Tyler Technologies Extends Contract for Payment Solutions in the State of Texas

Rhea-AI Summary

Tyler Technologies (NYSE: TYL) has secured a three-year extension of its payment services contract with Texas, enhancing a 13-year partnership. This agreement integrates Tyler's Data & Insights platform, facilitating advanced analytics for payment processing. Since September 2018, Tyler's NIC Division has processed over 73.5 million transactions worth more than $5.69 billion for the state. The secured services include Level 1 PCI compliance and comprehensive transaction management, streamlining government interactions for over 306 entities in Texas.

Positive

• Three-year contract extension with Texas strengthens long-term partnership.
• Integration of Data & Insights platform enhances payment processing capabilities.
• Over 73.5 million transactions processed since September 2018, totaling over $5.69 billion.

Negative

• None.

Three-year agreement integrates Tyler’s Data & Insights platform with payment services

PLANO, Texas--(BUSINESS WIRE)-- Tyler Technologies, Inc. (NYSE: TYL) today announced that the state of Texas has extended its contract for Tyler’s payment services. The three-year agreement builds upon the existing 13-year relationship with Tyler’s NIC Division.

Serving Texans since 2009, Tyler’s NIC Division provides payment processing and settlement services for 235 Texas.gov applications, enabling online payments and over-the-counter credit, debit, and Automated Clearing House (ACH) payments on behalf of 306 government entities.

As part of the new agreement, Tyler will integrate its Data & Insights platform into the payment processing and settlement services, bringing advanced analytics to the solution, allowing clients to easily digest information and better understand customers' transactions.

“The Department of Information Resources’ drive to modernize the interaction between government and Texans continues to benefit people and businesses across the state,” said Patrick Wood, general manager of NIC Texas. “To be able to participate in making the daily lives of Texans easier and more efficient is a win-win.”

Tyler payment services through NIC feature:

• Secure Level 1 payment card industry (PCI) services
• Full visibility of the transaction lifecycle
• Low-code and fully integrable design
• Automated support for CPA’s Uniform Statewide Accounting System, Accounting Policy statement (APS) 029, and CAPPS refund processing
• Complete transaction management and reporting
• Configurable interfaces that enable a common look and feel with existing websites

Since September 1, 2018, Tyler’s NIC Division has securely processed more than 73.5 million transactions totaling more than $5.69 billion for the state of Texas.

About Tyler Technologies and NIC

Acquired by Tyler Technologies (NYSE: TYL) on April 21, 2021, NIC is a leader in digital government solutions and payments, partnering with government to deliver user-friendly digital services that make it easier and more efficient to interact with government. NIC and Tyler are united in their mission to empower public sector entities to operate more efficiently and connect more transparently with their constituents and with each other. Tyler has more than 37,000 successful installations across more than 12,000 locations, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler has been recognized numerous times for growth and innovation, including Government Technology's GovTech 100 list and Forbes' "Most Innovative Growth Companies" list. More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220412005080/en/

Jennifer Kepler

Tyler Technologies

972.713.3770

Media.team@tylertech.com

Source: Tyler Technologies, Inc.

FAQ

What does the new agreement between Tyler Technologies and Texas entail?

The new agreement extends Tyler's payment services for three years, integrating its Data & Insights platform into the service.

How long has Tyler Technologies been working with Texas?

Tyler Technologies has been providing payment services to Texas for 13 years, starting in 2009.

What are the benefits of Tyler's payment services in Texas?

Tyler's payment services provide secure processing, visibility of transactions, and advanced analytics for better understanding of customer transactions.

How many transactions has Tyler processed for Texas?

Since September 2018, Tyler has processed over 73.5 million transactions totaling more than $5.69 billion.

What industries does Tyler Technologies serve?

Tyler Technologies primarily serves public sector entities, providing digital solutions and payment services.