Aided by strong client transaction growth, Total System Services (TSS) reported that its first-quarter earnings rose more than 15%, to $56.4 million, from a year earlier.
The Columbus, Ga., company said Tuesday that its total revenue rose about 7%, to $461.2 million, year over year.
Its card issuer processing business rose roughly 14% from a year earlier while point of sale transactions climbed 11%, said Philip W. Tomlinson, chairman and chief executive of TSYS, in a news release. The sales volume from its direct merchant business was up almost 21%.
During the quarter TSYS signed new contracts with Huntington Bancshares (HBAN) and Regions Financial (RF) to process their credit card portfolios. It also renewed a long-term agreement with the Royal Bank of Scotland (RBS) for its U.K., Ireland and U.S. consumer credit and commercial businesses.
