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Prepaid Works Taps Transaction Network Services (TNS) as Network Provider of Choice RESTON, Va., July 20 /PRNewswire-FirstCall/ — Transaction Network Services, Inc., a subsidiary of TNS, Inc. today announced a networking agreement with Prepaid Works, a provider of equipment and technology that enables prepaid sales.Prepaid Works provides merchants with technology and services to sell prepaid wireless, long distance, and mobile entertainment products such as ring tones through Independent Point of Sale Terminals (IPOS). The company currently services a variety of merchants, including gas stations, convenience stores and specialty stores. The prepaid wireless market has seen explosive growth over the past five years and industry analyst project the market will continue to grow. According to Atlantic-ACM, prepaid wireless revenue will grow from $3.48 billion in 2002 to $9.67 billion by 2007. Atlantic-ACM also found that nearly 92 percent of the 2002 prepaid market revenues came from sales in retail stores. Under the agreement, TNS, one of the leading providers of business- critical, cost-effective data communications services for transaction-oriented applications, will serve as Prepaid Works’ network provider for the authorization of prepaid transactions. This means that when a consumer using prepaid products purchases additional minutes of airtime at a merchant location serviced by Prepaid Works, the transaction data is transmitted from an Independent Point-of-Sale (POS) terminal to the TNS network to be securely transported to the required processor for authorization. "Our vision is to provide innovative prepaid solutions that help merchants increase their revenue, while eliminating headaches associated with physical prepaid cards and multiple payment terminals," said Noor Bawa, Prepaid Works. "To achieve our vision we needed an established networking partner with a network capable of providing us with consistent performance and reliability. TNS specializes in the secure transportation and management of financial transactions and we are pleased to entrust them with our networking operations." "Prepaid wireless is one of the fastest growing segments of the wireless business," said Larry Crompton, SVP and GM of TNS’ POS Division. "Prepaid Works recently announced an important milestone — that they have signed more than 100 merchants. We are pleased to be supporting the company’s continued growth by delivering the transaction transport solutions demanded by Prepaid Works and its customers." About Prepaid Works Prepaid Works is a premier prepaid service and solutions provider to merchants nationally. With Prepaid Works program the merchants can sell prepaid wireless, long distance, ring tones and other products via the TeleCheck’s Eclipse(R) payment terminal, as well as an Independent Point of Sale Terminal (IPOS). The merchants typically see significant increase in their revenues and profits while eliminating the headaches associated with the physical cards, forecasting and managing inventory in each of their stores and dealing with multiple terminal suppliers. TeleCheck Eclipse(R) is a registered trademark of TeleCheck International, Inc. and is licensed for use by Prepaid Works. For further details, visit https://www.prepaidworks.net/. About Transaction Network Services, Inc. Transaction Network Services is one of the leading providers of business-critical, cost-effective data communications services for transaction-oriented applications. TNS provides rapid, reliable and secure transaction delivery platforms to enable transaction authorization and processing across several vertical markets and trading communities. Since its inception in 1990, TNS has designed and implemented multiple data networks, each designed specifically for the transport of transaction- oriented data. TNS’ networks support a variety of widely accepted communications protocols and are designed to be scalable and accessible by multiple methods. TNS’ network technologies have been deployed in the United States and internationally, and TNS’ network has become a preferred network servicing the trading community, wireless and wireline carriers, and the card processing and dial-up automated teller machine markets. For further information about TNS’ transaction solutions, please refer to https://www.tnsi.com/. The statements and information contained in this press release that are not descriptions of historical fact may contain forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond our control, which could cause actual results to differ materially from historical results or performance and from any opinions or statements expressed with respect to future periods. Website: https://www.tnsi.com https://www.prepaidworks.net TNS, Inc. CONTACT: Mike Murphy of TNS, Inc., +1-703-453-8550, or [email protected],or Marcie Cheney of Environics Communications, +1-202-296-2002, [email protected], for TNS, Inc. |
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