TSYS Announces Agreement to Bring the Patented, Flexible and Pro-Consumer Paymentflex Credit System to Clients
Columbus, Ga., October 16, 2007 — TSYS announced today it has signed a partnership agreement with Paymentflex Technologies, LLC to provide the Paymentflex® credit system that allows cardholders to choose their interest rate each month according to the amount of their balance they choose to pay off — the more they pay, the lower their interest rate is the next month.
Paymentflex is a customer–friendly, patented credit system that rewards cardholders for their responsible use of credit, and issuers benefit by having a new, compelling and profitable alternative to traditional credit card offerings. An additional benefit for issuers is that no customer interface is needed once it is integrated by TSYS.
The partnership with Paymentflex Technologies enables TSYS to offer its clients a pro–consumer solution that is simple, transparent and seamless to users and directly addresses current regulatory and consumer advocacy concerns regarding customer empowerment and full disclosure.
Paymentflex is a dynamic personal financial management tool that promotes responsible credit use and addresses requests for low interest rates from customers. With Paymentflex, all customers can have a low interest rate, always.
“Our clients are constantly searching for a product that meets their marketing and profitability needs while providing real benefits to their customers,” said M. Troy Woods, president and chief operating officer of TSYS. “TSYS believes that the Paymentflex credit system is that type of solution for our clients here in the U.S. and around the world.”
“Credit card executives seek simple solutions that work for all customers and promote responsible use of credit,” says Stephen J. Hucal, chief executive officer of Paymentflex Technologies. “Paymentflex directly addresses these needs. In fact, 70 percent of surveyed consumers, who revolve a credit card balance, indicate that they would apply for a Paymentflex–powered credit card. They recognize the Paymentflex benefits of choice, control, flexibility and savings.”
Financial terms of the multi–year agreement were not disclosed.
About TSYS
TSYS (www.tsys.com) is one of the world’s largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. Based in Columbus, Ga., TSYS (NYSE: TSS) is closely held by Synovus Financial Corp. (NYSE: SNV), one of FORTUNE magazine’s “Most Admired Companies” and a member of its “100 Best Companies to Work For” for 10 consecutive years. For more information, contact news@tsys.com.
About Paymentflex Technologies, LLC
Toronto–based, Paymentflex Technologies, LLC (www.paymentflex.com) is leading the next generation of credit value propositions with simple, seamless and transparent solutions for acquisition and portfolio management in the banking/financial services industry, worldwide. The Paymentflex® credit system is deployable on bankcards, debit cards, checking accounts (with overdraft protection), retail private label cards, and revolving lines of credit and is already programmed and accessible for licensing globally.
Contacts
Cyle Mims
TSYS Media Relations
+1.706.644.3110
cylemims@tsys.com
Shawn Roberts
TSYS Investor Relations
+1.706.644.6081
shawnroberts@tsys.com
Stephen J. Bartell
Paymentflex Technologies LLC
+1.914.833.8683
bartell@paymentflex.com