TNS to buy Australia's Advam with eye on unattended payments
Transaction Network Services has agreed to acquire Australia-based Advam in a move to strengthen the company's services, especially in the unattended payments and e-commerce fields.
While Reston, Va.-based TNS concentrates on designing interoperable data networks, Advam provides payment solutions to the parking, airport, shopping center, government and self-service sectors. The company processes millions of transactions and registrations daily in more than 20 countries.
"This is an important strategic acquisition for TNS as it helps us to expand both our and Advam’s operations and capabilities," Mike Keegan, TNS CEO, said in a Tuesday press release.
Advam's unattended and e-commerce solutions complement the TNS portfolio of services, giving customers of both companies access to a broader set of payments and connectivity functionality from a single supplier, Keegan added.
TNS is adding the Advam technology and capabilities at a time in which it feels consumers are increasingly using their credit or debit cards at unattended kiosks, parking meters, while also becoming more comfortable in payments wearables that can be used at these sites.
Advam has been a customer of TNS in the U.K. since 2011 and expects to expand globally through the TNS connections with banks, acquirers and processors.
"Becoming part of TNS strengthens our offering to existing customers and gives us a springboard for growth," Advam CEO Jose Da Silva said in the release. "TNS is the perfect partner because of its reputation, specialist capabilities, strong customer base and solid history as a trusted supplier."
Since 1990, TNS has served the global payments industry with transaction delivery services for banks, processors and ATM deployers.
In 2014, the company sold its merchant payment gateway services to Mastercard, focusing instead on providing the networks that those types of providers rely on — in lieu of building and managing its own merchant customer database.