Paymark and Transaction Network to strengthen payment network in New Zealand
Electronic payments company Paymark has partnered with data communication services provider Transaction Network Services (TNS) to strengthen its EFTPOS services with a new range of payment solutions.
The partnership agreement will allow Paymark to extend support for its dial-up service to merchants in New Zealand by another three years, with the option for further extension.
It also features new wireless and IP POS services due to TNS’ Global Wireless Access and TNSLink for Retail solutions.
Paymark chief information officer Shane Ohlin said: “We are delighted to be working with TNS to strengthen the New Zealand marketplace.
“We are dedicated to providing a high-quality range of payments access services to support our merchants across the country.
“IP Dial remains an important access option for our customers and TNS shares our ongoing commitment to this technology.
“Partnering with TNS allows us to enhance our existing dial up offering while strategically expanding our portfolio and future-proofing our business with new wireless and IP offerings.
“We expect to also reduce our operational and support costs as working with TNS will help to streamline our infrastructure.”
TNS’ Global Wireless Access is a managed roaming wireless POS solution, which claims to offer greater security, coverage and reliability to merchants.
The TNSLink for Retail solution will replace Paymark’s OneOffice and RetailZone services for large merchants.
It will provide additional functionality, including secure, high-speed, bi-directional connectivity support for time reporting, inventory monitoring and other back office applications, as well as handle in-store POS transactions.
TNS Asia-Pacific payments division managing director John Tait said: “Paymark is the leading processor in New Zealand and currently handles 75% of all card transactions in the country.
“This network includes 140,000 EFTPOS terminals across 80,000 merchants and sees approximately 1.2 billion transactions worth $60bn carried each year on behalf of more than 50 card issuers and acquirers."
Image: Paymark and TNS partnership boosts New Zealand payments infrastructure. Photo: courtesy of BTNS.