Transaction Network Services (TNS) is partnering with the Australian payments industry to deliver a new fully managed infrastructure for the Australian Payment Network’s (AusPayNet) Community of Interest Network (the COIN).
The COIN is a high availability, managed network for multilateral secure transmission of payment files and transactions. Designed as collaborative core infrastructure for the future of Australia’s low-value payments, the COIN provides an alternative to point-to-point connectivity between payments participants. Currently, the COIN provides network services and connectivity for cheques, direct entry, domestic cards and BPAY bill payments.
“We are delighted to have been selected by AusPayNet and its members as the exclusive payment infrastructure partner for COIN,” said Michael Johnson, Managing Director - FinTech Solutions, APAC for TNS Payments Market.
“Our carrier agnostic managed solution leverages the latest SD-WAN technology underpinned by a 99.999% availability commitment. The TNS Managed COIN Payment Network will help to provide enhanced security, higher resilience and availability, simplified access and onboarding, and greater visibility of network performance, all managed in a PCI-DSS certified environment.”
The migration to the new TNS managed COIN is now complete and includes the ability to scale and adapt to members’ and the payments landscape’s volume and technical needs.
“Partnering with TNS for a significantly enhanced COIN network meets our commitment to a secure, stable and efficient payments network,” said Andy White, CEO, AusPayNet. “With TNS we have achieved a future-proof solution to help deliver critical reliability and resiliency.”
Every BECS debit, eftpos, BPAY and cheque transaction in Australia now relies on the TNS end-to-end managed network service to securely transport essential real-time authorization and settlement files. TNS’ PCI-DSS certified, multi-carrier solution utilizes multiple connectivity types to optimize performance and increase network availability. An online portal provides real time visibility, management and reporting while the service is also supported by TNS’ four 24/7/365 global Network Operating Centers in Australia, US, UK and Malaysia.