TSYS Expands Global Reach With Purchase of Card Tech Limited

TSYS 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. 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 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.