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In order to facilitate a smooth flow of operations for its clients across all its locations in Europe, Total System Services, Inc. (TSS - Analyst Report), announced the inauguration of the new customer care center in Milton Keynes, United Kingdom (“UK”). This center will be providing customer care solutions to all UK based clients and financial institutions.
The new center will be administered by TSYS Managed Services EMEA, a joint initiative by Total System and an IT solutions and service provider, Dimension Data. This will be the third center set up by the company in Europe and the second in UK after Coventry, UK; and Barneveld, Netherlands. This joint venture is also operational in Jamaica, the Philippines, Canada and the United States.
Such initiatives by the company are well in line with its growth strategy, wherein it works to provide better services to all its clients. Additionally, the company is expected to launch numerous services in Europe shortly.
The company’s competitors, Visa, Inc. (V - Analyst Report) and Fiserv, Inc. (FISV - Analyst Report) have also been aggressively expanding its geographic footprint and client base. Visa entered into a strategic alliance with DirectCash and Air Canada in order to strengthen its Canadian ties. It also entered into an agreement with Obopay Disbursements to pay out electronic funds to a prepaid card.
Fiserv's latest account processing portal, Cleartouch has been adopted by six financial institutions. Also, Navy Army Community Credit Union deployed Source Capture Solutions to ameliorate Navy Army’s total check deposit process besides furnishing better services to its customers.
The Zacks Consensus Estimates for Total System is currently pegged at 32 cents for the third quarter and $1.29 per share and full year 2012, reflecting a year-over-year increase of 5.2% and 12.2% respectively. Full year estimate is higher than the company’s guided range of $1.26–1.28.
Total System currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We also maintain a long-term Neutral stance on Total System’s shares.
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