Total System Services, Inc. announced a five-year extension to their processing agreement with First Tennessee Bank, N.A. to provide its consumer credit card processing. TSYS has processed the First Tennessee portfolio since 1995.
First Tennessee’s portfolio represents approximately 1.4 million consumer cardholder accounts, including credit and debit cards.
TSYS President Phil Tomlinson said, “First Tennessee continues to stay at the top of the banking industry, and we are delighted to play a part in the success of this company. This renewal is a sign of our positive relationship with First Tennessee, and we look forward to a long and prosperous association.”
Ralph Rolen, Executive Vice President and Manager of the Retail Credit Division, First Tennessee, said, “We have developed great confidence in TSYS’ ability to continue to help strengthen First Tennessee’s position in the marketplace. This extension allows First Tennessee to continue providing its customers with first-rate quality, value, and customer service.”
About First Tennessee
First Tennessee, headquartered in Memphis, Tennessee, is a nationwide, diversified financial services institution and is one of the 50 largest bank holding companies in the United States in asset size and market capitalization. Banking and other financial services are provided through the regional banking group and three national lines of business: FT Mortgage Companies, First Tennessee Capital Markets, and transaction processing. Transaction processing includes credit card merchant processing, MONEYBELT(SM) (automated teller machine network), and First Express (nationwide check clearing operation and our retail lockbox products).
The corporation’s common stock is traded on the New York Stock Exchange under the symbol “FTN.” It is listed in the financial section of most newspapers as “FstTN Ntl” and is included in the Standard & Poor’s MidCap 400 index. More information is available at First Tennessee’s Web site at [http://www.firsttennessee.com].
About Total System Services, Inc.
TSYS is one of the world’s leading processors of data and transactions for domestic and international issuers of credit, debit, commercial and private- label cards. TSYS’ sophisticated systems offer online accounting, data processing, electronic commerce services, portfolio management, account acquisition, credit evaluation, risk management and customer service. With more than 206.2 million accounts on file, TSYS and its family of companies service the entire lifecycle of card accounts, making it possible for 288.6 million consumers to use their cards anytime, anywhere. Headquartered in Columbus, Ga., TSYS ([http://www.totalsystem.com]) is an 80.8 percent owned subsidiary of Synovus Financial Corp. (NYSE: SNV) ([http://www.synovus.com]), named one of “The 100 Best Companies To Work For In America” by FORTUNE magazine in 2000.