TSYS Introduces New Innovative Virtual Payment Solution
May 23 2016 - 9:00AM
Business Wire
Commercial virtual account solution reduces
fraud-related costs and encourages commercial card usage
TSYS (NYSE: TSS), the leading processor of commercial card
payments, today announced the launch of a new commercial payment
solution that will streamline business-to-business (B2B) virtual
payments and further enhance the ePayables process flow. TSYS
Virtual Payment PreceptSM (VPP) is an innovative new solution that
reduces risk, improves operational efficiency and greatly increases
control over accounts payable and accounts receivable payments and
reconciliation. VPP leverages existing TSYS technology with an
improved processing design to deliver secure, virtual single-use
accounts in real time with enhanced control over account and
transactional base parameters.
According to a recent report from the Association for Financial
Professionals, nearly 80 percent of companies are transitioning to
electronic payments for B2B transactions1.
“With increasing demand, it is vital to have the most secure and
cost efficient process in place to facilitate these transactions,”
said Scot Yarbrough, group executive of commercial services, TSYS.
“We have anticipated this need and delivered a solution that
enables our issuing clients to offer cutting edge technology to
their corporate customers. This new solution will provide the
proper scalability for the aggressive growth projected in this
market while leveraging TSYS’ proven security and reliability.”
TSYS VPP offers unparalleled authorization and decision controls
for buying organizations. For issuers, this can drive portfolio
growth, reduce fraud and increase revenue in the B2B space.
This product is currently available to commercial card issuers
across North America.
1Association For Financial Professionals, 2015 Payments Cost
Benchmarking Survey Key Findings
About TSYS
TSYS® (NYSE: TSS) unlocks opportunities in payments for payment
providers, businesses and consumers. Our headquarters are in
Columbus, Georgia, USA, and we operate in more than 80 countries
with local offices across the Americas, EMEA and Asia-Pacific.
We provide seamless, secure and innovative solutions across the
payments spectrum — from issuer processing and merchant acquiring
to prepaid program management — delivered through partnership and
expertise. We succeed because we put people, and their needs, at
the heart of every decision. It’s an approach we call
‘People-Centered Payments®’.
Our industry is changing every day — and we’re leading the way
toward the payments of tomorrow. We routinely post all important
information on our website. For more, visit us at tsys.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160523005046/en/
TSYS Media RelationsCyle Mims,
+1-706-644-3110cylemims@tsys.comorTSYS Investor RelationsShawn
Roberts, +1-706-644-6081shawnroberts@tsys.com
Total System Services (NYSE:TSS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Total System Services (NYSE:TSS)
Historical Stock Chart
From Apr 2023 to Apr 2024