venture capital and real estate activities.
About Total System Services, Inc.
TSYS provides global commerce solutions. With more than 209.5 million accounts on file, TSYS facilitates the payment exchange between buyers and sellers for approximately 293.3 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) (NYSE: "TSS") 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 Corporate Communications Specialist
ph. (706) 644-9423
lwilloug@totalsystem.com