During the corresponding time, Total System Services Inc recorded a revenue increase by 2.77 % year on year, sequentially revenue grew by 0.09 %. While revenue at the Total System Services Inc 's corporate clients
Total System Services Inc's Comment on Sales, Marketing and Customers
A significant amount of our revenues is derived from long-term contracts with
large clients.
In order to provide our Visa, MasterCard, American Express and Discover transaction
processing services, we must be either a direct participant or be registered
as a merchant processor or service provider of Visa, MasterCard, American Express
and Discover. Registration as a merchant processor or service provider is dependent
upon our being sponsored by member banks of these credit card companies. If
our sponsor banks should stop providing sponsorship for us, we would need to
find another financial institution to provide those services or we would need
to attain direct participation, either of which could prove to be difficult
and expensive. If we are unable to find a replacement financial institution
to provide sponsorship or attain direct participation, we may no longer be able
to provide processing services to the affected customers, which would have a
material adverse effect on our business and results of operations.
