The parent company of Total System Services, Inc. Synovus Financial Corp announced its successful acquisition of ProCard, a leading provider of software and Internet tools designed to assist organizations with the management of purchasing, travel and fleet card programs. This acquisition offers TSYS the opportunity to further expand its services to ProCard’s clients wanting to build their commercial card portfolios. ProCard will continue to operate in Golden, Co. as a wholly owned subsidiary of Synovus.
The integration of ProCard’s software solutions with TSYS’ processing systems and its suite of products enhances TSYS’ transition to a complete electronic reporting environment for its commercial clients. TSYS can now deliver detailed Level III transaction data through ProCard’s systems, providing corporations with intelligent data via the Internet thereby facilitating better business decisions. TSYS processes 86 percent of the U.S. Visa and MasterCard commercial cards and 100 percent of all bankcards issued to federal government agencies participating in the General Services Administration’s Smart Pay program.
“With the combination of TSYS’ highly-customizable TS2(R) Processing System and ProCard’s software products, Internet tools and robust back-end reconciliation process, our commercial clients will have access to state-of- the-art services from two leaders in the commercial services arena,” said Richard W. Ussery, Chairman of the Board and CEO of TSYS.
“Our team members are excited about joining the family of one of the best places to work in America. Both ProCard and TSYS have been recognized in the financial services industry as leading solution providers both domestically and globally,” said Dale Browning, president and CEO of ProCard. “Joining Synovus and TSYS is a win for our team members, clients and shareholders, and now all these benefits are available to ProCard’s clients. In addition, TSYS’ commercial clients will benefit from ProCard’s expertise.”
About ProCard, Inc.
ProCard is a leader in customized, Internet, Intranet and client/Server software solutions for commercial card management programs. In cooperation with commercial card bank issuers, ProCard technology has been installed and is actively used at corporations, federal, state and local government agencies and major educational institutions. ProCard’s applications serve 93 Fortune 500 companies. See ProCard on the Web at [http://www.procard.com].
About Total System Services, Inc.
TSYS provides global commerce solutions. With more than 181 million accounts on file, TSYS facilitates the payment exchange between buyers and sellers for approximately 253 million consumers. Our systems capture and deliver more of the right information to our clients that allows them to make wiser business decisions, currently yielding portfolio growth more than twice the industry average. TSYS and its family of companies offers a full range of business services, from credit application to collections, allowing our clients to focus on building their brands while we focus on safety, security, ease and convenience. Based in Columbus, Ga., TSYS ([http://www.totalsystem.com]) is an 80.8-percent-owned subsidiary of Synovus Financial Corp. ([http://www.synovus.com]), No. 5 on FORTUNE magazine’s list of “The 100 Best Companies To Work For” in 2000.
About Synovus Financial Corp.
Synovus Financial Corp. is a multi-financial services company with more than $13 billion in assets based in Columbus, Ga. Synovus is composed of 38 banks serving communities throughout Georgia, Alabama, Florida and South Carolina; an 80.8 percent ownership of Total System Services, Inc., the global solutions provider for commerce; Synovus Trust Company, one of the Southeast’s largest providers of trust services; Synovus Securities, Inc., a full-service brokerage firm; Synovus Mortgage Corp., which offers mortgage services throughout the Southeast; and Synovus Insurance Services. See Synovus on the web at [http://www.synovus.com].