TSYS Signs Spira de Mexico, Grupo Uno and Invex Joint Venture, for Card Processing and Portfolio Management Services
Columbus, Ga., Sept. 23, 2004 - TSYS announced the signing of a five-year agreement to process the start-up portfolio of Spira de México, S.A. de C.V., a newly formed joint venture company of Grupo Financiero Uno and Invex Grupo Financiero, S.A. de C.V. Under the terms of the agreement, Spira will also utilize TSYS risk management, portfolio management and reporting tools. In addition, TSYS de Mexico will support Spira's production, statement and card personalization needs out of its Toluca Mexico facility.
"After a thorough analysis of processing companies, we chose TSYS because of their commitment to the Mexican payments market and their proven leadership in helping banks our size maximize their card portfolios," said Juan Garay, Director General of Spira. "We feel TSYS will be a partner to our success as we grow our portfolio and increase our profitability."
"Since 1995, TSYS has been committed to the Mexican market. We are just as dedicated to this market today as we were nearly a decade ago when we entered it. We are excited to help Spira de Mexico capitalize on the growing card market as the Mexican economy continues to grow and improve," said M. Troy Woods, TSYS president and COO.
About Grupo Financiero Uno
Grupo Financiero UNO is the leading consumer credit, retail deposit, consumer loan and insurance products in Central America. For more information visit the corporate website www.grupo-uno.com.
Invex Grupo Financiero, S.A. de C.V. (BMV: INVEX.O) principal activities are private, corporate and investment banking, as well as stockbrokerage services in Mexico. For more information visit the corporate website www.invex.com
TSYS (NYSE: TSS) 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 81-percent interest in TSYS. For more information, contact email@example.com.