Please replace the release issued May 18, 2021, at 9.03am ET with the following corrected version due to multiple revisions.
The updated release reads:
NOVUS TECHNOLOGIES SELECTS TNS TO TRANSFORM ITS PHILIPPINES PAYMENTS INFRASTRUCTURE
Payment service provider Novus Technologies has launched its ATM-as-a-Service in the Philippines after signing a new agreement with Transaction Network Services (TNS). This will diversify and strengthen Novus Technologies’ payments infrastructure in the Philippines.
Headquartered in Singapore, Novus Technologies (Novus) offers a diverse range of digital banking and payments services across Asia from its operations in Singapore, the Philippines, Cambodia, Sri Lanka, Indonesia, and India. It is using the TNSLink for ATMs solution to support its new services launched in the Philippines.
"We are delighted to announce this new strategic partnership with TNS, which has enabled us to enter the ATM market in the Philippines with confidence," said Ariel Gumabao, Country Head at Novus Transact Philippines Corporation. "We pride ourselves in working with reputable providers that have a strong established local presence. TNS understands the telecommunications challenges we face in the Philippines and provides a more efficient, cost effective and reliable alternative which can connect us to the payments landscape."
Prior to signing with TNS, Novus had considered deploying a combination of local telco routers and leased lines, but this plan was fraught with complexity and cost.
"When Novus approached us, we could see an opportunity to transform their plan with an approach that would support their objectives, while freeing vital resources to target growth," said Joseph Nicdao, TNS Country Manager in the Philippines. "Our extensive connectivity removes the restrictions of telco dependency and our already established and proven network can handle Novus’ requirements both now and in the future as its new ATM business in the Philippines grows."
In April, banks in the Philippines were subject to changes in the way ATM fees are charged with the Bankgo Sentral ng Pilipinas switching from a card issuer-based model to an acquirer-based ATM model.
"Recent developments in the country mean that our banking customers will become even more cost conscious than previously," added Gumabao. "By working with TNS to deploy these ATM services as an OPEX model we can help customers potentially lower costs, while at the same time enhancing the end user experience with greater uptime and reliability."
TNSLink for ATMs is a fully managed, PCI compliant connectivity solution which is hardware and network agnostic, meaning it can connect to virtually any terminal or destination host service regardless of transaction volumes or site requirements.
TNS’ solutions are scalable to support growth and actively monitored 24x7x365 from its network operating centers in the US, UK and Australia. For more information visit tnsi.com.
About Transaction Network Services:
TNS is a world renowned provider of Infrastructure-as-a-Service (IaaS) solutions to the payments, communications and financial markets. Established more than 30 years ago, its extensive portfolio of innovative, value added services now supports thousands of organizations across more than 60 countries to interact efficiently, conduct mission critical processes securely and adopt new technologies flexibly. TNS’ Payments Markets business enables trusted connected commerce through its IaaS solutions that include payment device enablement, global connectivity and merchant processing solutions. TNS’ solutions enable its partners to simplify, secure and manage the most complex aspects of the payment ecosystem and gain strategic advantage from the moment they engage with consumers. For more information please visit tnsi.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210518005560/en/
For further information please contact:
Clare Cockroft/Rachel Watson
T: +44 (0)114 292 0163 / +1 703 814 8065