Open Solutions Inc.®, a leading provider of integrated enabling technologies for financial service providers throughout Canada, the United States and other international markets, has decided to partner with Transaction Network Services (NYSE:TNS) to support Open’s payment transaction processing solutions in Canada.
Open Solutions selected TNS to provide secure payment network connectivity solutions to support its growing ATM and payment processing business. TNS currently supports the communication needs of over 100,000 ATMs around the globe through the highly secure and resilient TNS Secure Payment Network. This unique PCI certified network has been designed to improve security and deliver critical payment transaction information between merchants, banks, payment processors and other payment institutions.
Ray Low, President of TNS’ Payments Division, said: “With this agreement to use TNS’ Secure SSL Gateway and Dial services, Open Solutions now becomes one of our largest customers in Canada. Thanks to this important relationship and others, we are extremely well positioned to continue to grow our payment networking and gateway businesses in Canada.
“Open Solutions values TNS’ proven expertise in reliable and secure transaction delivery and we are pleased to partner with a leader in the Canadian market with a reputation for innovative solutions and exceptional customer service. Throughout North America, our Customers are recognizing the value of TNS’ unique combination of service quality and value, and as a consequence we are seeing our customers migrating more of their traffic onto TNS.”
Rob Palin, General Manager of Open Solutions’ Payment Solutions Group, said: “I’m delighted to be partnering with TNS to deliver our payment services and solutions to the Canadian market. TNS provides us with a scalable and secure payment network which can handle our growing volume of transactions. We see TNS as a company that is well positioned to partner with us to support our future direction.”
Open Solutions has served the Canadian financial services industry for more than 30 years, providing managed services that enable financial services companies to efficiently serve the needs of their customers. Known as a leading provider of ATM, credit and debit card services throughout Canada, Open Solutions is a Direct Connect member of the Interac Association, a national payment network that allows Canadians to access their money through automated banking machines and point-of-sale terminals across Canada.
TNS is a global provider of payment gateway and payment network connectivity solutions, connecting merchants and retailers to the world’s leading banks, acquirers and processors to enable secure, efficient and cost-effective delivery and processing of payments.
TNS’ Payments Division provides a wide array of end-to-end managed solutions designed specifically for the payments market, including solutions for acquirers, processors, merchants and other payment service providers. On behalf of these organizations each year, TNS manages over 15 billion payment transactions across the world and provides services and support to customers in over 60 countries.
For more information about TNS please visit www.tnsi.com
About Transaction Network Services
Transaction Network Services (TNS) is a leading global provider of data communications and interoperability solutions.
TNS offers a broad range of networks and innovative value-added services which enables transactions and the exchange of information in diverse industries such as retail, banking, payment processing, telecommunications and the financial markets.
Founded in 1990 in the United States, TNS has grown steadily and now provides services in over 60 countries across the Americas, Europe and the Asia Pacific region, with our reach extending to many more. TNS has designed and implemented multiple data networks which support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods.
For further information about TNS, visit www.tnsi.com.
Statements and information contained in our press releases and newsletters that are not descriptions of historical fact may contain forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond our control, which could cause actual results to differ materially from historical results or performance and from any opinions or statements expressed with respect to future periods.
About Open Solutions Inc.
Open Solutions Inc. helps community-based financial institutions succeed by providing essential technologies and insights that enable them to operate more profitably, efficiently and collaboratively. An international company with global reach, Open Solutions is a leading provider of banking system outsourcing to Canadian financial institutions and has served the Canadian financial services industry for more than 30 years. It provides and runs the complex systems that financial institutions rely on to serve their customers, people rely on to access their money and merchants rely on to make sales to their customers. A leader in the global payments market, Open Solutions’ Payment Solutions Group (PSG) develops, implements and supports state-of-the-art, industry-standard payment transaction processing solutions for financial institutions, ISOs, retailers and third-party organizations around the world. Open Solutions PSG has hundreds of clients in more than 15 countries and counts many top-tier banks and bank consortia around the world as payment application clients.
For more information about Open Solutions, visit Open Solutions at www.opensolutions.com. You can also fan Open Solutions on www.facebook.com/opensolutionsinc or follow Open Solutions via Twitter@OpenSolutionsCC.
Open Solutions Inc.® is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners.
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