Card Briefs: Amex Signs Contract With Telecom Processor

Transaction Network Services Inc. said it has obtained a multiyear contract to provide transaction transport services to American Express Travel Related Services Co.

The contract took effect Jan. 1 and is worth more than $6 million, said the Reston, Va.-basedcompany, a conduit for credit card transaction data.

Transaction Network Services is expected to "play a vital role in helping Amex manage its telecom infrastructure in the U.S. and potentially around the globe," said Steve Squeri, vice president and general manager of electronic merchant services at American Express.

"This agreement adds another industry leader to our customer list," said Transaction Network Services president and chief executive officer John J. McDonnell Jr. "We look forward to building a long-term relationship."

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