TSYS Extends Relationship with BB&T Corporation
TSYS to Provide Credit-, Debit- and Commercial-card Processing
Columbus, Ga., March 24, 2004 - TSYS, Branch Banking and Trust Company, and BB&T Bankcard Corporation extended their card processing relationship through a three-year contract renewal announced today. Under the terms of the agreement, both companies, which are wholly-owned subsidiaries of Winston-Salem, N.C.-based BB&T Corporation (NYSE: BBT), will utilize the TSYS credit, debit and commercial platforms, including TSYS' subsidiary ProCard, which will provide technology support and services for BB&T's commercial card accounts. BB&T has been a TSYS client since 1997.
"BB&T is a true market innovator whose focus on satisfying their customers is well known throughout the industry. Their card portfolios are important tools that strengthen their overall client relationships, and generate revenues for the banking operation. We appreciate the confidence BB&T continues to place in us as their strategic partner, " said M. Troy Woods, TSYS president and chief operating officer.
"TSYS' best-in-class processing services enable us to offer innovative card products designed around our customers' needs," said Bud Tremblay, executive vice president and manager of BB&T Bankcard and Merchant Services.
"TSYS' culture, which is focused on service and people, is complementary to our decentralized approach to banking," Tremblay said.
About BB&T
BB&T Corporation and its subsidiaries offer full-service commercial and retail banking and additional financial services such as insurance, investments, retail brokerage, corporate finance, international banking, leasing and trust. BB&T operates more than 1,350 banking offices in the Carolinas, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana and Washington, D.C. On Dec. 31, BB&T had $90.5 billion in assets and was the nation's 13th largest financial holding company.
About ProCard
ProCard, a wholly owned subsidiary of TSYS, is the leading provider of technology and services for commercial card programs. Used by thousands of organizations, including nearly 20 percent of the Fortune 500, ProCard products enable companies to improve their control over commercial card expense management and reduce the overhead associated with it.
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 80.8-percent interest in TSYS. For more information, contact news@tsys.com.
Contacts
Cyle Mims
TSYS Media Relations
+1.706.644.3110
cylemims@tsys.com