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In an effort to better serve tech savvy customers,Total System Services Inc. ( TSS - Analyst Report ) announced the launch of “connected mobility” to support real-time communication through a variety of devices. The newly launched technology includes various Application Programming Interfaces (“API”) and other user-friendly applications.
These will be backed by Total System’s internal knowledge team, as well as its certified partners and other external associations.
The new service is characterized by three themes: payments, communications and commerce. Near Field Communications (“NFC”) technology clubbed with cloud-based products within the payments theme enable easy payment and acceptance facilities.
Communication themes will provide information about any product or transactions to the consumers. The commerce theme will include different finance oriented management tools.
As per the report published by Groupe Spéciale Mobile Association (“GSMA”), the new service currently caters to 9 billion customers and will benefit 24 billion connected devices in the long run. This could be a basis for optimism, in our view.
In this competitive market, this initiative undertaken by Total System will meet consumer’s increasing demand for product and applications that will allow them to do business in a hassle-free way.
The global payments industry is intensely competitive and Total System faces intensecompetition from data processing, bankcard computer service firms and third-party software vendors in theU.S.as well as from international processors and third-party software vendors. Total System closely competes withMasterCard Inc. ( MA - Analyst Report ) .
Following the industry trend wherein all the players are trying to come up with some digital payment services, MasterCard launched PayPass Wallet Service. This will facilitate quicker, secured and relaxed mode of payments for the customers either electronically in stores or through the internet using devices such as smartphones, computers, laptops and tablets.
Total System currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We also retain our long term Neutral recommendation on its shares.
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