TSYS Signs First Card-Issuer in Japan
Tokyo and Columbus, GA, 27 Sep. 2006 - In the company’s first processing relationship with a card-issuer in Japan, TSYS will support a new co-branded Visa offered by Toyota Finance and Nikko Cordial Securities.
Starting in October, Toyota Finance Corporation, a member of Visa International, will issue the Visa Platinum cards for customers of Nikko Cordial Securities, one of Japan’s largest securities companies. The card will be linked to the customer’s brokerage account facilitating the cash access via domestic ATMs and purchase transactions in Japan and overseas. Given the fact that many Nikko Cordial customers hold accounts in more than two currencies, cardholders can settle with yen-based account for domestic transactions and with U.S.-dollar-based account for overseas transactions.
“TSYS is the only third-party payments processor in Japan that currently offers multi-currency and multi-function support. That was the critical factor for us to select TSYS as processor for the first product of this kind in Japan. We were pleased with the manner in which TSYS responded to our challenge,” says Yoshio Inagaki, president of Toyota Finance Co., Ltd.
“We are excited to offer the power of TS2 to the Japanese card industry,” says Hitoshi Kondo, managing director of TSYS Japan. “TSYS is committed to providing superior systems and services to the market, and we hope our support to this innovative product sets a new benchmark for payment technologies in Japan.”
TSYS Japan Co., Ltd., is a wholly owned subsidiary of TSYS, established in 2003.
About Toyota Finance
Toyota Finance Corporation was established for the purpose of financial support to Toyota Motors group companies. In addition to car loans, leasing, and home loans, it expanded its business to include credit cards in 2001. Toyota Finance has been enjoying the rapid growth in card business. In 2005, the number of active cardholders reached nearly 5.4 million, and total transaction volume exceeded $10 billion.
About Nikko Cordial
Nikko Cordial Securities Co., Ltd. is one of the three large securities company groups in Japan with $249 billion total assets under management. Its sales network consists of 108 branch offices and sales offices throughout Japan, and five overseas representative offices and four subsidiaries.
About TSYS
TSYS is one of the world’s largest payment-services companies, offering a broad range of packaged and outsourced issuer- and acquirer-processing technologies that support consumer-finance, credit, debit and prepaid services for financial institutions and retail companies worldwide. Based in Columbus, Ga., TSYS (NYSE: TSS) is 80-percent held by Synovus (NYSE: SNV), one of FORTUNE magazine’s “Most Admired Companies” and a member of its “100 Best Companies to Work For” Hall of Fame. For more information, contact news@tsys.com.
Contacts
TSYS
Cyle Mims
+1.706.644.3110
cylemims@tsys.com
TSYS
Shawn Roberts
+1.706.644.6081
shawnroberts@tsys.com