An increase in transaction volume and new accounts fueled a small increase in third-quarter revenue for Total Systems Services Inc., or TSYS, the company announced Tuesday.
The Columbus, Ga., payments processor reported $459.7 million in total revenue for the quarter ended Sept. 30, up 6.1% from $433.2 million during the same period last year. Net income was up 27.1%, to $58.1 million from $45.7 million.
For North America, TSYS increased revenue 5.4%, to $243.9 million from $231.5 million. Accounts on file increased 16.4%, to 341.9 million from 293.8 million, while transaction volume rose 13.3%, to 1.87 billion from 1.65 billion.
International Services generated a 17% increase in revenue, to $99.8 million from $85.3 million. Accounts on file rose 11.2%, to 50.5 million from 45.4 million, while transaction volume increased 11.6%, to 360.5 million from 322.9 million.
Merchant Services reported a 6% decrease in point-of-sale volume, to 1.26 billion transactions from 1.34 billion.
