Transaction Network Services (TNS) announces it has agreed to acquire unattended and eCommerce payments specialist ADVAM in a transaction which strengthens TNS’ core payment capabilities and which will allow TNS to further target the payments market across the United States, Europe and Asia Pacific regions.
Headquartered in Adelaide, Australia, ADVAM is one of the world’s leading providers of unattended payments and eCommerce solutions to the parking, airport, shopping center, government and self-service sectors. ADVAM processes millions of transactions and reservations daily in over 20 countries.
“This is an important strategic acquisition for TNS as it helps us to expand both our and ADVAM’s operations and capabilities. ADVAM’s unique set of feature-rich unattended and eCommerce solutions complement our portfolio of services, giving customers of both companies access to a broader set of payments and connectivity functionality from a single supplier,” said TNS’ Chief Executive Officer, Mike Keegan.
“The unattended payment terminals and eCommerce markets are primed for continued growth as consumers embrace the convenience, flexibility and speed these facilities offer. An independent research study recently found that 46% of consumers use their credit/debit cards at unattended car parking meters, kiosks or exit barriers, and a significant number are willing to use wearable devices or digital wallets at these locations. We are excited to further build upon our payments capabilities with this acquisition.”
ADVAM, which has been a customer of TNS in the UK since 2011, will expand its services globally through access to TNS’ extensive connections with banks, acquirers and processors, TNS’ local expertise and knowledge in the numerous markets TNS serves and TNS’ additional value-added services, such as encryption and tokenization.
ADVAM’s Chief Executive Officer, Jose Da Silva said: “We’re delighted to join the TNS family as ADVAM has always been focused on delivering market leading solutions and excellent customer service. These same qualities are a hallmark of TNS.
“Becoming part of TNS strengthens our offering to existing customers and gives us a springboard for growth. TNS is the perfect partner for ADVAM due to its reputation, specialist capabilities, strong customer base and solid history as a trusted supplier. We look forward to working together.”
The acquisition, which is now pending regulatory approval, gives TNS additional offices in Australia, New Zealand, the UK and the US. Approximately 110 ADVAM employees will be joining the company. Complemented by TNS’ Network Operating Centers in the US, UK and Australia, ADVAM will continue to provide 24x7x365 support to all of its customers.
Contributed | what does this mean?