Expanding its merchant acquiring services portfolio,
Total System Services Inc.
) announced a long-term alliance with Texas-based Anovia
Payments. However, the terms of the partnership were not
Overall though, Total System plans to manage the payments of
Anovia, who deals with any form of single-source payments through
cash in person, online or while travelling. With a rich
experience of 75 years, Anovia has established itself in the
industry with a high-class technology platform to help its
clients procure money through smooth, transparent and secure
The alliance blends well with Total System's integrated
merchant acquiring platform that offers a high-class customer
experience through its upgraded technology and point-of-sale
authorization capacities. Moreover, the new contract will enhance
Total System's payment volumes and a number of processed
transactions, thereby supporting its financials.
Total System has been strengthening its clientele by offering
customized and flexible processing solutions to all its partners,
primarily in the merchant acquiring space. So far in 2013, the
company has bolstered its contract portfolio by the processing
contract attainment from KeyBank, LINK, Nationwide Building
Society, Qatar National Bank, KBC Bank Ireland and Payment
Alliance International, among others.
Further, in an attempt to gain edge in the peer group, Total
System has been diversifying its service portfolio to tap sound
growth opportunities in the prepaid card industry. In this
context, the company acquired NetSpend Holdings in July this
year. The acquisition is expected to be accretive to operating
leverage and core synergies, also validated by the recently
Overall, we believe such inorganic growth strategies bode well
for Total System's long-term growth, the fruits of which are
likely to be reflected in the financial results of the upcoming
Along with Total System,
Fleetcor Tech Inc.
) carries a Zacks Rank #1 (Strong Buy). Other strong performers
in the financial sector include
Official Payments Holdings
), both of which carry a Zacks Rank #2 (Buy).
FLEETCOR TECH (FLT): Free Stock Analysis
OFFICIAL PAYMNT (OPAY): Get Free Report
TOTAL SYS SVC (TSS): Free Stock Analysis
XOOM CORP (XOOM): Free Stock Analysis Report
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