Pendum

  • EPS acquires ATM terminal driving business from Transaction Network Services

WILMINGTON, Del. -- Electronic Payment Services (EPS) announced today the acquisition of Transaction Network Services, Inc.'s (TNS) ATM terminal driving business. The acquisition extends EPS' leadership in ATM terminal driving by adding more than 3,000 dial-up ATMs to its total base of 37,500. Dial-up ATMs, which are installed primarily in retail locations, currently account for 47% of the ATMs that EPS drives. "We are excited about this substantial addition to our ATM terminal driving business," said Richard Garman, president and CEO, EPS. "ATM terminal driving is an important core competency for us. The fact that TNS' terminal driving is largely in retail environments is a good fit with our focus on such merchant ATM deployments over the past two years. We look forward to extending our services and expertise to TNS' current clients." There are several benefits which TNS clients can start enjoying when they are converted to EPS later this fall. EPS has begun a program to offer electronic advertising at ATMs--a tremendous marketing opportunity for merchants. This will allow merchants to display specific marketing messages and print coupons at individual ATMs. EPS' leadership in ATM and POS Electronic Benefits Transfer (EBT) transactions is growing as quickly as new states are adding EBT programs. EBT transactions represent one of the fastest growing segments of electronic payment transactions. Additionally, EPS' national coverage will offer TNS clients access to every major debit and credit network. TNS obtained the ATM terminal driving business in its purchase of Suntech Processing Systems LLC in February 1998. "We were interested in Suntech for its network technologies," said TNS president and CEO John J. McDonnell, Jr. "The EPS transaction allows TNS to focus on providing network telecommunications technology to large ATM and POS processors like EPS. Our ATM processing customers will benefit from the wide range of products and services offered by EPS," added McDonnell. As announced earlier this month, EPS has also signed a long-term contract with TNS for their network telecommunications services. Transaction Network Services, Inc. (TNS), headquartered in Reston, Virginia, provides data communications services for transaction-oriented applications. The company is listed on the Nasdaq Stock Market(SM) under the symbol TNSI. Additional company information is available on the TNS website at www.tnsi.com
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