Transaction Network Services (۶Ƶ) 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 ۶Ƶ, APAC for ۶Ƶ Payments Market.
“Our carrier agnostic managed solution leverages the latest SD-WAN technology underpinned by a 99.999% availability commitment. The ۶Ƶ 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 ۶Ƶ 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 ۶Ƶ for a significantly enhanced COIN network meets our commitment to a secure, stable and efficient payments network,” said Andy White, CEO, AusPayNet. “With ۶Ƶ 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 ۶Ƶ end-to-end managed network service to securely transport essential real-time authorization and settlement files. ۶Ƶ’ 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 ۶Ƶ’ four 24/7/365 global Network Operating Centers in Australia, US, UK and Malaysia.
۶Ƶ is a global leader in providing payment terminals, security, and payment orchestration services but a transaction cannot be processed without connectivity. What makes ۶Ƶ unique and reliable is that it does not use a third party for connectivity but instead transmits transactions via a secure core network designed and built by ۶Ƶ for the payments industry. ۶Ƶ enables around 35 billion payment transactions around the world each year for the largest acquirers and financial institutions. Its solutions are scalable, agnostic, and actively monitored 24x7x365 from four global Network Operations Centers in the US, UK, Australia, and Malaysia.
For more information on ۶Ƶ’ Payments Market solutions, visit tnsi.com/solutions/payments.
