Transaction Network Services (TNS) has launched a new global card scheme gateway which will enable merchants and banks to quickly and easily connect with UnionPay for authorization and processing of in-store payment transactions.
Banks, processors and merchants wishing to accept UnionPay cards will be able to use
TNS set to accelerate UnionPay acceptance worldwide
the TNS Scheme Gateway to access UnionPay’s processing hub in Hong Kong, removing the need for self-managed complex and costly bespoke connections.
“In addition to being complex, setting up bespoke network links can prove extremely costly and time consuming both to establish and to maintain, and as a result many merchants have been simply unable to accept UnionPay transactions until now,” says Lisa Shipley, Executive Vice President and Managing Director of TNS’ Payment Network Solutions.
“We are removing the need for organizations to make changes to backend systems and networks, and offering them a streamlined, efficient and cost-effective alternative which can be operational in as little as two weeks.”
The TNS Scheme Gateway for UnionPay utilizes TNS’ highly resilient and robust Secure Payments Network which provides a range of value-added features, including handling customer card data in accordance with PCI DSS regulations and best in class visibility and monitoring which ensures maximum uptime and availability. The technology converts the local domestic message format into UnionPay’s preferred type and manages all clearing, dispute and reconciliation files. TNS also manages all card scheme updates and compliance requirements, allowing merchants, banks and processors to focus on their core business.
Currency exchange provider Travelex immediately saw the value of the new gateway when TNS customers were given an exclusive preview and has signed up to the service.
Damian Cecchi, General Manager at Travelex, said: “As a TNS customer we were already familiar with the company’s impressive transaction capabilities and great service, so when we learnt we would be able to use their new gateway to accept UnionPay transactions the decision to proceed came naturally. It was very easy to set up and is much simpler than managing our own connection.”
The TNS Scheme Gateway for UnionPay will allow merchants to capitalize on the growing numbers of Chinese tourists travelling the world, with more than 4.3 billion UnionPay cards issued in total. Consumer spending via UnionPay cards was over $5.2 trillion USD worldwide in 2013 and increasingly cards are being issued to customers outside of China.
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