Total Systems Services Launches Virtual Payment Percept

Total Systems Services Inc. (NYSE:TSS) recently came up with a new commercial payment solution, TSYS Virtual Payment Percept (“VPP”), to enhance ePayables process flow. This leading commercial card payments processor is designed to improve the experience of customers with new innovations.

VPP is expected to streamline business-to-business (B2B) virtual payments and enhance process efficiency by reducing risk and giving greater control over account and transactional base parameters, accounts payable and accounts receivable payments and reconciliation. This new upgrade has a more sophisticated processing design that capitalizes on the existing TSYS technology to deliver secure, virtual single-use accounts in real time. VPP is available for commercial card issuers across North America.

Electronic payments are expected to dominate B2B payments transactions going forward. This expanding market has been witnessing increased demand and companies need to provide their best services by providing secure and cost-efficient channels and platforms. TSYS believes that this product gives them the much needed support to compete in the dynamically growing electronic payments segment.

TSYS is well-known for constantly enhancing its products to serve customers better and remain competitive in the market. On May 19, the company joined forces with Featurespace, a global leader in adaptive behavior analytics, for a revolutionary machine learning software platform called ARIC engine. This would reduce fraud in real-time for its clients by monitoring each individual and helping to identify fraudulent transactions.

Total Systems Services Inc. (TSS) currently sports a Zacks Rank #1 (Strong Buy). Other stocks to consider in the financial transaction services space are Fidelity National Information Services Inc. (NYSE:FIS) , Global Payments Inc. (NYSE:GPN) and Wex Inc. (NYSE:WEX) , all holding a Zacks Rank #2 (Buy).