Card Briefs: Va., U.K. Companies In Processing Venture

Transaction Network Services Inc. said it has entered into a joint venture with General Cable PLC of the United Kingdom for the processing of point of sale and automated teller machine transactions.

The venture is 60% owned by the U.S. data transport vendor and 40% by General Cable, the United Kingdom's fifth-largest cable company. General Cable has had exclusive marketing rights to Transaction Network's dial-up credit card authorization technology since 1996, and it has been adopted by about 80% of major U.K. merchant-acquiring banks.

"This powerful combination means we will be able to supply faster, better, and cheaper authorization and transaction processing" in the United Kingdom, said Ray Low, managing director of the joint venture, known as TNS (UK).

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