TSYS Signs Credit Card Processing Agreement with Sony Finance
Will Offer Dual-Currency Settlement Functionality
Columbus, Ga., October 27, 2008 — TSYS announced today that it has signed a multi-year agreement with Sony Finance International, Inc., a subsidiary of Sony, to process its newly introduced credit card program.
Sony Finance will issue the credit card, which offers cardholders the ability to settle their credit card bill in either dollars or yen, at Sony Bank. If a transaction is made while the cardholder is outside of Japan, the amount will be charged in dollars, while a transaction made in Japan would be charged in yen.
"Consumers with an account at Sony Bank have shown great interest in this innovative new card," said Jun Yoshida, project leader for the credit card launch at Sony Finance International. "They are searching for a quality credit product, and we're delighted that TSYS has made it possible for us to meet our customers' high expectations."
"Japan continues to be a strategic part of our global expansion plans. We are pleased to work with Sony on such an innovative, multi-currency product," said Gaylon Jowers, president of TSYS International. "We're confident that Japanese consumers will be just as pleased with the flexibility of their card, made possible by our advanced PRIME processing platform."
"We are proud to build on our previous success here in Japan," said Hitoshi Kondo, managing director of TSYS Japan. "This announcement, following the announcement last week regarding our new data center and new clients, really demonstrates our commitment to growth in the Japanese payments market."
TSYS offers processing services for debit, credit, retail gift and loyalty products to Japanese financial and retail industries through its wholly owned subsidiary, TSYS Japan.
About Sony Finance International
Sony Finance International, Inc. is a wholly owned subsidiary of Sony Corporation. In addition to being the payment platform for the Sony group of companies, Sony Finance aims to set the de facto standard and become a provider of secure and convenient payment services in the rapidly growing E Commerce market.
About TSYS
TSYS (NYSE: TSS) 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, debt management, healthcare, loyalty and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. For more information, contact news@tsys.com or log on to www.tsys.com. TSYS routinely posts all important information on its website.
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