NACHA Electronic Payments Association announced that Secure Vault Payments (SVP) will move into full commercialization following a pilot designed to assess the feasibility of SVP. Supported by eWiseâs Online Banking ePayments (OBeP) platform, financial institutions, merchants, billers, payment gateway providers, and core payment processors have embraced SVP as a payment solution. NACHA will continue to serve as the governing body for SVP, creating, maintaining, and enforcing the use of SVP through the NACHA Operating Rules and business rules specific to SVP. eWise, as the exclusive switch operator and technology provider, will oversee all sales, marketing, and implementation activities necessary to fully develop the SVP network. Significant increases in sales and marketing activities have begun with the addition of dedicated sales and marketing teams to drive further adoption of SVP by financial institutions, merchants, and billers.
GA-based Synovus has appointed Mark G. Holladay to Chief Risk
Officer, Kevin J.Howard as Chief Credit Officer and Roy Dallis âDâ
Copeland, Jr. to Chief Commercial Officer. Holladay was promoted to the
position of Executive Vice President and
Chief Credit Officer of Synovus in 2000. He was appointed Executive Vice
President of Banking/Client Delivery in 1994 and previously served as
Senior Vice President of Commercial Lending. Holladay began his career
with Synovus in 1974 with Columbus Bank and Trust Company (CB&T).
Holladay is a graduate of Columbus State University with a Bachelor of
Science Degree in Biology. Howard was named Senior Vice President and
Credit Manager of Synovus in
2004. In 2000, he was promoted to the position of Senior Vice President
of commercial real estate, correspondent and affiliate lending. He
joined CB&T as a Vice President in 1993, after five years in commercial
banking. Howard is a graduate of the University of Alabama with a
Bachelor of Science Degree in Finance. Copeland most recently served as
the President and CEO of Citizens First
Bank in Rome, Georgia. He has led various banking departments from
Retail and Commercial Banking to Senior Manager of the Financial
Services Group at CB&T. Copeland began his career with CB&T in 1992. He
is a graduate of the Georgia Institute of Technology with a Bachelor of
Science Degree in Management.
Banking and payments provider Firethorn Holdings and Verizon Wireless have joined forces to enable customers of customers of major financial institutions, including Wachovia, SunTrust, FirstBank, and BancorpSouth mobile access to their accounts. The Firethorn application is currently available on several phones from Verizon Wireless, including the Chocolate and enV by LG, LG VX8700, LG VX8600, LG VX9400, and the Samsung SCH-a950. The companies expect to make the application available on additional devices in the coming months. Verizon Wireless customers can find the Firethorn application in the “Get Going”or “Tools” on the Go virtual shopping aisle of the “Get It Now” virtual store by clicking on “Get New App” and then “Business/Tools.” The mobile banking application is free, but application download, usage or megabyte charges may apply.
Synovus has appointed G. Sanders Griffith III to transition to TSYS to serve as Senior EVP, General Counsel and Secretary and named Paul M. Todd to EVP of Mergers and Acquisitions, J. Barton Singleton as EVP, Synovus Financial Management Services in anticipation of the upcoming spin-off of TSYS. Griffith began his career at Synovus in 1988 as VP and General Counsel. He was promoted to EVP General Counsel and Secretary in 1992 and Senior EVP in 1995. His responsibilities also included directing the governmental and regulatory affairs for both Synovus and TSYS. Todd will be returning to TSYS, where he began his career with the Synovus family of companies in 1995 and served in various capacities in the Finance and Strategy areas. In May 2002, he moved to Synovus Finance where he led the area responsible for mergers and acquisitions. He became the CFO for FMS in 2003 and then COO in 2005. Todd was promoted to Synovus EVP in March 2007. Before coming to Synovus, Singleton spent 16 years at SouthTrust Securities in various roles, including Manager of the Capital Markets Group and as a member of the board of directors. He joined Synovus Securities in August 2005 and has served as a SVP and Manager of the Investment Banking and Institutional Brokerage Groups.
TSYS and China UnionPay Data Services (CUP) have completed its bankcard
conversion for Shanghai Pudong Development Bank (SPDB), leading to a
number of “firsts” in China’s financial industry. Of these “firsts”,
included is the successful conversion in China by an overseas data center,
conversion from a mainframe to an open platform and the conversion of more
than a million Chinese accounts at once. Furthermore, this conversion
allows SPDB to move its card portfolio to its domestic data center. CUP
Data processes bankcard accounts and transactions with over 40 credit- and
debit- client banks while TSYS outsources payment services around the
world and was issued its IPO in 1983.
TSYS reported that estimates for 2007 total revenues will increase 1% instead of the previously announced decline of 3% to 2%. On a non-GAAP basis, 2007 net income, excluding spin-off charges, is estimated to increase 25% versus the previously announced 20% to 22% increase. On a GAAP basis, TSYSÃ¢Â 2007 net income is expected to decline 4% instead of the previously announced increase of 0% to 2%. TSYSÃ¢Â 2008 net income is estimated to increase 4% to 6% with total revenues increasing 7% to 9%. Additionally, Synovus announced that it has set December 18th as the record date for the TSYS spin-off. Synovus currently owns approximately 80.7% of TSYS. The TSYS spin-off was announced in October. TSYS reported that third quarter profits rose 27%, hitting $68.8 million. (CF Library 10/23/07; 10/26/07)
TSYS reported that third quarter profits rose 27%, hitting $68.8 million. Revenues of $457.6 million represented a 4% rise over 3Q/06. The Company says revenue growth continues to pick up steam with international revenues growing 38% year-to-date over 2006. During the third quarter TSYS signed an issuer processor agreement with Discover Financial Services; signed a long-term agreement with the U.K.’s Nationwide to process its credit card account portfolio and to build, operate and manage a new customer care center for member support services; signed Tinkoff Credit Systems, a Moscow-based consumer lending bank, to supply its card management and authorization system; launched a new money transfer card in the UK with Lloyds TSB; and announced a multi-year agreement to provide merchant processing services to Veracity Payment Solutions headquartered in Atlanta. Based on GAAP, TSYS’ estimates 2007 net income to increase between 0%-2% as compared to 2006. For complete details on TSYS third quarter performance, visit CardData ([www.carddata.com]).
TSYS REVENUE HISTORICAL
3Q/05: $422.0 million
4Q/05: $420.7 million
1Q/06: $412.3 million
2Q/06: $429.2 million
3Q/06: $441.8 million
4Q/06: $503.9 million
1Q/07: $429.6 million
2Q/07: $460.2 million
3Q/07: $457.6 million
Source: CardData (www.carddata.com)
TSYS has signed a partnership agreement with Paymentflex Technologies to provide a credit system that allows cardholders to choose their interest rate each month according to the amount of their balance they choose to pay off. “Paymentflex” is a patented credit system that rewards cardholders for their responsible use of credit and for issuers requires no customer interface to be integrated by TSYS. TSYS says the partnership with Paymentflex enables it to offer its clients a pro-consumer solution that is simple, transparent and seamless to users and directly addresses current regulatory and consumer advocacy concerns regarding customer empowerment and full disclosure. Financial terms of the multi-year agreement were not disclosed.
From Gartner’s “MarketScope for Multiregional Card Management Software,
2007,” TSYS Card Tech has received a positive rating indicating a
recommendation of incremental investment and shortlist placement. With this
development, TSYS Card Tech, a TSYS subsidiary, joins a list of 11 other
companies with a Gartner’s positive-feedback rating. TSYS provides
outsourced payment services around the world for various industries.
Marketscope evaluates marketplaces across a range of industry for
investor information without product endorsement.
Discover Financial Services and TSYS have inked an issuer processor agreement. Under the terms of the agreement, TSYS will begin processing prepaid and credit card transactions on the Discover Network. In 2006, TSYS processed 13.2 billion issuing and acquiring transactions for more than 400 million cardholder accounts. Last month, Chase Paymentech began integrating the Discover Network into the merchant boarding process as the first step towards full integration, and expects to rollout the full processing package to its existing merchant customers starting early next year. In December, RBS Lynk completed integration and roll-out of direct Discover Network card processing. Also last year, First National Merchant Solutions agreed to offer its customers Discover card acquiring services. U.S. Bancorp’s NOVA Information Systems signed a merchant acquiring agreement to add Discover Network card acceptance. Additionally, Global Payments and TSYS Acquiring Solutions agreed to expand the card’s acceptance. (CF Library 10/10/06; 12/5/06; 12/18/06; 9/20/07)
TSYS Europe has named Arnold Sneijers, formerly with SiNSYS, the first pan-European interbanking company serving the card payments industry as Netherlands-based European Sales Director. Before his tenure at SiNSYS, Sneijers was general manager of e-commerce services for Interpay Nederland B.V. During this time he was responsible for mobile and internet payments operations, strategy, and several large investment projects. Sneijers earned a bachelor’s degree in information technology engineering and a master’s degree in business administration, with a concentration in international management. TSYS provides outsourced payment services.
TSYS Europe has appointed Arnold Sneijers as European Sales
Director to work out of the Netherlands and oversee all European sales.
With 15 years of experience in the payments industry, Sneijers was
most recently director of commerce and business development at
SiNSYS, following his time as general manager of e-commerce services
for Interpay Nederland B.V. His education includes a bachelor’s degree
in information technology engineering and a master’s degree in business
administration, with a concentration in international management. TSYS
provides outsourced payment services for financial institutions and retail
companies around the world.