Transaction Network Services Inc. said it has licensed software and equipment to speed up processing for a Canadian point of sale network provider.

The Reston-based company will supply Shared Network Services Inc. with software and routing equipment called SS7, which it said will speed up the transportation of point of sale information and cut costs for the processor and merchants.

Transaction Network Services said it will collect a royalty for each transaction processed through TDSI, a data transport subsidiary of the Canadian company that serves mainly bank processors.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.