As a part of its "connected mobility" project announced earlier
Total System Service Inc.
) declared that it will launch its near-field communication (NFC)
technology in North America.
Canadian Imperial Bank of Commerce
) 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
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.
Green Dot Corporation
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
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