Transaction Network Services recently opened a new Key Injection Facility in Reston, Va., to enhance its global P2PE Solution offerings.
Specializing in P2PE solutions, the new KIF facility was solidified in May 2022, according to an Aug. 4 Business Wire release. The purpose of the new establishment, resembling a similar facility validated in December 2020 in Adelaide, Australia, is to help merchants complete a sage deployment of Point Of Sale terminals on a global scale.
“We are delighted to add an additional KIF to our global P2PE validated solution. Security is a critically important part of the payments life cycle and is embedded at the core of our full suite of solutions," Shaun Donaghey, TNS managing director, US payments market, said in Business Wire. “As a geographically diverse business, we manage payments infrastructure across five continents, and this new facility adds significant value to our global security capabilities.”
TNS' slate of security solutions include KIF and P2PE, which are capable of securely encrypting transaction data as it makes its way from the POS terminal at a merchant, according to Business Wire.
“Similarly, TNS’ tokenization solution can securely store transaction data and pass an anonymous token back to the merchant as reference for the purposes of business intelligence and data analysis, among other uses,” the release explains.
The company processes billions of transactions across the US, UK, Australia and Malaysia, according to Business Wire.
“The ability to tokenize data and send it back to the merchant for analysis, can provide insights that help them make data-based decisions to aid their business objectives,” Selin Simsek, vice president of innovation and solutions at TNS, said to Business Wire. “For merchants, a key benefit of a P2PE validated solution and tokenization is the greater protection of transaction data. This is crucial as the correct solution can potentially reduce the scope of their PCI obligation.”