TSYS® Successfully Converts Retail Portfolio of Nordstrom
TSYS Ranks as Number One Retail Card Processor
Columbus, Ga., September 2, 1999 –Total System Services, Inc.® (TSYS®) (NYSE: "TSS") has successfully converted 5.4 million Nordstrom retail card accounts for Nordstrom National Credit Bank (NNCB) to TS2®, the industry’s most technologically-advanced payment processing system. With this conversion, TSYS becomes the nation’s largest processor of private-label cards. TSYS currently processes the Visa consumer card portfolio of Nordstrom. NNCB, headquartered in Scottsdale, Arizona, is a wholly-owned subsidiary of Nordstrom, Inc.
TSYS President Philip W. Tomlinson said, "The conversion of Nordstrom is a crowning achievement for TSYS. Over the past year, TSYS became the largest processor of private-label cards in the United States, and we are proud of the role Nordstrom played in our success."
He continued, "TS2 is the premier system for sophisticated retailers looking to outsource their processing, because it is tailored for the unique requirements of the retail world. Nordstrom is a prominent name in the retail business, and we are pleased with the successful conversion of its portfolio," said Tomlinson.
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 Processing® (TSP®), retailers can perform Same-As-Cash, Deferred Billing and Installment Billing options. TS2 also allows retailers to accept and credit instant payments on accounts at the point of sale, 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 cards, and Canadian Tire, with more than six million cards, signed contracts with TSYS in 1998.
Nordstrom is one of the nation’s leading fashion specialty retailers with 100 stores in 23 states. NNCB was formed in 1991 to allow Nordstrom credit services to keep pace with the expansion plans of Nordstrom, Inc. NNCB 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 and processes more than 194.6 million accounts, making it possible for an estimated 272 million cardholders to use their cards anytime, anywhere. Headquartered in Columbus, Ga., TSYS (www.totalsystem.com) is an 80.8 percent 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
dglloyd@totalsystem.com
Kimberly Knight
Corporate Communications Specialist
ph. (706) 644-1218
kiknight@totalsystem.com