Patty Watson had a tenured career in the banking and payments industry before becoming a senior executive with TSYS. Her path included a 15-year stint with a financial institution that she found to be instrumental in developing her career as an innovator.
Total System Services is implementing software at Walmart and Sam's Club locations nationwide to link loyalty rewards to health care payments, while also recognizing qualified purchases from a consumer's health plan.
In a move designed to strengthen its capabilities for integrated payments, processor and technology provider Total System Services has agreed to acquire Cayan for $1.05 billion. The news shortly follows another deal valued in the billions — Thales agreeing to buy the chip maker Gemalto for $5.4 billion.
When Karim Ahmad arrived at TSYS last year as the new head of global product and innovation, he found a stolid company that still housed its data on the mainframe and was woefully out of step with the new era of digital payments.
Like all major and some tier-two U.S. payment processors, TSYS wants to participate in less competitive and higher growth markets overseas to sustain long-term growth, writes Eric Grover, a principal at Intrepid Ventures.