TSYS forms new division to introduce credit card program

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Oct 15, 2009 (Datamonitor via COMTEX) -- TSS | Quote | Chart | News | PowerRating -- Total System Services, or TSYS, has formed a new division, TSYS Program Solutions, to provide credit card programs for regional and community financial institutions - both banks and credit unions - in the US.

TSYS said that it will provide the program development, implementation and ongoing delivery to make it easy for smaller banks to enter or re-enter the credit card market.

The new division will be led by Wayne Johnson, Andrew Mathieson, Patrick Fox, Fred Grigsby III, and George Whitley.

Mr Johnson, who has more than 25 years of senior executive experience in the financial services industry, founded start-up bankcard issuing and consulting companies both in the US and internationally. He served in senior positions at First Data, Providian Financial, Visa USA and First Interstate Bancard.

Most recently, Mr Mathieson was the chief warrant officer and founder of Fintura. Prior to his role at Fintura, he was a managing director of InfiCorp Holdings, a wholly owned subsidiary of First National of Nebraska.

Mr Fox has held various senior executive level positions including executive vice president of business development for Metris Companies, as well as roles with Citibank, Bank of America and Bank One's AARP Credit Card Program.

Previously, Mr Grigsby was chief marketing officer at Fintura. Prior to joining Fintura, he has held senior marketing positions with FleetCor Technologies, First National Bank of Omaha and its Atlanta affiliate InfiCorp Holdings, Wachovia Bank Card Services and Bank One.

Most recently as executive vice president, Mr Whitley was accountable for Fintura's business performance and analysis functions. Prior to joining Fintura, he held positions with First National Bank of Omaha and its Atlanta affiliate InfiCorp Holdings, as well as Prudential Bank and Trust and The New York Stock Exchange.

Philip Tomlinson, chairman of the board and CEO of TSYS, said: "Over a period of years, the top issuers competed aggressively with marketing techniques, such as mass solicitations and teaser rates, to gain greater market share to the point that many smaller banks felt they couldn't effectively compete. Recent regulatory changes have altered the landscape and we believe the case for re-entry is there if we can demonstrate a compelling and profitable business case.

"The solution offers an alternative to the traditional agent-bank relationships that exist today. Through the solution, we have solved the problem of start-up costs and created a win-win for the financial institutions and for TSYS."

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