Chockstone Partner with Transaction Network Services

Tuesday 26 October 2004 13:00 CET | News

Chockstone has partnered with Transaction Network Services (TNS) the results of their collaboration to combine Chockstones SingleSwipe POS service and TNS TransXpress(R) transaction network.

Chockstone processes millions of QSR stored value cards via ChockPoint, Chockstones revolutionary transaction platform, which enables retailers to offer payment, loyalty and promotional programs through a single consumer card. Consumers can draw down gift card dollars, earn loyalty points, and redeem these points in real time with one retail-branded card. QSRs can instantaneously deliver promotions based on historical transaction behavior at the point-of-sale (POS). TNS, one of the leading providers of business-critical, cost-effective data communications services for transaction-oriented applications, will serve as Chockstones network provider for authorizing debit and credit transactions. High-frequency, multi-unit QSRs deploying Chockstones stored value program can complete payment transactions at the POS in seconds -- considerably faster than traditional dial methods. This enhanced capability enables merchants to improve customer service and promote and reward in real time without the cost (or headaches) of unmanaged networks. Chockstones platform has revolutionized payment processing for several of the nations largest QSR chains. Chockstones combined gift, loyalty and promotions stored value card platform combines all transaction information, including credit/debit, into one transaction before transmitting over TNS TransXpress network. In just seconds, via a managed IP VPN connection, credit/debit authorizations, gift card loads, loyalty point accruals and one-to-one analytics-based promotions messages are processed and returned to the POS. To date, the combination of Chockstones revolutionary transaction platform ChockPoint and TNS TransXpress network has enabled four of the top 25 QSR chains to introduce profit-generating card-based programs without sacrificing the precious seconds that evaporate through traditional credit/debit authorizations and gift card transactions.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce