Initial purchase: 1/6/2015
Cost basis $33.80
Current Portfolio Status: Hold
Dividend Reinvestment: N
Dividends paid quarterly in Jan, Apr, Jul, Oct
Shares held on account with Motif
Total System Services, Inc. provides electronic payment processing services to banks and other financial institutions in the United States and internationally. It operates through four segments: North America Services, Merchant Services, International Services, and NetSpend. The company offers issuer account and card solutions, including processing the card application, initiating service for the cardholder, processing each card transaction for the issuing retailer or financial institution, and accumulating the account’s transactions; fraud management services for monitoring the unauthorized use of accounts; fraud detection systems for identifying fraudulent transactions; and other services, such as customized communications to cardholders, information verification associated with granting credit, debt collection, and customer service. It also provides processing services, acquiring solutions, related systems, and integrated support services, which include processing various payment forms comprising credit, debit, prepaid, electronic benefit transfer, and electronic check; authorization and capture of transactions; clearing and settlement of transactions; information reporting services related to transactions; merchant billing services; and point-of-sale equipment sales and service. In addition, the company issues general purpose reloadable and payroll cards, as well as offers alternative financial services to underbanked consumers in the United States; and transaction processing, disaster recovery, and other services for banks and bankcard issuers in China. Total System Services, Inc. provides its services through online accounting and electronic payment processing systems. The company was founded in 1982 and is based in Columbus, Georgia.
Reason for holding: Owns NetSpend (pre-paid cards), as of Dec 22, 2015 has partnership with Shopkeep (pre-IPO) terms unknown.
Relationship: BAC, USB, WFC
February 22, 2016