Global Cash Access ("GCA"), a wholly owned subsidiary of Global Cash Access Holdings ("Holdings") (NYSE:GCA), today announced that it has executed a Processing Services Agreement with Tsys Acquiring Solutions ("Tsys").
GCA will use TSYS' processing services to connect with card associations and electronic funds transfer networks to complete ATM cash withdrawals, credit card cash advances and POS debit card transactions initiated by the patrons of GCA's casino customers. TSYS will provide processing services for the majority of GCA's world-wide operations.
"TSYS' provision of our processing services will provide GCA with the sophisticated processing platform capabilities we need to support our customers as well as ongoing technology innovations. We are very excited about these new products and believe that they will help gaming operators lowers costs, improve the players' experiences, and yield greater efficiencies to our casino customers. Our entry into the Processing Services Agreement with TSYS is a cornerstone of our development plans," said Scott Betts, GCA's President and Chief Executive Officer.
"TSYS' scalability, security and reliability have made us a payments industry leader. Combining the strength of TSYS with TransITTM and TranSendingTM - two cutting-edge Infonox products, - we have delivered unmatched gaming solutions in unprecedented timeframes," said Bob Philbin, president of TSYS Acquiring Solutions. "We are thrilled to be expanding our relationship with the gaming industry's market leader."
"This Processing Services Agreement is also central to GCA's transition from USA Payment Systems, a processing services company that is owned by GCA's founders," added Mr. Betts. "The execution of the processing services agreement with TSYS is the final - and very significant - step in our complete disassociation from GCA's founders and all of the entities they own or control."