TSYS Analyst Day May 13, Total System Services, Inc. Proprietary. All rights reserved worldwide.

Similar documents
TSYS Analyst Day May 20, Total System Services, Inc. All rights reserved worldwide.

2016 FIRST QUARTER. April 26, Total System Services, Inc. Proprietary. All rights reserved worldwide.

2016 FOURTH QUARTER AND FULL YEAR

2017 SECOND QUARTER. July 25, Total System Services, Inc. Proprietary. All rights reserved worldwide.

2018 Third Quarter October 23, 2018

2017 FOURTH QUARTER. January 23, Total System Services, Inc. Proprietary. All rights reserved worldwide.

WELCOME. TSYS Investor Day. May 24, Total System Services, Inc. Proprietary. All rights reserved worldwide.

2018 FIRST QUARTER. April 24, Total System Services, Inc. Proprietary. All rights reserved worldwide.

Green Dot Corporation Investor Presentation. Second Quarter 2012

TSYS Financial Highlights (unaudited) (in thousands, except per share data)

TSYS Financial Highlights (unaudited) (in thousands, except per share data)

CPI Card Group Inc. Reports Fourth Quarter and Full Year 2016 Results

Vantiv Investor Presentation

Investor Presentation First Data Corporation. All Rights Reserved.

CPI Card Group Inc. Reports Fourth Quarter and Full Year 2015 Results

In the third quarter, total revenue of $5.3 billion was flat from the prior year or down 1 percent in constant currency.

ACI Worldwide (ACIW) May/June 2015

ACI Worldwide (ACIW) Conferences 2016

Roper Technologies, Inc. EPG Annual Spring Conference

ACI Worldwide (ACIW) BAML 2014 Leveraged Finance Conference

Forward Looking Statements

FINANCIAL OVERVIEW. Jim Groch. Chief Financial Officer

Copyright 2018 CPI Card Group. Fourth Quarter & FY 2017 Earnings Conference Call March 12, 2018

INVESTOR PRESENTATION

FOR IMMEDIATE RELEASE

Verisk Analytics Mark Anquillare Group Executive, Risk Assessment EVP and Chief Financial Officer

Financial and Operating Results. Second Quarter and First Half 2016

CDW. Investor Presentation. Winter/Spring 2019

2018 Second Quarter Financial Results

NLSN 4Q and FY 2011 Investor Presentation

FORWARD-LOOKING AND CAUTIONARY STATEMENTS

Raymond James 37 th Annual Institutional Investors Conference. March 8, 2016

MSCI Reports Financial Results for Fourth Quarter and Full-Year 2018

market share gains in key categories, according to Nielsen and The NPD Group. equipped with the tools to serve customers

News from Xerox. Xerox Reports Fourth-Quarter Earnings

February 21, Conduent Q4 & FY 2017 Earnings Results

SS&C Technologies (NASDAQ:SSNC)

INC Research Q4 & Full Year 2016 Financial Results. February 28, 2017

Q Results. May 2017

2016 Fourth Quarter Financial Results

Jefferies 2014 Global Technology, Media and Telecom Conference

WEX Second Quarter 2018 Earnings. August 2, 2018

Forward-Looking Statements

CDW Corporation. Webcast Conference Call February, CDW.com

Third Quarter 2018 Earnings Thursday, November 8, 2018

ACI Worldwide (ACIW) Investor Conferences

Q EARNINGS CONFERENCE CALL BILL NUTI, CHAIRMAN & CEO MARK BENJAMIN, PRESIDENT & COO BOB FISHMAN, CFO

Euronet Worldwide Reports Fourth Quarter and Full Year 2017 Financial Results

PITNEY BOWES ANNOUNCES SECOND QUARTER 2013 RESULTS

PTC PREPARED REMARKS FOURTH QUARTER AND FULL YEAR FISCAL 2017 OCTOBER 25, 2017

FOR IMMEDIATE RELEASE

2017 FIRST QUARTER INTERIM REPORT

Q Results. May 2018

INVESTOR PRESENTATION. Fall 2017

2018 Liberty Investor Meeting

News from Xerox. Xerox Reports Fourth-Quarter 2014 Earnings

ECOLAB SECOND QUARTER REPORTED DILUTED EPS $1.20 ADJUSTED DILUTED EPS $1.27, +13% FULL YEAR 2018 ADJUSTED DILUTED EPS FORECAST $5.

August 8, Conduent Q Earnings Results

Reconciliation of Non-GAAP Financial Measures. Adjusted Operating Income Reconciliation

1Q 2013 INVESTOR PRESENTATION

INVESTOR PRESENTATION. Nasdaq London Conference November 2016

ACXIOM ANNOUNCES FIRST QUARTER RESULTS. Total Revenue Grows 9% Year-over-Year. Enters Into Definitive Agreement to Sell Impact Business

Fourth Quarter 2015 Earnings Conference Call. March 3, 2016

2015 Business Update. Interface Systems Holdings, Inc. February 18, 2016

American Express. Financial Community Meeting. Kenneth I. Chenault Chairman and Chief Executive Officer

ACXIOM ANNOUNCES SECOND QUARTER RESULTS. Connectivity Posts Record Revenue and Double-Digit Segment Margin. Strengthens Full-Year EPS Guidance

Euronet Worldwide Reports Second Quarter 2018 Financial Results

Broadview Networks Holdings, Inc. Company Overview

2018 FOURTH QUARTER EARNINGS CALL

MSCI. J.P. Morgan Global High Yield & Leveraged Finance Conference Kathleen Winters, CFO. February 28, 2017

Acquisition of Dealer Inspire and Launch Digital Marketing

INVESTOR PRESENTATION DECEMBER 2018

INVESTOR PRESENTATION FEBRUARY 2019

INVESTOR PRESENTATION JUNE 2018

ECOLAB THIRD QUARTER 2018

PTC SECOND QUARTER FISCAL 2017 PREPARED REMARKS APRIL 19, 2017

First Data Reports Second Quarter 2014 Financial Results

Aon plc. First Quarter 2017 Results May 9, 2017

Consolidated Income Statements SAP Group 2nd Quarter

Q financial & business update. April 26, 2017

Investors Presentation. Second Quarter 2016 Results August 3, 2016

Stifel Investor Conference

Q Results November 2016

Q Earnings Conference Call

1Q19 Financial Results. April 18, 2019

INVESTOR PRESENTATION Worldpay, Inc. All rights reserved.

Q Results. November 2018

First Data Reports Fourth Quarter and Full Year 2017 Financial Results

Investor PRESENTATION. May Conrad Bora Bora Nui, French Polynesia

FY2018 RESULTS PRESENTATION 27 August 2018

Investors: Michael D. Neese VP, Investor Relations (804)

Third Quarter 2018 Financial Results. July 27, 2018

First Data Reports Second Quarter 2011 Financial Results

INVESTOR PRESENTATION FEBRUARY 2016

3 RD QUARTER 2013 RESULTS CONFERENCE CALL & WEBCAST

2Q17 EARNINGS AUGUST 2017

Q EARNINGS 8/1/2018 CONFERENCE CALL. Copyright 2017 ARRIS Enterprises, LLC. All rights reserved

ADP Reports First Quarter Fiscal 2018 Results

F O U R T H Q U A R T E R R E S U L T S February 6, 2018

Knoll, Inc. Third Quarter 2016 Investor Presentation Knoll Inc.

Transcription:

TSYS Analyst Day May 13, 2014 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Forward-Looking Statements This presentation and comments made by management contain forwardlooking statements including, among others, statements regarding the expected future operating results of TSYS. These statements are based on management s current expectations and assumptions and are subject to risks, uncertainties and changes in circumstances. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words believe, expect, anticipate, intend, plan, potential, estimate or similar expressions. Actual results may differ materially from those set forth in the forward-looking statements due to a variety of factors. More information about these risks, uncertainties and factors may be found in TSYS filings with the Securities and Exchange Commission, including its 2013 Annual Report on Form 10-K. TSYS does not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise. 2 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Use of Non-GAAP Financial Measures This slide presentation contains certain non-gaap financial measures determined by methods other than in accordance with generally accepted accounting principles. Such non-gaap financial measures include the following: revenues before reimbursable items; operating margin excluding reimbursable items; revenues measured on a constant currency basis; free cash flow; EBITDA, adjusted EBITDA, adjusted cash earnings per share, adjusted segment operating income and adjusted segment operating margin. The most comparable GAAP measures to these measures are revenues; operating margin; revenues; cash flows from operating activities; net income; net income; earnings per share, operating income and operating margin, respectively. Management uses these non-gaap financial measures to assess the performance of TSYS core business. TSYS believes that these non-gaap financial measures provide meaningful additional information about TSYS to assist investors in evaluating TSYS operating results. These non-gaap financial measures should not be considered as a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures of other companies. The computations of the non-gaap financial measures used in this slide presentation are set forth in the Appendix to this slide presentation. 3 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Opening Comments Philip W. Tomlinson Chairman & Chief Executive Officer 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

2014 Strategic Update M. Troy Woods President & Chief Operating Officer 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Transformation Journey TSYS Revenue Mix and Customer Base Revenue Mix 2003 2008 2013* North America Merchant International NetSpend 9% 91% 16% 22% 21% 21% 63% 41% 16% Type of Customers Issuers Issuers and Acquirers Issuers, Acquirers, Merchants & Consumers # of Unique Customers ~200 ~400 ~2.9 million % of Revenue from Top 25 Relationships ~80% ~65% ~49% (*) Pro forma as though NetSpend had been acquired Jan 1, 2013 and with Japan reclassified as discontinued operations. 6 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Available Free Cash Flow Free Cash Flow Allocation: 2010-2013 7 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

People- Centered Payments 8 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

North America William A. Pruett President, North America Services 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

North America Segment Overview #1 Provider of processing & related solutions to North American Consumer & Commercial credit card issuers Key offerings & Target customers Solutions for Consumer and Commercial credit card issuers 3 rd party processing Credit, debit Call center services Card & print Loyalty solutions Customers are primarily banks, retailers and credit unions Solutions for healthcare prepaid card issuers Key Metrics ~120 Unique customers 495M Accounts on file ~5,000 Team members Segment Revenue by Line of Business* 23% 4% 73% Consumer (1) Commercial (2) Other (1) Includes Credit, Debit, Retail, Prepaid & Loyalty (2) Includes Healthcare 10 10 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Our Plan to Win GROW & EXECUTE Grow and perfect our market leading position in serving credit card issuers Complete conversion pipeline flawlessly and on time Pursue new big client wins Expand our clients use of existing offerings Continue to conquer complexity and improve efficiency INNOVATE Innovate and deliver new products and solutions for our clients Anticipate our clients needs and enhance the end-user experience with innovation and new product delivery Leverage our market share and distribution channel to cross-sell NetSpend solutions DIVERSIFY Pursue new business opportunities to expand in areas that will benefit our clients Explore expansion in new value chain areas to better serve issuers Expansion in growing or underpenetrated market segments 11 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

1Q 2014 North America Segment Highlights Improving revenue growth 6th Straight positive growth quarter Adjusted segment operating income up 8.5% Adjusted operating margin: 33.2% Chase license expiration Increased incentive pay Market salary adjustments ($ in millions) Segment Revenue* YOY Growth % $213.6 $214.5 $217.3 $223.3 $224.4 Adjusted Segment Operating Income Operating Margin* ($ in millions) $81.2 $81.3 $84.4 $87.1 $73.4 $71.5 $74.6 $68.7 $205.6 $203.5 $205.6 35.7% 35.2% 38.0% 33.4% 37.9% 38.9% 39.0% 33.2% 3.4% (1.3%) 1.9% 0.8% 4.4% 6.8% 4.5% 9.1% 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 (*) Revenues Before Reimbursable Items 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 12 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

1Q 2014 North America Segment Highlights Thirteenth straight quarter of account on file YOY growth Large account conversion pipeline Sixteenth straight quarter of transaction YOY growth Same client transactions up 12.9%: Eighteenth straight quarter of YOY growth (in millions) 387.3 413.4 Accounts on File YOY Growth % 424.8 422.8 430.7 461.4 481.9 495.5 (in millions) 2,003.8 2,036.6 Transaction Volume YOY Growth % 2,194.7 2,013.4 2,235.0 2,395.8 2,488.2 2,327.6 18.0% 20.9% 20.9% 16.9% 11.2% 11.6% 13.4% 17.2% * 7.2% 3.4% 5.5% 5.2% 6.3% 16.2% 16.5% 17.1% 12.1% 9.5% 12.7% 7.8% 11.5% 17.6% 13.4% 15.6% 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 (*) Growth Excluding Prepaid, Government Services and Single Use Accounts 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 13 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Segment Summary Market leader Strong conversion and sales pipeline Increased acquisition activity by current clients Opportunity for growth in new and existing markets Scale and reliability Intense focus on regulation and compliance Proven secure environment Customer service Tenured executive team and staff Industry leading customer service culture 14 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Merchant Mark D. Pyke President, Merchant Services 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Merchant Segment Overview - A Tale of Two Cities INDIRECT 1Q2014 Revenue Mix DIRECT Business model: 3rd Party processing Customer type: Bank & Non-bank acquirers Key metrics: ~200 Customers 24 of Top 25 acquirers 4.3B Annual POS transactions Indirect 43% Direct 57% Business model: Direct acquiring Customer type: Merchants Key metrics: 375K Merchant outlets $5.3B 1Q SBS sales volume ~15% of annual POS transactions Key capabilities/ Differentiators Full spectrum of acquiring functions Scale through single platform and shared data center Self enrollment and instant enablement High growth 1099 channel 16 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Market Overview - U.S. Acquiring Indirect industry size $0.5B, declining ~8% TSYS market share ~40% Why we remain committed to INDIRECT: Strong margins and cash flow to fund other TSYS investments Scale of Indirect business benefits our direct business (single platform) Source of lower risk M&A candidates for our Direct business Direct industry size $12.5B, growing 5-8% TSYS #11 Based on revenue, #7 Based on merchant outlets DIRECT industry dynamics: Bundled to unbundled pricing shift New models expanding addressable market while increasing competition Product and distribution critical to success 17 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Our Plan to Win Become a Top 10 global acquirer Make Direct 80% of segment revenue via M&A DIRECT Expand new business generation capacity Improve sales productivity of existing channels Develop new distribution channels INDIRECT Leverage technology and operational advantages Leverage single platform to support Direct Acquiring Business Increase client share of spend PRODUCT Deliver innovative product and service offerings Launch new products to capitalize on industry trends Enable new ways to accept payments 18 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

1Q 2014 Merchant Segment Highlights Direct revenue mix holds at 57% Direct revenues up 4.2% and Indirect revenues down 13.5% Anniversary of acquisitions Expanded CPay ownership to 75% Completed clearing & Settlement conversion Indirect 43% Direct 57% Segment Revenue by LOB ($ in millions) Indirect Direct $98 $98 $106 $109 $113 $114 $110 $104 $40 $50 $51 $57 $62 $63 $62 $59 45% 55% 26% 22% 4% Adjusted Segment Operating Income Operating Margin* ($ in millions) $38.7 $41.1 $37.7 $37.6 $41.3 $40.8 $36.0 $30.2 39.6% 38.2% 35.6% 34.4% 36.6% 35.9% 32.6% 28.8% $58 $58 $55 $52 $51 $51 $48 $45 (12%) (11%) (12%) (12%) (14%) 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 (*) Revenues Before Reimbursable Items 19 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Segment Summary Indirect Strong operating leverage with solid margins and cash flow Single, Scalable platform to power direct business Source for lower risk M&A candidates Direct Successful acquisition track record Innovative products to capitalize on industry trends Growth of Direct business via M&A to reduce drag of Indirect business Become a Top 10 global acquirer Make Direct 80% of segment revenue via M&A 20 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Break 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

International Gaylon Jowers Jr. President, International Services 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

International Segment Overview Business Model Channel for TSYS services outside North America Segment Revenue by LOB Processing, PRIME Licensing and Managed Services Customer Focus Top 100 Banks/Retailers Consumer Credit, Debit and Commercial Cards Key Metrics 14% 12% 74% Processing (74%) Licensing (14%) Managed Services (12%) 143 Clients/70+ Countries 29 Processing/114 Licensing Top 25 Clients ~ 75% of revenue 61M AOF/2B+ Transactions CUP Data ~ $10+M TSYS net income Processing/Operations scale Long-standing relationships Secure/Compliant delivery 23 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

2014 International Segment Highlights 1Q 2014 Financial Highlights Revenue $76.8M* Up 0.5% Down 4.6% on constant currency Historical Operating Margins (Adjusted for Japan exit) 2012 7.9% Dependable AOF growth, Despite client purging 2013 12.4% Irish debit AOF grew by 71.2% Double-digit transaction growth of 19.3% 2014 14.3% (Budget) Margin plan being delivered ($ in millions) $79.8 $77.3 $83.1 Segment Revenue* YOY Growth % $76.4 $76.6 $77.9 $90.6 $76.8 1Q 2014 1Q 2015 New Business 3 New processing contracts signed 7 Client renewals/extensions in negotiations Reported 5.6% 1.4% 1.1% (2.6%) (4.0%) 0.7% 9.0% 0.5% 3 Major product launches/start-ups planned Constant Currency 9.6% 4.4% 0.1% (0.9%) (1.0%) 3.1% 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 (*) Revenues Before Reimbursable Items 8.6% (4.6%) 3 Conversions scheduled Solid pipeline for 2015/Beyond 24 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Our Plan to Win Accelerate Growth Accelerate Change TS2 Processing Managed Services PRIME Licensing Japan Prime Processing Brazil TS2 European expansion Close sub-scale platforms Enhance VAP solutions/delivery Consolidate Prime Processing Expand PRIME Licensing margins Streamline Brazil operating model CUP Data/Partnerships/M&A Sell GP Net/Japan issuing 25 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Segment Summary Delivering our goals Multi-year operating margin targets being met Market leader in client engagement/satisfaction Strategic focus Streamline Prime Processing solutions Enhance PRIME Licensing LOB/Margins Partnerships Extend/Leverage CUP Data capabilities Selective new partnerships/m&a opportunities to diversify Growth agenda Expand TS2 processing addressable market/pipeline Implement enterprise-level product enhancements/investments 26 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

NetSpend Dan Henry Chief Executive Officer, NetSpend 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

NetSpend Segment Overview MISSION: Empower consumers with the convenience, security and freedom to be self-banked Key offerings & Target customers Open loop GPR & Commercial prepaid 68 Million underbanked/unbanked Self-banked consumer needs Maximize dollars earned and track funds Conducting personal financial business Financial security Simplify the financial relationships Key Metrics 2M DDA (90-day) 500+ AFS distributors 66K+ Distributing merchant locations 130K+ Reload locations 1,900 Employer relationships $6.6B Gross dollar volume 1Q2014 Key capabilities & Differentiators PRODUCT DISTRIBUTION FOCUS TECHNOLOGY 28 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Our Plan to Win Product innovation to maintain leadership PRODUCT Mobile-friendly suite of innovative features that are easy to use Acquire customers directly through partners DISTRIBUTION Ability to buy and reload anywhere our customers shop, live, work and play Loyalty and lifecycle marketing drives retention FOCUS Higher engagement in self-service behaviors that improve product experience and money management outcomes Technology and operations enable growth TECHNOLOGY Secure, reliable and convenient access to funds 29 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Business Development and Synergies Update ACTIVE DIRECT DEPOSIT ACCOUNTS (DDA) 1 (in thousands) 1,321 1,082 865 361 515 719 165 2007 2008 2009 2010 2011 2012 2013F 1 Number of active cards that have had a direct deposit load in the past three months (in millions) REVENUE $430.0 $128.6 $183.2 $225.0 $275.4 $306.3 $351.3 Cross-selling pipeline showing success 75 wins from North America and Merchant existing clients 2007 2008 2009 2010 2011 2012 2013F 30 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

The NetSpend Customer LIVE SHOP WORK PAYCHECK ALTERNATIVE: AMY Saves time and money with the Skylight ONE Card Does not want a traditional checking account Portable from one employer to the next No more payday check-cashing hassles Anytime Alerts give her a sense of control Payback Rewards treats her family to meals BANK ALTERNATIVE: RON Manages daily finances and plans for the future with the NetSpend Prepaid Card Budget-conscious, savvy mobile user Tries new features, gets paid faster Anytime, anywhere access from mobile app Direct Deposit, card-to-card transfers Budgeting and savings tools for future use CASH ALTERNATIVE: CURT Pays bills with the NetSpend Prepaid Card Does not qualify for traditional checking Needs a safe place for cash between bill payments Pays for just what he needs Can find reload locations near home and job Money back for mobile top-ups 31 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

1Q 2014 NetSpend Segment Highlights Direct deposit active cards up 21.2% Exceeded 2M for the first time in history Gross dollar volume (GDV) up 22.1% Record tax season Direct Deposit Active Cards YOY Growth % 2,070.3 Gross Dollar Volume YOY Growth % $6,567.2 (in thousands) 1,707.9 ($ in millions) $5,378.7 1,361.4 1,321.1 1,261.1 1,081.6 1,018.5 957.0 24.2% 24.8% 25.1% 66.7% 42.3% 23.8% 22.1% 21.2% $3,034.7 $3,089.8 $3,265.4 $3,947.9 $3,780.9 $3,967.6 17.1% 17.9% 18.2% 42.8% 30.1% 22.4% 21.5% 22.1% 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 32 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

1Q 2014 NetSpend Segment Highlights Revenue $132.6M up 13.1% Segment Revenue by Channel QTD Added 2K retail locations Added 70+ new PayCard clients Announced PayChex and Western Union 28% 12% 52% Partner Retail Direct partnerships 8% Paycard ($ in millions) Segment Revenue YOY Growth % $132.6 ($ in millions) Adjusted Segment Operating Income* Operating Margin* $117.3 $85.3 $84.9 $89.7 14.7% 14.2% 16.9% 28.3% $104.9 $103.7 $104.1 22.9% 22.2% 16.1% 13.1% $34.6 $31.7 $28.0 $29.3 $28.7 $25.7 $24.9 $23.9 30.1% 29.4% 26.7% 27.9% 33.4% 30.5% 23.9% 21.7% 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 (*NOTE: Periods prior to the acquisition by TSYS have been restated ) 33 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Segment Summary High growth market Strong tailwinds toward electronic forms of payment Large underpenetrated and underserved market Product differentiation and diversity of distribution channels Maintaining strong market position through investment in innovative products and expanding distribution RETAIL Emerging leader in prepaid cards sold through traditional retail merchants PARTNER DIRECT COMMERCIAL Market leader in prepaid cards sold through alternative financial service providers Market leader in prepaid cards sold through online and direct channels Leading corporate payroll card provider through Skylight Visa Prepaid Card 34 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Questions & Answer Panel Discussion 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Closing Comments Philip W. Tomlinson Chairman & Chief Executive Officer 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

2014 First Quarter Results April 22, 2014 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Forward-Looking Statements This presentation and comments made by management contain forwardlooking statements including, among others, statements regarding the expected future operating results of TSYS. These statements are based on management s current expectations and assumptions and are subject to risks, uncertainties and changes in circumstances. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words believe, expect, anticipate, intend, plan, potential, estimate or similar expressions. Actual results may differ materially from those set forth in the forward-looking statements due to a variety of factors. More information about these risks, uncertainties and factors may be found in TSYS filings with the Securities and Exchange Commission, including its 2013 Annual Report on Form 10-K. TSYS does not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise. 38 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Use of Non-GAAP Financial Measures This slide presentation contains certain non-gaap financial measures determined by methods other than in accordance with generally accepted accounting principles. Such non-gaap financial measures include the following: revenues before reimbursable items; operating margin excluding reimbursable items; revenues measured on a constant currency basis; free cash flow; EBITDA, adjusted EBITDA, adjusted cash earnings per share, adjusted segment operating income and adjusted segment operating margin. The most comparable GAAP measures to these measures are revenues; operating margin; revenues; cash flows from operating activities; net income; net income; earnings per share, operating income and operating margin, respectively. Management uses these non-gaap financial measures to assess the performance of TSYS core business. TSYS believes that these non-gaap financial measures provide meaningful additional information about TSYS to assist investors in evaluating TSYS operating results. These non-gaap financial measures should not be considered as a substitute for operating results determined in accordance with GAAP and may not be comparable to other similarly titled measures of other companies. The computations of the non-gaap financial measures used in this slide presentation are set forth in the Appendix to this slide presentation. 39 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

1Q 2014 North America Segment Highlights Improving Revenue Growth 6th Straight Positive Growth Quarter Adjusted Segment Operating Income Up 8.5% Adjusted Operating Margin: 33.2% Chase License Payments Expired Increased Incentive Pay Market Salary Adjustments Segment Revenue by Line of Business* 4% 23% 73% Consumer (1) Commercial (2) Other (1) Includes Credit, Debit, Retail, Prepaid & Loyalty (2) Includes Healthcare ($ in millions) Segment Revenue* YOY Growth % $213.6 $214.5 $217.3 $223.3 $224.4 Adjusted Segment Operating Income Operating Margin* ($ in millions) $81.2 $81.3 $84.4 $87.1 $73.4 $71.5 $74.6 $68.7 $205.6 $203.5 $205.6 35.7% 35.2% 38.0% 33.4% 37.9% 38.9% 39.0% 33.2% 3.4% (1.3%) 1.9% 0.8% 4.4% 6.8% 4.5% 9.1% 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 (*) Revenues Before Reimbursable Items 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 40 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

1Q 2014 North America Segment Highlights Thirteenth Straight Quarter of Account On File YOY Growth Large Account Conversion Pipeline Sixteenth Straight Quarter of Transaction YOY Growth Same Client Transactions Up 12.9%: Eighteenth Straight Quarter of YOY Growth (in millions) 387.3 413.4 Accounts on File YOY Growth % 424.8 422.8 430.7 461.4 481.9 495.5 (in millions) 2,003.8 2,036.6 Transaction Volume YOY Growth % 2,194.7 2,013.4 2,235.0 2,395.8 2,488.2 2,327.6 18.0% 20.9% 20.9% 16.9% 11.2% 11.6% 13.4% 17.2% * 7.2% 3.4% 5.5% 5.2% 6.3% 16.2% 16.5% 17.1% 12.1% 9.5% 12.7% 7.8% 11.5% 17.6% 13.4% 15.6% 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 (*) Growth Excluding Prepaid, Government Services and Single Use Accounts 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 41 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

1Q 2014 International Segment Highlights Revenue $76.8M* Up 0.5% Down 4.6% on Constant Currency Currency Tailwinds Continued Margin Improvement Focus Reemphasis on Accelerating Growth Japan Market Divestitures Segment Revenue by Region QTD 5% 6% 89% Europe MEA Rest Of World ($ in millions) $79.8 $77.3 $83.1 Segment Revenue* YOY Growth % $76.4 $76.6 $77.9 $90.6 $76.8 ($ in millions) Adjusted Segment Operating Income Operating Margin* $18.0 Reported Constant Currency 5.6% 1.4% 1.1% (2.6%) (4.0%) 0.7% 9.6% 4.4% 0.1% (0.9%) (1.0%) 3.1% 9.0% 8.6% 0.5% (4.6%) 12.2% 19.9% $9.2 $9.5 $6.8 $7.0 $7.7 $6.9 11.5% 8.9% 8.4% 9.0% 10.0% $4.6 5.9% 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 (*) Revenues Before Reimbursable Items 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 (NOTE: International numbers restated for Japan discontinued operations 42 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

1Q 2014 International Segment Highlights Strong AOF Growth, Despite Some Client Purging Irish Debit AOF Grew By 71.2% Double-digit Transaction Growth of 19.3% Same Client Transaction Growth of 17.3% (in millions) Accounts on File YOY Growth % 52.8 52.9 54.5 55.7 58.0 59.2 59.1 60.7 (in millions) Transaction Volume YOY Growth % 473.6 492.4 525.5 555.6 517.9 11.6% 5.7% 4.1% 3.7% 9.9% 12.1% 8.5% 8.9% 399.2 414.6 434.0 18.1% 15.9% 19.5% 14.2% 23.3% 26.7% 17.3% 19.3% 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 43 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

1Q 2014 Merchant Segment Highlights Anniversary of Acquisitions Completed Clearing and Settlement Conversion Direct Revenue Mix Holds at 57% Expanded CPAY Ownership to 75% Segment Revenue by Mix* QTD 57% 43% Direct Indirect ($ in millions) $97.7 Segment Revenue* YOY Growth % $107.8 $105.9 $109.3 $113.0 $113.6 $110.4 $104.6 ($ in millions) Adjusted Segment Operating Income Operating Margin* $38.7 $41.1 $37.7 $37.6 $41.3 $40.8 $36.0 $30.2 39.6% 38.2% 35.6% 34.4% 36.6% 35.9% 32.6% 28.8% 5.0% 15.6% 5.5% 11.1% 15.6% 5.4% 4.3% (4.3%) 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 (*) Revenues Before Reimbursable Items 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 44 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

1Q 2014 Merchant Segment Highlights Direct Revenues Up 4.2% Indirect Revenues Down 13.5% POS Transactions Increased 2.7%, Excluding Deconverted Accounts High Single-digit Direct Small Business Sales Volume Growth ($ in billions) SBS Sales Volume* YOY Growth % ($ in millions) Segment Revenue by LOB $3.8 $4.4 $4.7 $4.8 $5.3 $5.3 $5.2 $5.3 $40 $50 $51 $57 $62 $63 $62 $59 45% 55% 26% 22% 4% 12.3% 23.0% 32.2% 35.3% 40.6% 22.0% 11.1% 9.3% $58 $58 $55 $52 $51 $51 $48 $45 (12%) (11%) (12%) (12%) (14%) 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 (*) Excludes Managed Accounts 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 Indirect Direct 45 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

1Q 2014 NetSpend Segment Highlights Revenue $132.6M up 13.1% Segment Revenue by Channel QTD Added 2k Retail Locations Added 70+ New PayCard Clients Announced PayChex and Western Union 28% 12% 52% Partner Retail Direct Partnerships 8% Paycard ($ in millions) Segment Revenue YOY Growth % $132.6 ($ in millions) Adjusted Segment Operating Income* Operating Margin* $117.3 $85.3 $84.9 $89.7 14.7% 14.2% 16.9% 28.3% $104.9 $103.7 $104.1 22.9% 22.2% 16.1% 13.1% $34.6 $31.7 $28.0 $29.3 $28.7 $25.7 $24.9 $23.9 30.1% 29.4% 26.7% 27.9% 33.4% 30.5% 23.9% 21.7% 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 (*NOTE: Periods prior to the acquisition by TSYS have been restated ) 46 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

1Q 2014 NetSpend Segment Highlights Direct Deposit Active Cards up 21.2% Exceeded 2M for the first time in history Gross Dollar Volume (GDV) up 22.1% Record Tax Season Direct Deposit Active Cards YOY Growth % 2,070.3 Gross Dollar Volume YOY Growth % $6,567.2 (in thousands) 1,707.9 ($ in millions) $5,378.7 1,361.4 1,321.1 1,261.1 1,081.6 1,018.5 957.0 24.2% 24.8% 25.1% 66.7% 42.3% 23.8% 22.1% 21.2% $3,034.7 $3,089.8 $3,265.4 $3,947.9 $3,780.9 $3,967.6 17.1% 17.9% 18.2% 42.8% 30.1% 22.4% 21.5% 22.1% 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 47 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Consolidated Selected Financial Highlights (in thousands, except per share data) 1 St Qtr 2014 1 st Qtr 2013 Percent Change Total Revenues $592,848 $448,791 32.1% Revenues Before Reimbursable Items 532,750 388,032 37.3 Adjusted EBITDA* 149,596 123,446 21.2 Adjusted Cash EPS* from Continuing Operations $0.38 $0.38 (1.1) (*) Adjusted Cash EPS and Adjusted EBITDA definitions are contained in Appendix 48 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Segment Operating Margin and Consolidated Adjusted Operating Margin Three Months Ended March 31, 2014 (in thousands) Adjusted Segment Operating Income Revenues before Reimbursable Items Adjusted Operating Margin North America $74,578 $224,368 33.24% International 4,555 76,773 5.93% Merchant 30,168 104,625 28.83% NetSpend 28,717 132,640 21.65% Eliminations -- (5,656) Corporate administration excluding stock comp (24,144) -- Adjusted operating margin $113,874 $532,750 21.37% Amortization of acquisition intangibles (24,313) NetSpend M&A expenses (1,253) Stock-based compensation (7,611) Operating income (US GAAP) $80,697 49 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Rollforward of Quarterly Cash Balance (in millions) $500 $400 $300 Beginning Balance $248 Operating Activities $149 Cap Ex ($47) Debt Pmts ($22) Acquisition ($38) Dividends ($19) Other $3 Ending Balance $274 $200 $100 $0 12/31/2013 3/31/2014 50 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Cash Flow Strength: 2014 TTM Consolidated Financial Highlights (in millions) $750 $675 $600 $525 $450 $375 $300 $225 $150 $75 $0 $650 $549 $363 $249 $274 Adjusted EBITDA Cash flow from operations Free cash flow Net income Ending cash TTM = Trailing Twelve Months 51 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

2014 Revised Guidance* (in millions, except per share data) Range Range Percent Change Total Revenues $2,422 to $2,471 17 % to 20% Revenues Before Reimbursable Items $2,182 to $2,226 20% to 22% Adjusted EBITDA $732 to $746 17% to 20% Adjusted Cash EPS from continuing operations $1.90 to $1.93 10% to 12% Average Basic Weighted Shares 188.4 (*) See Appendix for guidance assumptions 52 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Appendix 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Appendix: Non-GAAP Items Adjusted EBITDA and Adjusted Cash EPS Adjusted EBITDA is net income excluding equity in income of equity investments, nonoperating income/(expense), taxes, depreciation, amortization and stock-based compensation expenses and other non-recurring items. Adjusted cash EPS is adjusted cash earnings divided by weighted average shares outstanding used for basic EPS calculations. Adjusted cash earnings is net income excluding the after-tax impact of stock-based compensation expenses, amortization of acquisition intangibles, and other non-recurring items. Adjusted segment operating income is operating income at the segment level adjusted for acquisition intangible amortization. Adjusted segment operating margin is adjusted segment operating income divided by segment revenues before reimbursable items. The Company believes that these non-gaap financial measures it presents are useful to investors in evaluating the Company s operating performance for the following reasons: adjusted EBITDA and adjusted cash EPS are widely used by investors to measure a company s operating performance without regard to items, such as interest expense, income tax expense, depreciation and amortization, merger and acquisition expenses and employee stock-based compensation expense that can vary substantially from company to company depending upon their respective financing structures and accounting policies, the book values of their assets, their capital structures and the methods by which their assets were acquired; and securities analysts use adjusted EBITDA and adjusted cash EPS as supplemental measures to evaluate the overall operating performance of companies. By comparing the Company s adjusted EBITDA and adjusted cash EPS in different historical periods, investors can evaluate the Company s operating results without the additional variations caused by employee stock-based compensation expense, which may not be comparable from period to period due to changes in the fair market value of the Company s common stock (which is influenced by external factors like the volatility of public markets and the financial performance of the Company s peers) and is not a key measure of the Company s operations. The Company s management uses the non-gaap financial measures: as measures of operating performance, because they exclude the impact of items not directly resulting from the Company s core operations; for planning purposes, including the preparation of the Company s annual operating budget; to allocate resources to enhance the financial performance of the Company s business; to evaluate the effectiveness of the Company s business strategies; and in communications with the Company s board of directors concerning the Company s financial performance. 54 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Appendix: Accounts on File Portfolio Summary (in millions) Mar 2014 Mar 2013 % Change Mar 2014 Dec 2013 % Change Consumer Credit 234.8 203.7 15.3 234.8 228.9 2.6 Retail 27.5 25.2 9.3 27.5 27.8 (0.9) Total Consumer 262.3 228.9 14.6 262.3 256.7 2.2 Commercial 40.4 37.9 6.7 40.4 39.9 1.2 Other 19.7 13.4 46.5 19.7 18.9 4.4 Subtotal 322.4 280.2 15.1 322.4 315.5 2.2 Prepaid */ Stored Value 120.0 107.3 11.8 120.0 118.0 1.7 Government Services 63.0 59.4 6.1 63.0 62.2 1.1 Commercial Card Single Use 50.8 31.6 60.8 50.8 45.3 12.2 Total AOF 556.2 478.5 16.2 556.2 541.0 2.8 (* - Prepaid does not include NetSpend accounts) 55 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Appendix: Non-GAAP Reconciliation Revenues Before Reimbursable Items (in thousands) Three Months Ended 03/31/14 03/31/13 Total Revenues $592,848 $448,791 Reimbursable Items 60,098 60,759 Revenues Before Reimbursable Items $532,750 $388,032 56 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Appendix: Non-GAAP Reconciliation Adjusted Segment Operating Income and Operating Margin (in thousands) Three Months Ended 3/31/14 3/31/13 Operating income $80,697 $74,520 Add: Acquisition intangible amort 24,313 8,532 Add: Corporate admin and other 33,008 30,193 Total segment adjusted operating income $138,018 $113,245 By segment: North America services (a) $74,578 $68,748 International services (b) $4,555 $6,861 Merchant services (c) $30,168 $37,636 NetSpend (d) $28,717 $-- Total revenues $592,848 $448,791 Reimbursable items (60,098) (60,759) Total segment revenues before reimbursable items $532,750 $388,032 Intersegment revenues 5,656 3,252 By segment: North America services (e) $224,368 $205,596 International services (f) $76,773 $76,387 Merchant services (g) $104,625 $109,301 NetSpend (h) $132,640 $-- Adjusted segment operating margin: North America services (a) / (e) 33.24% 33.44% International services (b) / (f) 5.93% 8.98% Merchant services (c) / (g) 28.83% 34.43% NetSpend (d) / (h) 21.65% na 57 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Appendix: Non-GAAP Reconciliation Constant Currency (in thousands) Consolidated: Three Months Ended 3/31/14 3/31/13 Percentage Change Constant Currency (1) $588,485 $448,791 31.1% Foreign Currency (2) 4,363 --- Total Revenues $592,848 $448,791 32.1% International Services: Constant Currency (1) $78,134 $80,891 (3.4%) Foreign Currency (2) 4,244 --- Total Revenues $82,378 $80,891 1.8% (1) Reflects current period results on a non-gaap basis as if foreign currency rates did not change from the comparable prior year period. (2) Reflects the impact of calculated changes in foreign currency rates from the comparable period. 58 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Appendix: Non-GAAP Reconciliation Constant Currency (in thousands) Consolidated: Three Months Ended 3/31/14 3/31/13 Percentage Change Constant Currency (1) $528,701 $388,032 36.3% Foreign Currency (2) 4,049 --- Revenues before reimbursable items $532,750 $388,032 37.3% International Services: Constant Currency (1) $72,843 $76,387 (4.6%) Foreign Currency (2) 3,930 --- Revenues before reimbursable items $76,773 $76,387 0.5% (1) Reflects current period results on a non-gaap basis as if foreign currency rates did not change from the comparable prior year period. (2) Reflects the impact of calculated changes in foreign currency rates from the comparable period. 59 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Appendix: Non-GAAP Reconciliation EBITDA and Adjusted EBITDA (in thousands) Three Months Ended Mar 2014 Mar 2013 Net income : As reported (GAAP) (a) $51,625 $59,149 Adjusted for: Deduct: Income from discontinued operations (980) (15) Deduct: Equity in Income of Equity Investments (4,096) (3,817) Add: Income Taxes 24,335 17,463 Add: Nonoperating expenses 9,813 1,740 Add: Depreciation and amortization 60,035 40,852 EBITDA $140,732 $115,372 Adjust for: Add: Share-based compensation 7,611 4,593 Add: NetSpend M&A expenses 1,253 3,481 Adjusted EBITDA $149,596 $123,446 60 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Appendix: Non-GAAP Reconciliation Adjusted Cash EPS (in thousands) Income from continuing operations available to TSYS common shareholders: Three Months Ended Mar 2014 Mar 2013 As reported (GAAP) (a) $49,321 $57,905 Adjusted for amounts attributable to TSYS common shareholders (net of taxes): Acquisition intangible amortization 15,813 5,492 Share-based compensation 5,017 3,148 Cash earnings $70,151 $66,545 NetSpend M&A expenses (nonrecurring) 1,204 5,222 Adjusted cash earnings (b) $71,355 $71,767 Average common shares outstanding and participating securities (c) 187,752 186,807 Basic EPS from continuing operations available to TSYS common shareholders (a) / (c) $0.26 $0.31 Adjusted cash EPS Available to TSYS common shareholders (b) / (c) $0.38 $0.38 61 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Appendix: Non-GAAP Reconciliation EBITDA and Adjusted EBITDA (in thousands) Trailing Twelve Months Ended 3/31/2014 Net Income $249,074 Adjusted for: Deduct: Discontinued operations (3,021) Deduct: Equity in Income of Equity Investments (13,327) Add: Income Taxes 218,210 Add: Nonoperating expense 38,097 Add: Depreciation and Amortization 117,854 EBITDA $606,886 Adjust for: Share-based compensation 31,950 NetSpend M&A Operating Expenses* 11,406 Adjusted EBITDA $650,243 * Excludes share-based compensation 62 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Appendix: Non-GAAP Reconciliation Free Cash Flow (in thousands) Trailing Twelve Months Ended 3/31/2014 Cash Flows from Operating Activities $548,668 Less: Purchase of Property and Equipment (47,757) Additions to Licensed Computer Software from Vendors (40,788) Additions to Internally Developed Computer Software (36,944) Additions to Contract Acquisition Costs (60,202) Free Cash Flow $362,977 63 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.

Appendix: 2014 Guidance Assumptions The guidance assumes: There will be no significant movements in the London Interbank Offered rate and TSYS will not make any significant draws on the remaining balance of its credit facility; There will be no significant movement in foreign currency exchange rates related to TSYS business; TSYS will not incur significant expenses associated with the conversion of new large clients other than included in the 2014 estimate, additional acquisitions, or any significant impairment of goodwill or other intangibles; There will be no deconversions of large clients during the year; There will be minimal synergies from the NetSpend acquisition for 2014; and The economy will not worsen. 64 2014 Total System Services, Inc. Proprietary. All rights reserved worldwide.