Travelex Outsourcing, a subsidiary of Travelex Limited a global provider of foreign exchange, has selected Transaction Network Services (News - Alert) (TNS) for payments connectivity to banks in Asia.

Transaction Network Services (TNS) is a global provider of data communications and interoperability solutions.

By using TNS (News - Alert) managed payments connectivity solutions, Travelx expects to strengthen its targeting of Malaysia, Singapore and Australia.

Officials with TNS said the company is providing Travelex with regional host connectivity and network access points, enabling transactions between Travelex points-of-sale and its corresponding, customer financial institutions in various countries to enable Dynamic Currency Conversion (DCC) across the Asia Pacific region.

Thanks to TNS, Travelex and its customers would now have secure end-to-end managed connectivity using a PCI (News - Alert) DSS certified backbone network.

“TNS provides a shared, secure payments-only backbone between our target countries. Working with TNS will enable us to rapidly connect new customers in international markets, at a price point that represents value compared to building it in-house,” said Damian Cecchi, general manager of Travelex Outsourcing.

Cecchi said that with TNS’ scalable, outsourced solution, Travelex can continue to expand its business and services in new markets with new customers more quickly.

Travelex will also be using TNSonline, a Web-based network management portal which provides a real-time view of network and transaction performance for reporting and troubleshooting.

TNS is pleased to have been chosen by Travelex to augment its existing in-house capabilities, according to John Banfield, senior vice president and general manager of TNS’ Asia Pacific payments division.

Stated Banfield: “For more than 20 years TNS has been providing services to financial institutions and merchants around the world, and we look forward to supporting Travelex with our unique expertise and understanding of complex, payment networks as Travelex expands into the Asia region.”

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