Total System Services Inc. reported transaction and sales volume rose during the third quarter, contributing to increases in net income and revenue.
The Columbus, Ga.-based company said Oct. 23 its net income rose 7.5%, to $62 million in the third quarter from the same period a year earlier. Its revenue rose 1.8%, to $468.1 million.
Point of sale transactions rose 9.5%, the company said. Sales volume also rose in the direct merchant business, up 17.4%. And both International and North America issuer processing businesses gained 10.1% over last year, growing with same-client transactions.
“In August, TSYS formed a joint venture with Central Payment Co. LLC to further strengthen our sales distribution channels in the direct merchant business,” says Phil Tomlinson, chairman and chief executive officer at TSYS, in a press release.