American Express Boosts Customer Service.LONDON--(BUSINESS WIRE)--Feb. 10, 1999-- American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. changes telecommunications network A telecommunications network is a of telecommunications links and nodes arranged so that messages may be passed from one part of the network to another over multiple links and through various nodes. to boost merchant customer service levels across Europe As part of a continuing drive to maintain high standards of merchant customer service, American Express has upgraded the telecommunications network for its Point of Sale (PoS) terminals. The new network allows for complete protocol compatibility both within the UK and Europe. It also enables American Express to monitor all transaction statistics from its UK authorisation centre in Brighton, whilst providing detailed management data on each transaction passing through the network. Doug Nielson, Head of Electronic Merchant Services Merchant services is the name given in the United States to a broad category of financial services intended for use by businesses. In its most specific use, it usually refers to the service that enables a business to accept a transaction payment by use of the customer's credit or ; EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. at American Express in Brighton said: "We are always looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ways of further improving our customer service, and being able to provide our merchants with faster and more reliable authorisations is key to this aim. The introduction of this new network supports the American Express mission to deliver 'Best in Class' service to all its customers." Transaction Network Services (UK) Limited, who were awarded the contract said, "We have invested heavily in developing our service over the last couple of years, and the decision by American Express to sign up to our network is justification of this. We are delighted to be working with American Express." Editor's Notes American Express American Express is a diversified worldwide travel and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company, founded in 1850. It is a leader in charge and credit cards, traveller's cheques, financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , investment products, insurance services and international banking. American Express Cardmembers on average spend more per transaction compared to any other payment method, including other cards. (American Express data). American Express Cardmembers are more loyal. They tend to prefer to shop at stores where the cards are accepted - 47% of Cardmembers are more likely to stop using, spend less, or use the retail establishment less if American Express Cards are not accepted, whilst 26% of Cardmembers look for the sticker before entering the establishment. (Millward Brown, 1996). 20% of American Express Cardmembers only carry Amex Cards. (American Express data). American Express Cardmembers spend over (pound)1 billion a year in retail stores in the UK. There are 43 million American Express Cards in circulation across the world. American Express issues the Personal (Green), Gold and Platinum Charge Card and Credit Cards to individual Cardmembers. It also issues the Corporate Card and Purchasing Card to business to help them keep track of corporate expenditure. Transaction Network Services (UK) Limited Transaction Network Services (UK) Limited, a TNS TNS transcutaneous neural stimulation. subsidiary with headquarters in Sheffield, England, provides data communications services for transaction-oriented applications, and is committed to providing innovative solutions to the UK transactions market. Additional information is available on the company Website at www.tnsuk.com or from Clare Theakston, Business Development Manager, on 0114 292 0210. Transaction Network Services, Inc. (TNS), headquartered in Reston, Virginia, provides data communications services for transaction-oriented applications. The company is listed on the NASDAQ Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol TNSI TNSI Transaction Network Services Inc. TNSI The Natural Step International . Additional company information is available on the TNS website at www.tnsi.com The TNS (UK) FastCard system is designed to treat every transaction message consistently, regardless of the country of origin. FastCard is compliant with APACS APACS Association for Payment Clearing Services APACS Assessments of Policing and Community Safety (UK) APACS Advanced Personal Air Conditioning System APACS Application Access and Control System protocol for the UK, as well as ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 8583 throughout Europe. The FastCard service is also able to supply acquirers with management data, giving detailed information on each transaction passing through the network. This means that acquirers can monitor the performance of manufacturers' terminals, therefore impacting on future buying decisions. Certain statements and information contained in this news release that are not descriptions of historical fact may contain "forward-looking statements" that involve a number of risks and uncertainties that could cause actual results to differ materially from those currently anticipated due to a number of factors, including transition of the customer's traffic to TNS (UK)'s network, competition, customer demand, changes in economic conditions, technological changes and changes in government regulation. See TNS' reports filed with the US Securities and Exchange Commission for additional discussion of these risks and other factors which may affect TNS' services, operations, revenues and costs. |
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