Source: Transaction Network Services
Transaction Network Services (TNS), Inc. (NYSE:TNS), the global leader in the delivery of business critical, time sensitive transaction data, today announced a two-year contract with GlobalCollect, the leading payment service provider, to provide connectivity between the international payment services company and acquiring banks.
Following a successful one-year trial, TNS will administer a managed IP VPN solution providing connectivity to TNS' international network. A second back-up connection has been installed to safeguard continuity of business and provide a reliable service to GlobalCollect's customers.
GlobalCollect provides payment processing services for transactions made online, by telephone and by mail order.
"As the business has grown and the number of acquirers we are linked to has expanded, it has become advantageous to partially outsource the management of multiple connections and connectivity," said Ron Vollebregt, Chief Operational Officer of GlobalCollect. "TNS' network offers us a secure and efficient way of connecting to many of the world's leading acquiring banks."
"This and other recent contracts signal a move amongst banks, acquirers and payment service providers towards outsourcing as an effective means of transporting payments data," said Jim Payens, Vice President, TNS Netherlands. "With the internationalization of payments, we are seeing a growing number of organizations such as GlobalCollect turn to third-party networks to connect them to retail customers, intermediaries and acquiring banks anywhere in the world."