TSYS Supports Apple Pay in the U.K.
09 June 2015 - 6:00AM
Business Wire
TSYS® (NYSE: TSS) announced today it will help support secure
transactions and facilitate enablement for issuers in processing
transactions from Apple Pay, the easy, secure and private way to
pay, when it launches in the U.K. next month.
Through TSYS Enterprise TokenizationSM, the company’s
plug-and-play tokenization solution, issuers as well as retailers
can take full advantage of Apple Pay. Payment card information will
be more secure for purchases made with Apple Pay online in apps and
via NFC enabled POS terminals.
Security and privacy is at the core of Apple Pay. When a credit
or debit card is added to Apple Pay, the actual card numbers are
not stored on the device, nor on Apple servers. Instead, a unique
Device Account Number is assigned, encrypted and securely stored in
the Secure Element on the consumer’s mobile device. Each
transaction is authorized with a one-time unique dynamic security
code, instead of using the security code from the back of the
payment card.
TSYS’ solutions support Apple Pay, the multiple parties in the
payments ecosystem and the consumers they serve. Bank card issuers
and consumers will all benefit from TSYS’ solutions that support
secure payments and commerce.
The adoption of digital payments is on the rise. In the U.K.
alone, mobile payments are projected to rise to £53.6 billion
($70.61B) in the next ten years, and 75 percent of the U.K.
population is expected to have a smartphone by 20191.
“TSYS’ support of Apple Pay is a landmark opportunity for us and
demonstrates our people-centered approach to payments for all
parties in the payments ecosystem,” said M. Troy Woods, chairman,
president and chief executive officer, TSYS. “Our number one
priority is security for the banks and retailers we serve, so their
customers can conduct their lives with confidence and convenience.
Apple Pay will change the face of the mobile payments industry and
our role in the digital marketplace.”
For more information about Apple Pay, visit:
http://www.apple.com/apple-pay/.
1
http://www.pymnts.com/in-depth/2015/how-uk-consumers-use-mobile-to-shop/
About TSYS
At TSYS® (NYSE: TSS), we believe payments should revolve around
people, not the other way around. We call this belief
People-Centered Payments®. By putting people at the center of every
decision we make, TSYS supports financial institutions, businesses
and governments in more than 80 countries. Through NetSpend®, A
TSYS Company, we empower consumers with the convenience, security,
and freedom to be self-banked. TSYS offers issuer services and
merchant payment acceptance for credit, debit, prepaid, healthcare
and business solutions.
TSYS’ headquarters are located in Columbus, Ga., U.S.A., with
local offices spread across the Americas, EMEA and Asia-Pacific.
TSYS is a member of The Civic 50 and was named one of the 2015
World’s Most Ethical Companies by Ethisphere magazine. TSYS
routinely posts all important information on its website. For more,
please visit us at www.tsys.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150608006524/en/
TSYS Media RelationsCyle Mims,
+1-706-644-3110cylemims@tsys.comorTSYS Investor RelationsShawn
Roberts, +1-706-644-6081shawnroberts@tsys.com
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