Transaction Network Services (TNS) is giving the payments industry efficient, secure and reliable connectivity to the Australian Payments Clearing Association’s Community of Interest Network (COIN).
TNS’ successful bid to join the COIN enhances TNS’ already extensive network to include many new financial host endpoints, such as Cabcharge, that demonstrate a strong preference for or mandate the use of the COIN as a means of connecting.
Lisa Shipley, Executive Vice President and Managing Director of TNS’ Payment Network Solutions, said: “We’re delighted to be making this strategic move and helping to streamline Australia’s payments infrastructure with cost-effective connectivity to the COIN.
“This network includes some unique endpoints that cannot be accessed via other means, placing a burden on companies to build and maintain connections themselves. We’re happy to be relieving this pressure and providing a reliable, secure and scalable alternative. We are already in negotiations with a number of companies looking to use TNS for this alternative.”
The COIN is a high availability, managed network for multi-lateral secure transmission of payments files and messages. It supports cheques, direct credits and debits, and card payments.
Ms Shipley added: “Securing membership of the COIN was straightforward as our range of solutions already met or exceeded the minimum connectivity standards required. We are also pleased to announce that this move makes us an affiliate member of the Australian Payments Clearing Association and we are looking forward to joining their forums, committees and discussions around regulatory and other issues.”
TNS provides access to over 400 payments-specific endpoints globally, including major card schemes, acquirers, processors and banks. The company is a Level 1 PCI DSS certified service provider and its secure network is supported 24x7x365 by TNS’ Network Operating Centres around the world. Near real-time visibility, monitoring and reporting is provided via TNSOnline.