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
November 24, 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 November 24, 1997, Total System Services, Inc. ("Registrant")
announced the signing of a seven year processing agreement with Canadian Tire
Acceptance Limited of Welland, Ontario to process its credit card portfolio.
On November 25, 1997, Registrant announced the signing of a six year
processing agreement with Winston Salem, North Carolina-based BB&T Corporation
to process its credit card portfolio.
A copy of Registrant's press releases regarding the announcements
referenced above are attached hereto as Exhibits 99.1 and 99.2, respectively,
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, November 24, 1997
99.2 - Registrant's press release, November 25, 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: November 25, 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 November 24, 1997
99.2 Registrant's
press release
dated November 25, 1997
4
For Immediate Release
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Contacts:
<S> <C> <C>
Danita Gibson-Lloyd Scott Bonikowsky Virginia Lewis
Corp. Communications. Mgr. Senior Director, Corp. Communications Senior Account Executive
Total System Services, Inc. Canadian Tire Corporation, Limited Ketchum Public Relations
(706) 649-5578 (416) 480-8570 (404) 877-1842
[email protected] [email protected]
</TABLE>
Total System Services, Inc. Signs Canadian Tire for Card Processing
Expands International Presence
TSYS to Process More than Six Million Private-label & MasterCard Cards for
Canada's Fifth Largest MasterCard Issuer
Columbus, Ga., Nov. 24, 1997 -Today, Total System Services, Inc.(R), (TSYS(R))
(NYSE - "TSS"), announced the signing of a long-term card processing agreement
with Canadian Tire Acceptance Limited (CTAL) to process its more than six
million private-label and MasterCard cards. These accounts will be converted to
TSYS' state-of-the-art TS2(R) Cardholder System.
A wholly-owned subsidiary of the country's largest hardgoods retailer,
CTAL is the fifth largest MasterCard issuer in Canada. With 431 stores across
Canada, the store retailer enjoys a large and loyal clientele that has bolstered
its store card and its MasterCard product.
TSYS President Philip W. Tomlinson said, "Total System Services is
delighted to partner with an organization of Canadian Tire Acceptance Limited's
caliber. CTAL has a very strong portfolio which has shown remarkable strength
and flexibility in the marketplace. It is our desire to help Canadian Tire
Acceptance continue to prosper by offering innovative and technologically sound
solutions, such as our Year 2000 compliant TS2 system, that will help the
company meet its business objectives. We look forward to a long, mutually
beneficial relationship."
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.
"The Total System TS2 processing and software platform will help build
upon our proven capabilities of providing innovative products and services to
Canadians by
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enabling us to quickly and flexibly design new credit card products, enhance
existing offerings, and increase our level of customer service," says Tom Gauld,
President, Canadian Tire Acceptance Limited. "We are especially pleased that
Total System Services, a world-class company, has chosen Welland Ontario as the
site for their first Canadian subsidiary office. This relationship is a big win
for our company, our customers and the Niagara region."
-- more -
TSYS Signs Canadian Tire Acceptance for Card Processing/p.2
Located in Welland, Ontario, Canadian Tire Acceptance Limited (CTAL) is
a wholly-owned subsidiary of Canadian Tire Corporation, Limited. CTAL currently
provides a variety of credit and other financial services to more than 6 million
Canadian Tire customers. Services include the Canadian Tire Credit Card, the
Options MasterCard, the Canadian Tire AutoClub, a Long Distance Savings Plan and
a selection of insurance products.
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 located 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 that 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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[GRAPHIC OMITTED]
For Immediate Release
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Contacts:
<S> <C> <C> <C>
Total System Services, Inc. BB&T Corporation
Danita Gibson-Lloyd Virginia Lewis Scott Qualls Jason Reed
Corporate Communications Mgr. Senior Account Executive Senior Vice President Public Relations
Total System Services, Inc. Ketchum Public Relations BB&T Corporation BB&T Corporation
(706) 649-5578 (404) 877-1842 (919) 246-4919 (910) 733-2206
[email protected] [email protected] [email protected] [email protected]
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TSYS to Provide Card Processing for BB&T Corporation
BB&T to Move Card Issuance from North Carolina to Georgia
COLUMBUS, Ga., Nov. 25, 1997 - Total System Services, Inc. (R), (TSYS(R))
(NYSE:"TSS") today announced the signing of a multi-year contract to provide
credit, debit and commercial card processing for Winston Salem, N.C.-based BB&T
Corporation. The bank will convert its one million accounts to TSYS'
state-of-the-art Year 2000 compliant TS2(R) Cardholder System.
TSYS President Philip W. Tomlinson said, "We appreciate the confidence
BB&T has placed in us to meet its business needs and are certain that they will
enjoy the benefits of our leading-edge systems and solutions. We look forward to
helping them prosper in this highly competitive environment."
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.
"TSYS offers high quality innovative card processing services," said
Scott Qualls, senior vice president and manager of BB&T's Revolving Credit
Department, "Their addition to BB&T's team will allow us to continue providing
world-standard client service for all our bankcard and debit card clients."
BB&T also announced its intention to move its state of issuance for
bankcard and merchant businesses to Georgia. BB&T is in the process of applying
with the appropriate state and federal authorities. BB&T currently operates
these businesses out of North Carolina.
Exhibit 99.2
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-- more --
TSYS Signs Branch Banking and Trust For Card Processing/p.2
BB&T Corporation (NYSE: "BBK"), a multi-bank holding company with $27.2
billion in assets, operates 485 banking offices in 256 cities in North Carolina,
South Carolina and Virginia. BB&T is a full-service commercial and retail bank
that also offers additional financial services, such as insurance, investments,
leasing and trust. More information on BB&T is available at the bank's website,
www.BBandT.com.
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 located 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 processing company. 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 that 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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