SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
December 22, 1997
(Earliest Event Reported)
Total System Services, Inc.
(Exact Name of Registrant as
Specified in its Charter)
Georgia 1-10254 58-1493818
(State of (Commission File (IRS Employer
Incorporation) Number) Identification
Number)
1200 Sixth Avenue, Columbus, Georgia 31901
(Address of principal executive offices)
(706) 649-2267
(Registrant's Telephone Number)
(Former name or former address, if changed since last report)
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Item 5. Other Events.
On December 22, 1997, Total System Services, Inc. ("Registrant")
announced the signing of a ten year processing agreement with Royal Bank of
Canada to process its credit card portfolio.
A copy of Registrant's press release regarding the announcement
referenced above is attached hereto as Exhibit 99.1, and by this reference made
a part hereof.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Financial Statements - None.
(b) Pro Forma Financial Information - None.
(c) Exhibits
99.1 - Registrant's press release, December 22, 1997
2
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Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, Registrant has caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TOTAL SYSTEM SERVICES, INC.
("Registrant")
Dated: December 22, 1997 By:/s/ Kathleen Moates
----------------------------- -------------------
Kathleen Moates
Deputy General Counsel
3
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Exhibit Index
Exhibit Number Description
99.1 Registrant's
press release
dated December 22, 1997
4
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[LOGO] NEWS RELEASE
For Immediate Release
Contacts: Danita Gibson-Lloyd Virginia Lewis
Corporate Communications Manager Senior Account Executive
Total System Services, Inc. Ketchum Public Relations
(706) 649-5578 (404) 877-1842
[email protected] [email protected]
TSYS Further Expands International Presence
Columbus, Ga., December 22, 1997 -- Total System Services,
Inc.(R)(TSYS(R))(NYSE: "TSS") today announced the signing of a multi-year
agreement to provide consumer card (cardholder) processing services to Royal
Bank of Canada. With the signing of Royal Bank, TSYS now processes for seven of
the leading financial institutions in Canada. This contract gives TSYS its
second major signing in the Canadian region behind the recently announced,
multi-year Canadian Tire Acceptance, Limited card processing agreement.
Royal Bank's cardholder portfolio totaling more than five million accounts
will be converted to TSYS' state-of-the-art, Year 2000 compliant TS2(R)
Cardholder System. The bank, which previously processed their consumer cards
in-house, has been a commercial card customer of TSYS since 1995.
TSYS President Philip W. Tomlinson said, Royal Bank has a sterling
reputation in the industry. We are honored that Royal Bank has chosen TSYS as
its processor of choice. We look forward to a long and mutually beneficial
relationship based on the innovative solutions provided by our TS2 Cardholder
System."
TS2 is the complete rewrite of TSYS' Cardholder System. The card processing
system offers exceptional levels of service and performance beyond any
application in today's card processing domain.
Executive Vice President Mark K. Tonnesen of Royal Bank of Canada said, "We
went through an exhaustive research and evaluation process before choosing TSYS.
This partnership creates a win-win situation for Royal Bank, our clients and
TSYS. It will enhance our ability to offer our cardholders new and innovative
products in a timely manner."
--more--
TSYS Further Expands International Presence /p.2
TSYS' processing agreement with Royal Bank is conditional upon receipt of
regulatory approval from Canada's Office of the Superintendent of Financial
Institutions.
Headquartered in Columbus, Ga., TSYS is one of the world's largest credit,
debit, commercial and private-label card processing companies, serving
card-issuing institutions throughout the United States, Puerto Rico, Canada and
Mexico, representing more than 91 million cardholder accounts. TSYS provides a
comprehensive on-line system of data processing services marketed as THE TOTAL
SYSTEM(R). In 1996, TSYS formed a joint venture with Visa(R) U.S.A. to create
Vital Processing Services L.L.C. (www.vitalps.com), a leading full-service
merchant services provider. TSYS' 1996 revenues totaled $311.6 million; the
company is an 80.7 percent owned subsidiary of Synovus Financial Corp. (NYSE:
"SNV") (www.synovus.com), a $9.0 billion asset, multi-financial services company
and a component of the Standard and Poors 500 Index. Synovus also includes 34
banking affiliates in four Southeastern states, a full-service brokerage firm, a
comprehensive trust services provider and a mortgage services company. TSYS'
Internet address is www.totalsystem.com.
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