Press Release

Exhibit 99.1

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		Contact: Jane M. Elliott
		770-829-8234 Voice
		770-829-8267 Fax

For Immediate Release		investor.relations@globalpay.com

Global Payments Reports First Quarter Earnings

ATLANTA, October 2, 2008 — Global Payments Inc. (NYSE: GPN) today announced results for its fiscal first quarter ended August 31, 2008. For the first quarter, revenues grew 30 percent to $405.8 million compared to $311.0 million in the prior year. Excluding a prior period restructuring charge relating to a facility closure, diluted earnings per share grew 31 percent to $0.71 compared to $0.54 in the prior year quarter.

In accordance with GAAP, the prior year quarter included a restructuring charge (see attached reconciliation schedule). For the three months ended August 31, 2007, GAAP diluted earnings per share was $0.53.

During the first quarter, the company began assessing its operating performance using a new segment structure. The segments are now defined as North America Merchant Services, International Merchant Services, and Money Transfer (see attached segment schedule for historical financial results). The company made this change as a result of its June 30, 2008 completion of a joint venture with HSBC in the United Kingdom, in addition to anticipated future international expansion.

Comments and Outlook

Chairman, President and CEO, Paul R. Garcia, stated, “We are delighted with our strong first quarter financial performance. Our North America segment reported strong revenue and earnings growth primarily driven by successful pricing initiatives in Canada and a favorable foreign currency exchange benefit. International merchant services results were primarily driven by the favorable impact of our June 30, 2008 U.K. acquisition, in addition to a continued benefit

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GPN Reports First Quarter Earnings

October 2, 2008

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from our sales initiatives in our Asia-Pacific region and a favorable foreign currency benefit in the Czech Republic.”

“Based on these results, we are raising our annual revenue guidance to a range of $1,640 million to $1,680 million. This revenue guidance reflects an expected 29 percent to 32 percent growth versus $1,274.2 million in fiscal 2008. In addition, we are raising our annual diluted earnings per share guidance to a range of $2.37 to $2.45, or 20 percent to 24 percent growth versus $1.98 in fiscal 2008¹. Our fiscal 2009 guidance excludes the impact of restructuring and other charges, as well as the impact of future acquisitions, such as our recently announced agreement to acquire ZAO United Card Service in the Russian Federation,” said Garcia.

Conference Call

Global Payments will hold a conference call today, October 2, 2008 at 5:00 p.m. ET to discuss financial results and business highlights. Callers may access the conference call via the company’s Web site at www.globalpaymentsinc.com by clicking the “Webcast” button; or callers may dial 1-877-681-3378 and callers outside U.S. and Canada may dial 1-719-325-4771. The pass code is “GPN.” A replay of the call may be accessed through the Global Payments’ Web site through October 15, 2008.

¹	Fiscal 2008 diluted earnings per share was $2.01 on a GAAP basis, which includes restructuring and other charges, a favorable operating tax item, and an unfavorable foreign currency item. For more information, please see the company’s quarterly earnings press releases for fiscal 2008.

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GPN Reports First Quarter Earnings

October 2, 2008

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Global Payments Inc. (NYSE:GPN) is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Latin America, Europe, and the Asia-Pacific region. Global Payments offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. The company also provides consumer money transfer services from the United States and Europe to destinations in Latin America, Morocco, and the Philippines. For more information about the company and its services, visit www.globalpaymentsinc.com.

This announcement and comments made by Global Payments’ management during the conference call contain certain forward-looking statements within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including revenue and earnings estimates and management’s expectations regarding future events and developments, are forward looking statements and are subject to significant risks and uncertainties. Important factors that may cause actual events or results to differ materially from those anticipated by such forward-looking statements include the following: foreign currency risks which become increasingly relevant as we expand internationally, development difficulties, the effect of economic conditions and consumer spending, costs of capital, the ability to consummate and integrate acquisitions, and other risks detailed in the company’s SEC filings, including the most recently filed Form 10-Q or Form 10-K, as applicable. The company undertakes no obligation to revise any of these statements to reflect future circumstances or the occurrence of unanticipated events.

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UNAUDITED CONSOLIDATED STATEMENTS OF INCOME

GLOBAL PAYMENTS INC. AND SUBSIDIARIES

(In thousands, except per share data)


	Three Months Ended August 31,
	2008			2007
Revenues	$	405,757		$	310,980
Operating expenses:
Cost of service		144,177			116,309
Sales, general and administrative		168,483			127,436
Restructuring		—			1,003

		312,660			244,748

Operating income		93,097			66,232

Other income (expense):
Interest and other income		3,371			5,137
Interest and other expense		(2,404	)		(1,873	)

		967			3,264

Income before income taxes and minority interest		94,064			69,496
Provision for income taxes, net		(28,216	)		(23,783	)
Minority interest, net of tax		(8,321	)		(2,138	)

Net income	$	57,527		$	43,575

Earnings per share:
Basic	$	0.72		$	0.54

Diluted	$	0.71		$	0.53

Weighted average shares outstanding:
Basic		79,462			80,501
Diluted		81,106			81,907

CONSOLIDATED BALANCE SHEETS

GLOBAL PAYMENTS INC. AND SUBSIDIARIES

(In thousands)


	August 31, 2008		May 31, 2008
	(Unaudited)
Assets
Cash and cash equivalents	$	287,721	$	456,060
Accounts receivable, net		138,884		100,179
Claims receivable, net		1,852		1,354
Settlement processing assets		19,532		24,280
Inventory, net		6,576		3,821
Deferred income taxes		4,187		4,119
Prepaid expenses and other current assets		25,968		27,597

Current assets		484,720		617,410

Property and equipment, net		153,533		141,415
Goodwill		762,493		497,136
Other intangible assets, net		285,590		175,636
Other assets		13,422		14,310

Total assets	$	1,699,758	$	1,445,907

Liabilities and Shareholders’ Equity
Lines of credit	$	10,633	$	1,527
Current portion of term loan		25,000		—
Payable to money transfer beneficiaries		13,904		9,276
Accounts payable and other accrued liabilities		142,167		138,243
Settlement processing obligations		48,344		56,731
Income taxes payable		30,314		11,975

Current liabilities		270,362		217,752

Term loan		175,000		—
Deferred income taxes		70,780		75,001
Other long-term liabilities		14,752		11,612

Total liabilities		530,894		304,365

Commitments and contingencies
Minority interest in equity of subsidiaries		42,203		14,724

Preferred stock		—		—
Common stock		—		—
Paid-in capital		387,918		380,741
Retained earnings		677,806		621,875
Accumulated other comprehensive income		60,937		124,202

Total shareholders’ equity		1,126,661		1,126,818

Total liabilities and shareholders’ equity	$	1,699,758	$	1,445,907

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

GLOBAL PAYMENTS INC. AND SUBSIDIARIES

(In thousands)


	Three Months Ended August 31,
	2008			2007
Cash flows from operating activities:
Net income	$	57,527		$	43,575
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment		9,553			6,663
Amortization of acquired intangibles		7,243			3,566
Share-based compensation expense		3,291			3,147
Provision for operating losses and bad debts		5,614			5,926
Minority interest in earnings		8,357			2,050
Deferred income taxes		934			(1,089	)
Other, net		(266	)		(20	)
Changes in operating assets and liabilities, net of the effects of acquisitions:
Accounts receivable		(41,189	)		(12,116	)
Claims receivable		(5,445	)		(6,265	)
Settlement processing assets and obligations, net		(4,206	)		(569	)
Inventory		(2,500	)		(589	)
Prepaid expenses and other assets		2,502			(11,573	)
Payables to money transfer beneficiaries		4,628			1,355
Accounts payable and accrued liabilities		3,392			(1,044	)
Income taxes payable		18,339			5,122

Net cash provided by operating activities		67,774			38,139

Cash flows from investing activities:
Business and intangible asset acquisitions		(442,123	)		(2,625	)
Capital expenditures		(7,663	)		(9,605	)
Proceeds from sale of investment and contractual rights		5,737			—

Net cash used in investing activities		(444,049	)		(12,230	)

Cash flows from financing activities:
Net borrowings on lines of credit		9,106			133
Proceeds from term loan		200,000			—
Proceeds from stock issued under share-based compensation plans		2,910			2,321
Tax benefit from share-based compensation plans		976			2,831
Repurchase of common stock		—			(67,873	)
Dividends paid		(1,596	)		(1,622	)
Contribution from minority interest holder		8,857			—
Distributions to minority interests, net		(2,469	)		(2,372	)

Net cash provided by (used in) financing activities		217,784			(66,582	)

Effect of exchange rate changes on cash		(9,848	)		2,345

Decrease in cash and cash equivalents		(168,339	)		(38,328	)
Cash and cash equivalents, beginning of period		456,060			308,872

Cash and cash equivalents, end of period	$	287,721		$	270,544

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME

GLOBAL PAYMENTS INC. AND SUBSIDIARIES

Reconciliation to Exclude Restructuring Charges from Normalized Results

(In thousands, except per share data)


Three Months Ended August 31,	2008			2007
	GAAP			Normalized			Restructuring¹			GAAP
Revenues	$	405,757		$	310,980		$	—		$	310,980
Operating expenses:
Cost of service		144,177			116,309			—			116,309
Sales, general and administrative		168,483			127,436			—			127,436
Restructuring		—			—			1,003			1,003

		312,660			243,745			1,003			244,748

Operating income		93,097			67,235			(1,003	)		66,232

Other income (expense):
Interest and other income		3,371			5,137			—			5,137
Interest and other expense		(2,404	)		(1,873	)		—			(1,873	)

		967			3,264			—			3,264

Income before income taxes and minority interest		94,064			70,499			(1,003	)		69,496
Provision for income taxes, net		(28,216	)		(24,126	)		343			(23,783	)
Minority interest, net of tax		(8,321	)		(2,138	)		—			(2,138	)

Net income	$	57,527		$	44,235		$	(660	)	$	43,575

Diluted shares		81,106			81,907			—			81,907
Diluted earnings per share	$	0.71		$	0.54		$	(0.01	)	$	0.53

¹	Restructuring charges consist of employee termination benefits relating to a facility closure. Also reflects the related income tax benefit.

DILUTED EARNINGS PER SHARE GUIDANCE RECONCILIATION

GLOBAL PAYMENTS INC. AND SUBSIDIARIES


	Low End of Fiscal 2009 Guidance									High End of Fiscal 2009 Guidance
	Q1 Actual			Q2 - Q4 Forecast			Total Guidance			Q1 Actual			Q2 - Q4 Forecast			Total Guidance
Fiscal 2009 diluted earnings per share
Constant currency¹	$	0.68		$	1.73		$	2.41		$	0.68		$	1.81		$	2.49
Foreign currency impact²		0.03			(0.07	)		(0.04	)		0.03			(0.07	)		(0.04	)

GAAP/Normalized³	$	0.71		$	1.66		$	2.37		$	0.71		$	1.74		$	2.45

Growth compared to fiscal 2008
Constant currency¹		26	%		20	%		22	%		26	%		26	%		26	%
Foreign currency impact²		5	%		(5	)%		(2	)%		5	%		(5	)%		(2	)%

Normalized		31	%		15	%		20	%		31	%		21	%		24	%

Restructuring and other items⁴		3	%		(3	)%		(2	)%		3	%		(3	)%		(2	)%

GAAP		34	%		12	%		18	%		34	%		18	%		22	%


	Fiscal 2008
	Q1 Actual			Q2 - Q4 Actual		Total Actual
Fiscal 2008 diluted earnings per share
Normalized	$	0.54		$	1.44	$	1.98
Restructuring and other items⁴		(0.01	)		0.04		0.03

GAAP	$	0.53		$	1.48	$	2.01

¹	Reflects current period results on a pro forma basis as if foreign currency rates did not change from the comparable prior year period. The company added this disclosure in light of the recent volatility in the foreign exchange markets.

²	Reflects the impact of actual and forecasted changes in foreign currency rates from the comparable prior year period.

³	For fiscal 2009, GAAP results and Normalized results are assumed to equal each other. This assumption is subject to change based on the incurrence of unexpected non-recurring items during fiscal 2009.

⁴	For more information, please see our earnings press releases for each of these periods, which were included as exhibits to our respective Form 8-Ks furnished to the SEC.

SEGMENT INFORMATION

GLOBAL PAYMENTS INC. AND SUBSIDIARIES

(In thousands)


	Fiscal 2007 Total			Fiscal 2008															Fiscal 2009
	Fiscal 2007 Total			Q1			Q2			Q3			Q4			Total			Q1
Revenues:
United States	$	604,899		$	179,450		$	176,115		$	182,038		$	193,612		$	731,215		$	200,696
Canada		224,570			66,677			65,772			61,256			73,544			267,249			85,944

North America Merchant Services		829,469			246,127			241,887			243,294			267,156			998,464			286,640

Europe		51,224			13,775			14,135			14,455			17,413			59,778			61,602
Asia-Pacific		48,449			16,064			18,426			18,977			18,900			72,367			20,718

International Merchant Services		99,673			29,839			32,561			33,432			36,313			132,145			82,320

United States		115,416			29,581			28,415			28,007			33,016			119,019			29,380
Europe		16,965			5,433			5,913			5,908			7,347			24,601			7,417

Money Transfer		132,381			35,014			34,328			33,915			40,363			143,620			36,797

Total Revenues	$	1,061,523		$	310,980		$	308,776		$	310,641		$	343,832		$	1,274,229		$	405,757

Operating Income:
North America Merchant Services - Normalized	$	241,082		$	70,970		$	66,245		$	60,744		$	70,349		$	268,308		$	83,069
Non-Recurring Item¹		—			—			—			7,048			—			7,048			—

North America Merchant Services - GAAP		241,082			70,970			66,245			67,792			70,349			275,356			83,069

International Merchant Services		18,588			5,136			4,847			4,326			3,365			17,674			20,402
Money Transfer		14,476			3,722			1,239			1,156			7,518			13,635			4,478
Corporate		(52,969	)		(12,593	)		(13,586	)		(13,363	)		(14,447	)		(53,989	)		(14,852	)
Restructuring and Other²		(3,088	)		(1,003	)		(314	)		—			—			(1,317	)		—

Operating Income	$	218,089		$	66,232		$	58,431		$	59,911		$	66,785		$	251,359		$	93,097

¹	Relates to the favorable impact of a non-recurring, non-cash operating tax item of $7.0 million in the third quarter of fiscal 2008.

²	For more information, please see our earnings press releases for each of these periods, which were included as exhibits to our respective Form 8-Ks furnished to the SEC.

EFFECTIVE TAX RATE INFORMATION

GLOBAL PAYMENTS INC. AND SUBSIDIARIES

(In thousands)


	Fiscal 2007 Total			Fiscal 2008															Fiscal 2009
	Fiscal 2007 Total			Q1			Q2			Q3			Q4			Total			Q1
Effective Tax Rate Calculation-GAAP
Income before income taxes and minority interest	$	226,331		$	69,496		$	61,902		$	62,480		$	67,525		$	261,403		$	94,064
Minority interest, net		(9,910	)		(2,138	)		(2,566	)		(3,160	)		(197	)		(8,061	)		(8,321	)
Tax provision (benefit) on minority interest		696			88			(524	)		506			(770	)		(700	)		(35	)

Income before income taxes	$	217,117		$	67,446		$	58,812		$	59,826		$	66,558		$	252,642		$	85,708

Provision for income taxes, net	$	73,436		$	23,783		$	21,023		$	19,265		$	26,517		$	90,588		$	28,216
Tax provision (benefit) on minority interest		696			88			(524	)		506			(770	)		(700	)		(35	)

Provision for income taxes	$	74,132		$	23,871		$	20,499		$	19,771		$	25,747		$	89,888		$	28,181

Effective tax rate		34.1	%		35.4	%		34.9	%		33.0	%		38.7	%		35.6	%		32.9	%

Effective Tax Rate Calculation-Normalized¹
Income before income taxes and minority interest	$	229,419		$	70,499		$	62,216		$	55,432		$	69,195		$	257,342		$	94,064
Minority interest, net		(9,910	)		(2,138	)		(2,566	)		(3,160	)		(197	)		(8,061	)		(8,321	)
Tax provision (benefit) on minority interest		696			88			(524	)		506			(770	)		(700	)		(35	)

Income before income taxes	$	220,205		$	68,449		$	59,126		$	52,778		$	68,228		$	248,581		$	85,708

Provision for income taxes, net	$	74,438		$	24,126		$	21,129		$	16,936		$	26,868		$	89,059		$	28,216
Tax provision (benefit) on minority interest		696			88			(524	)		506			(770	)		(700	)		(35	)

Provision for income taxes	$	75,134		$	24,214		$	20,605		$	17,442		$	26,098		$	88,359		$	28,181

Effective tax rate		34.1	%		35.4	%		34.8	%		33.0	%		38.3	%		35.5	%		32.9	%

¹	For a reconciliation of GAAP to Normalized results, please see our earnings press releases for each of these periods, which were included as exhibits to our respective Form 8-Ks furnished to the SEC.