TSYS And NetSpend: An Alliance To Bring Them To The Top Of Prepaid
Last week TSYS made headlines with the announcement of its acquisition of prepaid card provider NetSpend. MPD CEO Karen Websterspoke with Troy Woods, President and COO of TSYS, and Dan Henry, CEO of NetSpend, to find out more about what motivated the acquisition, what it means for TSYS to acquire a consumer brand, and what NetSpend will bring to TSYS’ foothold on prepaid.
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President and Chief Operating Officer of TSYS
Troy Woods, president and chief operating officer of TSYS, has been a critical influence in the company's strategic decisions for the past two decades. Woods has been involved in directing the company's international expansion, strategic planning activities, negotiations with major clients, and the continual improvement of TS2, the company's core payments engine. Under Woods' leadership, the company has expanded to Canada, Mexico, Europe, Brazil and the Asia-Pacific.
Woods started his career at Columbus Bank and Trust Company (Columbus, Ga.) in 1970, working part-time in the bankcard department and eventually becoming a vice president. He left the company in 1977 to become a senior vice president for consumer lending with AmSouth Bank in Birmingham, Ala. He rejoined TSYS in 1987.
Woods is a member of the TSYS Board of Directors, and also serves on the Board of Directors for the companies that comprise TSYS' Merchant Services Segment. Woods serves on the Board of Directors for several civic organizations as well, including the YMCA of Metropolitan Columbus (Ga.), West Georgia Honor Flight and the Greater Columbus Georgia Chamber of Commerce. He is also a member of the Board of Trustees for Columbus State University and the River Center for the Performing Arts in Columbus, Georgia.
Woods earned a bachelor's degree from Columbus State University (Columbus, Ga.), and also graduated from the University of Virginia's Graduate School of Retail Bank Management and Louisiana State University's School of Banking of the South.
CEO of NetSpend
Dan is well known throughout the financial services industry as an entrepreneur, investor and long-time champion for the underbanked. A pioneer in the field, he co-founded Euronet Worldwide, a global leader in processing secure electronic financial transactions. He established the company's first European office in Budapest, Hungary, and led the development of its European business. He served as the firm's President andChief Operating Officer until the end of 2006, and maintained a position on its Board until his appointment as CEO of NetSpend in 2008. When Dan stepped down from his executive role, Euronet had annual revenues in excess of $600 million, a market capitalization of $1 billion and operated 26 offices in 23 countries, staffed by more than 1,100 employees. Today, Dan is passionate about NetSpend's opportunity to provide empowerment tools to underbanked U.S. consumers.
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