Transaction Network Services, Inc. the leading provider of fast, reliable data communications services for transaction-oriented applications, and PaylinX Corporation, the leader in Enterprise Payment Solutions, Wednesday announced the release of the TransXpress. Net Gateway transport solution.
The integration of both companies core technologies has created an innovative Internet payment gateway enabling processors to gain higher transaction volumes from Web-centric merchants and save processors the cost of developing and integrating interfaces with a seemingly endless variety of payment engines.
“The open architecture of TransXpress.Net Gateway is a first for the industry and will serve as a great catalyst for e-commerce payments over the Internet. Processors no longer need to devote any IT resources toward modifying their existing host applications or reconciling interface issues as new and more complex e-commerce software applications are brought to market,” said Brian Bates, senior vice president and general manager of TNS’ POS division.
The TransXpress.Net Gateway, residing on the TNS private network, which is linked to virtually all U.S. payment processors, provides message reformatting, protocol conversion, and data transport. The design enables merchants to leverage Internet connectivity for secure, scalable, and rapid payment processing and settlement, without requiring an understanding of disparate payment message formats used by processors and banks. The TransXpress.Net Gateway allows processors and banks to receive transactions from virtually all electronic commerce vendors without individually certifying and testing each merchant’s payment module.
“Most of today’s Internet payment gateways require a proprietary merchant payment interface. The PaylinX engine will provide processors an off-the-shelf solution for accommodating payment from a wide variety of e-commerce software application vendors. To begin transport via the Gateway, vendors need only acquire certification through TNS. We currently have commitments from GO Software, Inc. and the ICVERIFY unit of CyberCash, and we are working with Trintech and VeriFone to certify their virtual payment products on our new Gateway. Combine that caliber of e-commerce expertise with TNS network functionality and it becomes clear how compelling our offering is for the payment industry,” said Jack McDonnell, president and CEO of TNS.
“We are very pleased to announce our combined offering with TNS,” said Bob Lozano, President and CEO of PaylinX. “Continuing with our merchant-centric legacy, the TransXpress.Net Gateway empowers Internet merchants to do business with the processor of their choice regardless of their e-commerce software. The Gateway also opens new markets to processors by enabling an easy-to-install, scalable and high speed Internet payment solution.”
Ronald R. Nation, president of First Tennessee Merchant Services, Inc., a TNS customer said, “We are pleased to add TNS to our suite of Internet products. We commend TNS for their foresight in providing Internet transport of credit card transactions through the same back-end mechanism of dial transport. This provides a very efficient and cost-effective method for processing Internet transactions.”
Transaction Network Services, Inc. (TNS), headquartered in Reston, Virginia, provides data communications and e-commerce services for transaction-oriented applications. TNS is recognized as the preferred worldwide network for the credit card processing industry and the rapidly growing dial ATM industry. The company is listed on the New York Stock Exchange under the symbol TNI.
Additional company information is available on the TNS website at .
PaylinX Corporation is the leader in the Enterprise Payment Solution market and provides payment authorization, settlement and reporting across an entire enterprise. Only PaylinX provides a comprehensive payment solution that spans across an organization, from a web store-front to the point-of-sale to interactive voice response systems and call centers. PaylinX is headquartered in St. Louis, Missouri, and can be reached at (314) 692-0929 or http://www.paylinx.com.
The TNS statements and information contained in this news release that are not descriptions of historical fact may be deemed to be “forward looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act that involve a number of risks and uncertainties that could cause actual results to differ materially from those currently anticipated. These statements are based on assumptions and assessments made by TNS’ management in light of its experience and its perception of historical trends, current conditions, expected future developments and other factors it believes to be appropriate. The risks and uncertainties to which these statements are subject include, but are not limited to, customer demand, competition, technological factors including issues involving either TNS’, PaylinX’s or their customers’ technology, the risk of slowing or reversing growth in use of e-Commerce, ability to develop e-Commerce relationships with new or existing customers and changes in government regulation. Accordingly, there can be no assurance that the e-Commerce market for transaction services will continue to expand and develop, that TNS will be successful in its efforts to further penetrate this market or that the anticipated increase in transaction volumes and cost savings will be realized. See TNS’ reports filed with the SEC for additional discussion of these risks and other factors which may effect TNS’ services, operations, revenues and costs.
PaylinX(R) is a registered trademark and Enterprise Commerce, PaylinX for Site Server, Payment Pipes, Payment Router, PaylinX Internet Payment Server, PaylinX Enterprise Payment Server, Processor Cartridges, FraudSentry, the PaylinX logo and the phrase “Electronic Commerce Today” are trademarks of PaylinX Corporation in the United States and other countries. Other trademarks, service marks, and copyrights are the property of their respective owners.Details