Fuel Retailers Willing to Move Quickly on EMV Compatibility Upgrades Can Save Money With TNS Incentives
Offers help owners and operators offset some upgrade costs
RESTON, Va.–(BUSINESS WIRE)–The deadline for fuel retailers to support EMV payments at the forecourt to avoid the liability shift is less than a year away, yet many fuel and convenience retailers have not finished — or started — projects to upgrade their automated fuel dispenser (AFD) equipment. To help those retailers offset some of the initial costs to upgrade, Transaction Network Services (TNS) today announced new pricing bundles and incentive programs that could save owners and operators money with their upgrade projects.
These programs are intended to offer some financial relief in the short term, to those merchants that are willing to act quickly given the impact that the coronavirus pandemic has had on enterprise budgets.
Deploying outdoor payment terminals with EMV capabilities also involves upgrading network connectivity infrastructure as retailers need to securely support payments at AFDs while providing speed and reliability at the same time. The new pricing structures from TNS are intended to help retailers get the most out of their upgrade projects and limit their financial burden while they make the necessary improvements.
“While research has indicated that upgrading equipment for EMV compatibility benefits retailers by reducing the risk of having to pay costs related to fraud, these projects are not inexpensive,” said Dan Lyman, TNS’ Head of FinTech Payments for North America. “As a trusted player in the payments ecosystem, TNS is committed to helping retailers plan for EMV upgrades, and these new offers will help offset their upfront and ongoing costs.”
The promotional programs are designed to offer near-term budget relief and incentivize retailers to proceed even in this uncertain market climate. The programs can help retailers’ bottom lines with significant discounts that have the potential to save them thousands, or even tens of thousands, of dollars.
“The incentive programs are designed to help ease some of the hesitation that fuel and convenience retailers have about the costs associated with EMV-related upgrades,” said Lyman. “These offers may also help retailers begin realizing the benefits of EMV payments acceptance sooner.”
TNS is a certified managed network service provider (MNSP) of both Gilbarco and Verifone and is a Level 1 PCI DSS certified service provider. Retailers can use TNSLink to connect their payment terminals securely and cost-effectively to TNS’ global payments community to support multiple payment applications, improve uptime and increase productivity. TNSLink leverages TNS’ global presence and established connectivity with more than 400 payments systems, delivering secure and reliable managed services, supported 24x7x365 from three global Network Operating Centers.
As a trusted partner to the payments industry, TNS offers a broad portfolio of secure commerce solutions that include parking reservations, unattended payments, point-of-sale services, ATM connectivity and managed processing. In 2020, TNS celebrates 30 years of being a provider to global companies in the most mission-critical industries. Many of the most prestigious financial institutions, POS ISOs, ATM deployers and transaction processors rely on TNS for secure and resilient connectivity.
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 and is committed to delivering superior service and world-leading payments, financial services and telecommunications solutions to the world’s most prestigious companies.
Founded in 1990 in the US and headquartered in Reston, Virginia, TNS has secured a strong payments heritage and provides managed services in more than 60 countries spanning the Americas, Europe and the Asia Pacific region with its reach extending to many more. TNS is a Level 1 PCI DSS certified service provider, a member of CONEXXUS, and a global board member of the ATM Industry Association (ATMIA). For more information about TNS and its Payments solutions visit www.tnsi.com or go to our media center for our latest news www.tnsi.com/media-center/.
Contacts
Clare Cockroft
TNS
+44 (0)114 292 0163 / +1 703 814 8065
[email protected]
Harvey Henao
Finn Partners
+1 312 766 5501
[email protected]
