WILMINGTON, Del., July 28 /PRNewswire/ -- Electronic Payment Services,
Inc. (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."
Over 60 percent of the ATMs deployed by TNS clients are in petroleum and
convenience store locations - industries in which BUYPASS Corporation, EPS'
POS processing company, is the recognized leader. This industry expertise will
serve their new clients well and provide substantial synergies as EPS
continues to leverage its channel strategies.
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, the top ATM terminal driver in the U.S.," 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 http://www.tnsi.com
Electronic Payment Services, Inc. (EPS), a privately-held company
headquartered in Wilmington, Delaware, is a leading electronic funds transfer
(EFT) processor in the United States, with approximately 2.7 billion
transactions annually. EPS is the holding company for BUYPASS Corporation, a
major third-party POS processor and debit transaction acquirer; and MONEY
ACCESS SERVICE INC. (MAS), an EFT processor now with more than 40,000 ATMs in
all 50 states. MONEY ACCESS SERVICE is also operator of the MAC(R) EFT
network, the largest EFT network in the United States based on almost 1.5
billion switch transactions annually, and controls the license rights for the
registered trademark MAC.
SOURCE Electronic Payment Services
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Related links:
http://www.tnsi.com
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 576550
CONTACT:
Tricia L. Schafer of Electronic Payment
Services, 302-791-8906, or Karen Kazmark of Transaction Network
Services, 703-453-8406
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