Canadian Tire Retail and TSYS Form Strategic Partnership
Columbus, Ga., Aug. 26, 2002 - Canadian Tire Retail, a division of Canadian Tire Corporation, Limited, has partnered with TSYS®, a provider of electronic payment services, to convert its existing paper gift certificates to electronic gift cards. This new card-based program provides Canadian Tire customers with more convenience and a perfect solution for gift-giving.
Under the agreement, services already provided by TSYS to Canadian Tire Financial Services will be extended to integrate the existing electronic payment system with a new gift card system. The TSYS Retail Gift Platform will enable Canadian Tire Retail to increase customer loyalty, as well as increase sales and merchandising opportunities.
"Canadian Tire recognizes the dual benefits of using the TSYS Retail Gift Platform, which will reduce its program expenses and offer more conveniences to Canadian Tire customers," said Debra Wohlrab, group executive of TSYS Integrated Payments. "Through their network of more than 450 stores, Canadian Tire Retail is poised to become one of the leading gift card-issuing retailers in North America."
"TSYS takes a creative approach to understanding our business and to supporting our customer-driven strategies," says Mark Foote, president, Canadian Tire Retail. "We see the Retail Gift Platform as a complement to the work we're doing to simplify business operations and to deliver even more in the way of innovative products, services and convenience for customers."
Canadian Tire has worked with TSYS since 1998, when Canadian Tire Financial Services converted its private label and MasterCard accounts from an in-house system to the TS2® processing system by TSYS. Canadian Tire is Canada's most-shopped retailer, with more than 1,000 stores and gas bars across the country. Canadian Tire Associate Stores are located to serve 85 percent of the Canadian population. More than half of Canadians shop at Canadian Tire on a monthly basis, and nearly 80 percent have been in a Canadian Tire store in the past six months.
"Our relationship with Canadian Tire has expanded to virtually every aspect of its payments strategy," said Rick Ussery, chairman of the board and CEO of TSYS. "Our focus on servicing the unique needs of Canadian Tire has earned the opportunity to work on more of its business."
About Canadian Tire
Canadian Tire Corporation, Limited (TSX: CTR.a, CTR) operates an inter-related network of businesses engaged in retail, financial services and petroleum. Canadian Tire Retail, with more than 450 stores across Canada, is the country's most-shopped retailer, offering a unique mix of products and services through three specialty categories in which the organization is the market leader - automotive, sports and leisure and home products. Canadians also have the opportunity to shop online at www.canadiantire.ca. PartSource is an automotive parts specialty chain with 30 stores designed to meet the needs of major purchasers of automotive parts - professional automotive installers and serious do-it-yourselfers. Canadian Tire Financial Services manages related financial products and services for retail and petroleum customers, and also markets other value-added products to our customers. Canadian Tire Petroleum is the country's largest and most productive independent retailer of gasoline, with more than 200 outlets. Mark's Work Wearhouse Ltd. is a specialty retail organization that operates more than 300 stores in Canada. More than 45,000 Canadians work across the Canadian Tire organization from coast-to-coast in the corporation's retail, financial services, petroleum and apparel businesses.
TSYS (NYSE: TSS) (www.tsys.com) brings integrity and innovation to the world of electronic payment services as the integral link between buyers and sellers in this rapidly evolving universe. Synovus (NYSE: SNV) owns an 80.8-percent interest in TSYS. For more information, contact email@example.com.
TSYS Media Relations
Leo S. Berard
TSYS Investor Relations
Sr. Director, Corporate Affairs
Canadian Tire Corporation