Overview of TSYS
TSYS is an industry-leading financial services provider that emphasizes on payment processing and merchant services. The company cultivates trust by facilitating every aspect of the payment experience, transporting money and information from the moment a card is swiped till long after the transaction is complete. As a truly global operation, TSYS connects consumers, financial institutions, merchants, governments and businesses across the world with payment tools needed to conduct seamless transactions.
History of TSYS
TSYS was established in 1983 and has evolved from a modest roots as part of a local bank into one of the world’s leading credit card processors. The company serves over 650,000 merchants and processes more than 27 billion transactions annually. In 2019, TSYS was acquired by Global Payments Inc., in order to expand its electronic transaction processing services.
Typical Data Processed by TSYS
As a payment processor, TSYS handles sensitive data, including financial information like credit card details, as well as personal information of consumers such as names, addresses, and contact details. This also extends to business information of its merchant partners.
Operating Region of TSYS
TSYS operates on a global scale serving businesses in over 80 countries worldwide. The company has established a strong presence across North America, Europe, Asia-Pacific region and also in South America, providing extensive support to merchants around these regions.
Key Features of TSYS
TSYS offers exceptional credit card processing services that cater to small, medium, and large businesses. The company provides various payment solutions, from POS systems to integrated payments. Another significant feature is their fraud prevention and data security measures, which enables businesses to process sensitive financial data securely.
Importance of Monitoring and Comparing Vendors
From a data compliance perspective, monitoring and comparing vendors, including financial services providers like TSYS, can be crucial. This becomes especially important considering the large amount of sensitive both personal and financial data processed by these providers. A comparative analysis enables businesses to assess and ensure the vendor’s adherence to data protection standards and regulations, data handling practices and security measures. Opting for vendors with robust and reliable data governance helps businesses avoid data breaches, ensures compliance, and maintains brand integrity.