TSYS is a merchant services provider and payment processing platform that is best for enterprise-level businesses that require an established processor. Its features include risk and compliance, reporting and analytics, clearing and settlement, authorization and capture, integrated mobile point-of-sale (mPOS), and payroll.
TSYS Pros and Cons
Ease of use
System performance can be glitchy
Seamless mPOS integration
Mixed reviews on customer support
Who TSYS Is Best For
- Those who run enterprise-level operations and are in need of an established processor: TSYS offers multiple pricing options, but it’s most beneficial for businesses that process over $30,000 per month.
TSYS’ pricing information is not readily available on its website. However, for reference, a third-party site states that TSYS has a virtual terminal rate that ranges from 1%–4.99% and the following card processing rates: 2.5% + 20 cents (swiped) and 3.5% + 20 cents (keyed-in). You may contact the provider to inquire.
TSYS Alternatives 2020
The company provides merchants with secure payment processing and transaction management solutions. Let’s take a look at some of TSYS’ features below.
Risk and compliance management: TSYS offers data security (format preserving encryption and triple data encryption standards), tokenization, fraud prevention, and merchant tax reporting.
Clearing and settlement solutions: The provider enables you to streamline back-office operations such as validation, delivery, merchant funding, billing, and reporting.
Dynamic currency conversion: You receive payment in your local currency while you enable your international customers to pay in theirs. This supports both Visa and Mastercard transactions.
Reporting and analytics: You can create custom reports, tables, and gain insight about your business through market trends and performance data. This function also gives you access to real-time historical information and client-directed alerts.
Payment card industry point-to-point encryption (PCI P2PE): This is the level of data encryption that TSYS offers. It ensures that all sensitive data are protected and that payment security is enhanced. Only P2PE devices are certified by the PCI security standards council.
Which Merchant Service Provider Is Best for You?
Summary of TSYS Reviews
As of this writing (July 22, 2020), there are only a few up-to-date TSYS reviews available online. A handful of reviewers said that the software is very easy to use, while others find that the system’s performance could be faster. If you are a past or current TSYS customer, then leave a review to help those who are deciding whether or not to use the platform.
TSYS Frequently Asked Questions (FAQs)
What industries does TSYS cater to?
Though it caters to almost every industry, TSYS is used mostly in the following: automotive, restaurant, retail, petroleum, convenience store, and healthcare among others.
What payment options does TSYS support?
TSYS supports Visa, Mastercard, American Express, PayPal, Discover, CUP, JCB, offline and PIN-based debit, EBT, gift cards, private-label retail, association-branded prepaid cards, and private-label prepaid cards.
How long does the payout process take?
It typically takes two days for transaction proceeds to reflect in your bank account, but it may take longer if you run a high-risk business.
Our Top Merchant Services Picks
If you aren’t sure if TSYS is right for you, then this article on the best merchant services providers for small businesses is a review of our top choices. Our team looked at a variety of solutions and narrowed our recommendations down based on the fees, ease of use, customer service, and features such as reporting tools among others.