News

Fla. company licenses TNS transaction processing software

June 18, 2003

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TORONTO -- Terminal Cash Solutions, LLC (TCS), headquartered in Atlanta and known in the industry as SMARTBanks, has purchased a license from TNS Smart Network Inc., Canada's largest privately-owned transaction processor, to use TNS' Smart Processing Suite of software.

Following completion of the agreement in mid-May, the TNS software was installed and certified by Fifth Third Bank in Cincinnati. According to a news release, SMARTBanks is using the software to process transactions for ATMs, "cashless" ATMs (scrip machines) and point-of-sale devices, as well as stored value, payroll and gift card issuance.

SMARTBanks, a group of nine Florida community banks, currently processes PIN-based ATM and POS transactions from more than 2,200 locations, with a network operations center in Birmingham, Ala., and banking, marketing and sales teams based in Southern Florida.

SMARTBanks spokesperson Allan Greenfield said in the release that TNS' current in-house processing volume, as well as the flexibility and speed of deployment of the Smart Processing platform, were the deciding factors in his company's decision to license the software.