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    Transaction Network Services Inc.
    list rank

    From the April 28, 1997 Washington Post

    '96 (in $ 000s) % Change From '95
    Revenue 52,300 26.3
    Net Income 5,800 16.0
    Rank Last Year: 91

    Transaction Network Services has three main businesses: a point-of-services unit that primarily carries data from credit and debit cards and checks to processing centers for confirmation and validation; a division that handles electronic benefit transfers for state welfare programs; and the operation of a private network using Internet technology for equity transfers between brokerages and other financial institutions.

    Business Resume:
    • Contact Info --
      1939 Roland Clarke Place
      Reston, Va. 20191
    • Main Business --
      Data communications services
    • Founded --
    • Chairperson --
      John J. McDonnell Jr. (CEO)
    • President --
      John J. McDonnell Jr.
    • Employees --
    • D.C.-Area Employees --
    TNS opened a new operation in mid-March,TNS FastLink Data Service, which will allow brokerages and other financial institutions to make equity transactions on a secure, private network at less cost than the current telephone transaction system. In addition to the new line of business, TNS won two major new contracts for its point-of-service unit from National Data Corp. and American Express Co. With the new contract, TNS estimates it now has about 35 percent of the POS market, about the same as its major rival, AT&T The company's electronic benefit transfer business also received a major boost this year when DeLuxe Data Corp. shifted all of its benefit transfer business to TNS. TNS now handles the electronic benefit transfers for welfare recipients in 25 states. Federal law requires all states to use an electronic transfer system.

    Copyright 1997 The Washington Post

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