Travelex, a Finablr company and a market leading foreign exchange specialist, has today announced a new agreement with Transaction Network Services (TNS), a leading global provider of data communications and interoperability solutions.
Through the partnership, Travelex will expand the card schemes available across its 1,050-strong ATM network. The company will use TNS’ managed hosting service to maintain its Switch transactions and will now accept JCB, Discover, DCC, and UnionPay cards.
TNS’ hosted managed service will support ATM transactions for local and foreign currencies as well as dynamic currency conversion. Prior to this new agreement, Travelex used an in-house service to handle transactions, combined with TNSLink ATM communications for ATM solutions.
“With a rich history in foreign currency, our business has always focused on ensuring consumers have access to the travel money they need,” said Dan Gilby, Global Head of Acquiring. “The promises of fintech market entrants have transformed the market as we knew it, but cash still remains at the center of payments and travel money even as consumers increasingly look for a wider range of options. Thanks to our long-standing relationship with TNS, we’re thrilled to be making this latest strategic enhancement to our ATM business, expanding our services to a greater number of credit card brands.”
“We are delighted to be extending our relationship with Travelex and we look forward to continuing to support them with their future growth,” said Mark Collins, Managing Director of TNS’ Payments business in EMEA. “Having over 20 years’ experience in the ATM communications market, we are delivering a scalable service that can support future technology enhancements and process Travelex’s transactions for all major card schemes.”
Travelex operates ATMs in 12 countries across Europe and Asia Pacific regions, including the UK, France, Netherlands, Australia and Hong Kong.
Founded in 1990, TNS is a trusted partner to the payments industry, providing services across Europe, the Americas, and the Asia Pacific regions. TNS offers a broad portfolio of solutions, including secure and resilient transaction delivery services that are used by many of the top banks, transaction processors and ATM deployers around the world. TNS’ Network Operating Centers in the US, UK and Australia provide 24x7x365 support to all of its customers. TNS is a Level 1 PCI DSS certified service provider and a global board member of the ATM Industry Association (ATMIA). For more information about TNS, visit www.tnsi.com.
About Transaction Network Services:
Transaction Network Services (TNS) is a leading global provider of data communications and interoperability solutions. TNS offers a broad range of networks and innovative value-added services which enable transactions and the exchange of information in diverse industries such as retail, banking, payment processing, telecommunications and the financial markets.
Founded in 1990 in the United States, TNS has grown steadily and now provides services in over 60 countries across the Americas, Europe and the Asia Pacific region, with our reach extending to many more. TNS has designed and implemented multiple data networks which support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods.
Headquartered in London, Travelex has a 140-year heritage in foreign currency, pioneering the travellers’ cheques of the past and the digital payments of the future. With a presence in over 70 countries, and over 1,200 stores at both on-airport and off-airport locations around the world, Travelex has distilled its expertise and experience into one service that reinvents physical and digital cross-border money movement globally to ensure its clients remain one step ahead of the competition. This provides financial institutions with a trusted, efficient and accurate international money transfer service, plus secure and reliable banknote delivery of both major and exotic currencies.
A market leading foreign exchange specialist, the business covers the entire value chain of the retail foreign exchange industry. Travelex Group is also active in the remittances and payments space enabling physical and digital cross-border money movement for consumers and financial institutions.
Travelex is part of Finablr, a global platform for Payments and Foreign Exchange solutions. With deep regulatory know-how, technology expertise and industry leading partnerships, Finablr companies provide a broad array of tailored and trusted financial solutions for consumers and businesses. With a global reach spanning 170+ countries, Finablr companies processed over 150 million transactions in 2018, managing nearly USD 115 billion for customers.