TSYS® to Process Remainder of Nordstrom Accounts
Once Accounts Converted, TSYS Becomes Leading Private-Label Processor
Columbus, Ga., May 11, 1999 – Total System Services, Inc.® (TSYS®) (NYSE: "TSS") today announced the signing of a multi-year agreement with Nordstrom National Credit Bank (NNCB) to process its Nordstrom private-label credit card portfolio. Nordstrom will process its 5 million private-label cards on the TSYS TS2® Processing System, which is the same platform on which TSYS currently processes Nordstrom's Visa consumer card portfolio. Once these accounts are converted, TSYS will become the largest processor of private-label cards.
TSYS President Philip W. Tomlinson said, "We are excited about expanding our processing relationship with one of the country's leading retailers. Nordstrom will find TS2 to be the premier system for sophisticated retailers who are looking to outsource their processing. Our track record for providing service and technology to this niche market is well known, and Nordstrom will be the beneficiary of a card processing system which has been tailored for the retail world."
"In today's fiercely competitive retail environment, it is essential that retailers provide their customers with leading-edge incentives and offerings. TS2 gives retailers the flexibility to offer their clients more than ever before," Tomlinson continued.
In 1998, TSYS invested more than 70,000 programming hours to adapt TS2 for retail processing. TS2 allows retailers to perform several functions to target the individual consumer. With features like Transaction Special Programming (TSP), retailers can perform Same-As-Cash or Deferred Billing transactions and Installment Billing. TS2 also allows retailers to accept instant payments on accounts, as well as offer multiple account numbers for one account.
Nordstrom joins a growing list of major retailers to sign multi-year contracts with the Columbus-based card processing company. Sears, with more than 64 million private-label cards, and Canadian Tire, with more than six million private-label cards, signed contracts with TSYS in 1998.
Nordstrom is one of the nation’s leading fashion specialty retailers with 99 stores in 22 states. NNCB was formed in 1991 to allow Nordstrom credit services to keep pace with the expansion plans of Nordstrom, Inc. NNCB is headquartered, in Englewood, Colorado and operates both Nordstrom retail charge card and Nordstrom Visa charge card.
TSYS is one of the world’s leading information technology processors of data, transactions and payments 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. Through our family of companies, TSYS services the entire lifecycle of card accounts making it possible for more than 186 million cardholders to use their cards at the point of sale or over the Internet. Headquartered in Columbus, Ga., TSYS, (www.totalsystem.com) is an 80.8% owned subsidiary of Synovus Financial Corp. (NYSE: "SNV") (www.synovus.com) named the Best Company to Work for in America by FORTUNE magazine.
Contacts:
Danita Gibson-Lloyd
Corporate Communications Manager
ph. (706) 649-5578
dgibsonlloyd@totalsystem.com
Kimberly Knight
Corporate Communications Specialist
ph. (706) 644-1218
kknight@totalsystem.com