As a part of its “connected mobility” project announced earlier this year, Total System Service Inc. (TSS) declared that it will launch its near-field communication (NFC) technology in North America. Canadian Imperial Bank of Commerce (CM) or CIBC will be the company’s partner for the launch.
Total System’s NFC payment solution is clubbed with cloud-based products within the ‘payment theme’ of the “connected mobility” service. The technology offers easy payment and acceptance facilities through features such as real-time mobile account creation, mobile device identification and production of EMV data required for provisioning a mobile phone. The latest technology also provides support for life-cycle management scenarios. Further, issuers can use the service of any Trusted Service Managers (TSM) for NFC Payment Solution.
In May 2012, Total System announced the launch of “connected mobility” to support real-time communication through a variety of devices. The technology includes various Application Programming Interfaces (API) and other user-friendly applications. The service is characterized by three themes – payments, communications and commerce.
Total System’s “connected mobility” service is expected to cater to 24 billion connected devices by 2020, according to a research released by Groupe Spéciale Mobile Association (GSMA) in October 2011. The service had a market of 9 billion customers when it was launched in May this year. Hence, the new service is expected to drive the company’s growth in the long run.
Total System, which specializes in providing the latest payment solutions, competes with companies such as Global Payments Inc. (GPN), Green Dot Corporation (GDOT) and Equifax Inc. (EFX).
Total System currently carries a Zacks #3 Rank, implying a ‘Hold’ rating for the short term. Moreover, considering the fundamentals, we maintain our long-term ‘Neutral’ recommendation on the shares.
CDN IMPL BK (CM): Free Stock Analysis Report
EQUIFAX INC (EFX): Free Stock Analysis Report
GREEN DOT CP-A (GDOT): Free Stock Analysis Report
GLOBAL PAYMENTS (GPN): Free Stock Analysis Report
TOTAL SYS SVC (TSS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment