TSYS Joint Venture Renews Contract With National Processing Company
Vital Processing Services Continues to Deliver Critical Point-of-Sale Services
Columbus, Ga., Oct. 29, 2002 - A TSYS joint-venture company, Vital Processing Services® (Vital®), has renewed a multi-year agreement with National Processing Company, LLC (NPC®), the subsidiary of National Processing, Inc., that serves more than 600,000 merchants and one of every five Visa and MasterCard point-of-sale transactions in North America. Under the terms of the agreement, Vital will continue to serve as the primary provider of dial POS authorization and capture processing services.
"Today's multi-year agreement illustrates the strength of our long-standing relationship and demonstrates the commitment by both parties to continue working together in the future," says James B. Lipham, Chief Financial Officer for TSYS.
Vital, a recognized leader in technology-based commerce enabling services, is a merchant processing joint venture of Visa U.S.A. and TSYS® ( "NYSE: TSS"). The commerce connection between acquirers and merchants, Vital processes one out of every four authorized payment transactions in North America. From authorizing and capturing electronic payments at the merchant point of sale, to clearing and settling transactions, Vital provides highly reliable, integrated end-to-end processing services to more than 300 acquirers and over one million merchants. Vital processes all payment types for merchants of all sizes from a wide array of industries and provides merchants and acquirers with the information and tools to efficiently manage their payment processing businesses.
About TSYS
TSYS (NYSE: TSS) (www.tsys.com) brings integrity and innovation to the world of electronic payment services as the integral link between buyers and sellers in this rapidly evolving universe. Synovus (NYSE: SNV) owns an 81-percent interest in TSYS. For more information, contact news@tsys.com.
Contacts:
Danita Gibson-Lloyd
TSYS Media Relations
706.649.5578
dglloyd@tsys.com
Leo Berard
TSYS Investor Relations
706.644.6081
leoberard@tsys.com