Transaction Network Services has launched two new products, TNS Connect and TransXpress Connect, to open its private IP-based network to the ATM industry.
TNS Connect is a dedicated, private IP-based network that facilitates secure transactions among ATMs and processor hosts. TransXpress Connect allows companies to plug their older ATMs into TNS' IP-based network without incurring the cost to upgrade legacy hardware and software, a figure TNS estimates to be $3,000-$4,000 per ATM.
TNS originally developed its private IP network to provide large brokerage firms in the United States and abroad with a secure, efficient means of clearing and moving funds. This new package now offers the same level of security assurance to the ATM industry, says the company.
Larry Crompton, senior vice president and general manager of the TNS point of services division, says the new product will enable the industry to take "a giant-step forward" in upgrading ATM network infrastructures.