Business Services Industry
Fidelity Express Renews Exclusive Networking Agreement with TNS for In-Person Bill Payment Processing
Business Wire, June 21, 2004
RESTON, Va. -- Cash Transactions Continue to Increase at the Point of Sale (POS); U.S. Treasury Estimates That More Than 40 million Americans Do Not Have Bank Accounts
Transaction Network Services, Inc. (TNS), a subsidiary of TNS, Inc. (NYSE:TNS), today announced a multi-year contract renewal with Fidelity Express, a leading U.S. provider of walk-in bill payment services and one of the top five money order companies.
Fidelity Express' network currently extends to 16 states with over 5,000 locations such as convenience store and grocery store merchants in the Southeastern U.S. Fidelity Express accepts payments through authorized retailers on behalf of companies such as AquaSource, Reliant Energy, TXU, Verizon, Atmos Energy, Northland Cable TV, Vycera Communications, City of Lake Worth, FL, City of Lakeland, FL, Brownsville Public Utilities, City of Dallas Water, Southern Arkansas Water, Cobb Energy of Georgia and several electric cooperatives.
Under the agreement, TNS, one of the leading providers of business-critical, cost-effective data communications services for transaction-oriented applications, will continue as Fidelity Express' exclusive network provider for in-person bill payment transactions. Fidelity Express' system provides cash paying consumers a convenient way to pay bills at a broad range of retail locations. The Fidelity Express POS terminal dials into the TNS network to be securely routed to the required point of authorization and processing.
"Money orders, in-person bill payment and other POS financial services offer a valuable service to consumers, while at the same time help to increase customer traffic and generate additional revenue for our retailers", said Pat Odom, Division Manager at Fidelity Express. "Industry reports indicate that at least 20 percent of the U.S. population pays their bills in person in retail locations around the country. One of our payment location providers, Kroger Supermarkets, reports 66 percent of all people who come into their stores to pay their bills buy something."
"To meet the demands of our customers, we need a network provider that can meet the transport and security needs of our rapidly expanding and evolving business. TNS has proven its ability to do this and we look forward to continuing to work together," continued Odom.
"This renewal agreement represents Fidelity Express' continued confidence in TNS to deliver critical transaction transport solutions," said Larry Crompton, SVP and GM of TNS' POS Division. "Fidelity Express merchants are providing unmatched convenience by allowing individuals to pay their bills and purchase money orders in one convenient location with a variety of payment methods. We are pleased to provide Fidelity Express with the network solutions to make these transactions happen."
About Fidelity Express
Fidelity Express is a full-service financial services company that was established in 1988 to fill the void in service to the independent merchant. Fidelity Express is a division of GSC Enterprises, Inc., a 50+ year old grocery wholesale distributor with over 1200 employees. Headquartered in Sulphur Springs, Texas, Fidelity Express is one of the top five money order companies in the nation and a leader of walk-in bill payment service providers. Fidelity Express provides walk-in payment solutions for, among others, AquaSource, Reliant Energy, TXU, Verizon, Atmos Energy, Northland Cable TV, Vycera Communications, City of Lake Worth, FL, City of Lakeland, FL, Brownsville Public Utilities, City of Dallas Water, Southern Arkansas Water, Cobb Energy of Georgia and several electric cooperatives. For more information on Fidelity Express, visit www.fidelityexpress.com.
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 www.tnsi.com.
This press release may contain various remarks about the future expectations, plans and prospects of the Company that constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. The Company's actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed under the heading "Risk Factors" in the Company's prospectus dated March 16, 2004, which is on file with the U.S. Securities and Exchange Commission and may be accessed at www.sec.gov or the Company's investor relations web page available at www.tnsi.com. The Company disclaims any obligation to update or correct any forward-looking statements made herein due to the occurrence of events after the issuance of this press release.
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