TSYS Expands Global Reach With Purchase of Card Tech Limited; TSYS Now Serves Clients in 76 Countries.COLUMBUS, Ga. & NICOSIA, Cyprus -- TSYS TSYS Total System Services, Inc. announced today that it has acquired Card Tech, Ltd., and related companies, adding valuable new issuing and acquiring capabilities and significantly extending its geographic reach to important markets in the Asia Pacific, Europe, the Middle East and Africa Europe, the Middle East and Africa, usually abbreviated to EMEA, is a regional designation used for government, marketing and business purposes. It is particularly common amongst North American based companies, who often divide their international operations into the . Card Tech, a privately owned London-based payments firm, has implemented its payments software for six of the 25 largest global banks and three of the largest global card issuers. Worldwide, the company has approximately 190 clients from 70 countries -- primarily banks. Its applications are certified by all of the major global payment networks. The all-cash transaction closed on 11 July 2006. The new company will be known as TSYS Card Tech. "This is an important strategic acquisition to ensure TSYS' continued expansion into new emerging markets. With TSYS Card Tech, we have established a truly global footprint with capabilities to provide server-based issuing and acquiring services for small- and mid-sized financial institutions in almost any market," says M. Troy Woods, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of TSYS. "Card Tech has a proven record of fast, reliable implementations and low entry costs and we are delighted to establish such a wonderful match." "Our affiliation with TSYS will enhance the services and capabilities that we can offer to our customers," says Jaffar Agha-Jaffar, a founding partner of Card Tech. Mr. Agha-Jaffar will continue to serve as managing director of TSYS Card Tech after the acquisition, reporting to Bruce L. Bacon, group executive for international services at TSYS. "TSYS is committed to providing our customers with innovative and flexible processing solutions in diverse markets around the globe," says Mr. Bacon. "The combination of TSYS and Card Tech positions TSYS to serve clients throughout the world with expanded products and services regardless of size and needs of the respective market." TSYS Card Tech's software applications are widely respected in the global payments marketplace: --TSYS Card Tech offers a proven, cost-effective server-based system with an established global footprint for comprehensive issuing and acquiring services. --TSYS Card Tech offers products and services for instalment loans, credit, debit, merchant acquiring and prepaid payment platforms in addition to fraud, risk management, authorisations, chargebacks, e-commerce and m-commerce solutions designed for the bankcard market. --TSYS Card Tech's software uses market-leading innovation and flexibility specifically suited for consumer finance. --TSYS Card Tech's applications are browser-based, multilingual, multicurrency and multicountry (including double-byte-enabled) for fast and effective worldwide deployments. Card Tech, Ltd., was established in 1989, and keeps service centres in London; Dubai, United Arab Emirates United Arab Emirates, federation of sheikhdoms (2005 est. pop. 2,563,000), c.30,000 sq mi (77,700 sq km), SE Arabia, on the Persian Gulf and the Gulf of Oman. ; Nicosia, Cyprus; and Kuala Lumpur Kuala Lumpur (kwä`lə l  m`pr), city (1990 est. pop. , Malaysia. TSYS operates facilities in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and the Asia Pacific, a combined total of 12 countries worldwide. About TSYS Card Tech Approximately 190 banks from 70 countries use Card Tech solutions. Our software and processing service addresses every aspect of the card-management business cycle, including card issuance, merchant acquiring, authorisation, message switching message switching - store and forward , encryption key and PIN management, e-commerce and fraud management. TSYS Card Tech has an exceptional record of delivering scheme-compliant solutions on budget and on time. Every implementation is backed with 24x7 global support. About TSYS TSYS (tsys.com) is one of the world's largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit and prepaid services for financial institutions and retail companies in North America, Europe and the Asia-Pacific regions. Based in Columbus, Ga., TSYS (NYSE NYSE See: New York Stock Exchange : TSS See ITU. ) is closely held A phrase used to describe the ownership, management, and operation of a corporation by a small group of people. In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist. by Synovus Financial Corp. (NYSE: SNV SNV Synovus Financial Corp. (stock symbol) SNV Schweizerische Normenvereinigung (Swiss standards body) SNV Stichting Nederlandse Vrijwilligers (Netherlands Development Organization) ), one of FORTUNE magazine's "Most Admired Companies" and a member of its "100 Best Companies to Work For" Hall of Fame. For more information, contact news@tsys.com. |
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