TSYS® Enters Teen Card Market with M2card, Inc.
Signs Multi-Year Agreement to Process Innovative Teen Stored Value Card
Columbus, GA., July 5, 2000 -- Total System Services, Inc.® ("TSYS"®) (NYSE: "TSS") announced a multi-year agreement with M2card, Inc. ("M2"), an innovative online and offline payment solution for teenagers and young adults, to provide M2 with transaction authorization and processing services. Set to launch later this year on TSYS’ new stored value platform, M2 will offer teens a pre-funded card for use at all merchants that accept VISA.
The TSYS Stored Value Platform positions TSYS to meet the dynamic needs of the pre-funded card market. With this new platform, TSYS offers solutions to meet all stored value markets’ needs, including the rapidly expanding teen and young adult market segments. Additionally, TSYS’ industry expertise in processing and customer service allows it to offer end-to-end solutions to the entire spectrum of card providers.
"We are very pleased to partner with TSYS in developing leading payment solutions for teenagers and young adults," stated Junehee Cho, CEO of M2card. "By developing M2’s products using TSYS’ robust stored value platform, M2 offers each cardmember the ability to receive funds from parents, grandparents, relatives and friends into one fail-safe and secure account. Through M2’s complete array of transaction-related services, cardmembers will be able to use their funds online, offline and via wireless devices across the widest merchant-acceptance network anywhere."
Scot Sasser, Director of TSYS Stored Value Products, said, "TSYS is very excited about our partnership with M2. By providing the broadest access to commerce capabilities via a non-credit-based solution, M2 also solves the inability of teenagers and young adults to shop online. In addition, M2 will educate its cardmembers in all areas relating to money management, a cause with which we are pleased to be associated."
About M2card, Inc.
M2card ("M2") provides innovative, technology-based financial solutions for teenagers and young adults. M2 enables its cardmembers to shop anywhere online and offline within the VISA merchant network. M2 also offers fully integrated mobile information and transaction capabilities. M2 was founded in 1999 and is based in New York City. For more information, please visit www.M2card.com, or email info@M2card.com.
About TSYS
TSYS provides global commerce solutions. With more than 179 million accounts on file, TSYS facilitates the payment exchange between buyers and sellers. TSYS and its family of companies offer a full range of business services from credit application to collections for credit, debit, commercial, stored value and retail accounts. Based in Columbus, Ga., TSYS (NYSE: "TSS") (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. For more information, contact news@totalsystem.com.
Contacts:
Kimberly Knight
Corporate Communications Specialist
ph. (706) 644-1218
kiknight@totalsystem.com
Danita Gibson-Lloyd
Corporate Communications Manager
ph. (706) 649-5578
dglloyd@totalsystem.com