TNS has announced that it is now part of the Australian Payments Clearing Association’s (APCA) Community of Interest Network (COIN). This move will allow TNS to add to its client network, including endpoints, such as Cabcharge, but also require it to abide by certain polices and regulations.
APCA administers a single infrastructure system, the COIN network. The APCA sets the guidelines and policies that allow entities to join COIN. In effect, members must abide by a contract, which provides assurance to clients of those companies.
According to Lisa Shipley, EVP and managing director of TNS’ Payment Network Solutions: “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.”
COIN is a managed network for checks, direct credits and debits and card payments. Along with membership in COIN, TNS will benefit from participation in ACPA events and the relationships with other members.
“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,” said Shipley.