ACCEL/Exchange Transaction Volume Grows 46 Percent in 2005; New Clients and Merchants Join Fiserv Network at Unprecedented Pace.BROOKFIELD, Wis. -- The ACCEL/Exchange Network, owned and operated by Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ) through its Fiserv EFT business unit, today announced record transaction volume and unprecedented membership and location growth in 2005. The Network, currently the nation's third-largest based on total transaction volume, grew its in-network transaction totals by 46 percent in 2005, signed 400 new members - including more than 210 credit unions - and added 60,000 ATMs and 200,000 point-of-sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) locations during the past year. ACCEL/Exchange transactions are now enabled at more than 100,000 ATMs and 500,000 merchant locations throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Year-over-year transaction totals were 410 million in 2005, up from 281 million in 2004. The Network's ATM transactions rose 27 percent to 52 million in 2005 from 41 million in 2004, and POS transaction activity increased 49 percent to 358 million in 2005 from 240 million in 2004. "ACCEL/Exchange delivers everywhere, every-time convenience to consumers and significant economic value to financial institutions, ISOs and merchants," said Kevin Gregoire, executive vice president of Fiserv EFT. "Our new client and merchant signings are rapidly increasing the network's visibility, creating powerful momentum for us in the marketplace. The value inherent in the network has been unlocked for everyone in the payments stream. The ACCEL/Exchange message is out: we provide superior access, performance and value." In addition to national ATM and point-of-sale access, the ACCEL/Exchange Network continues to expand its key services, including its Deposit Sharing program that enables cardholders to make deposits at participating member ATMs, and its NoSurcharge Alliance program that gives card holders access to surcharge-free ATMs. "We saw 2005 as a banner year for ACCEL/Exchange," said Michael Williams Michael Williams may refer to:
Transaction processing systems are the backbone of an organization because they update constantly. services. Network consolidation has significantly narrowed the payments channels available to our marketplace. This consolidation has caused financial institutions, ISOs and merchants to take a new look at ACCEL/Exchange, and not surprisingly, they like what they see." In addition to managing the ACCEL/Exchange Network, Fiserv EFT provides ATM and debit services to more than 2,700 financial institutions across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The business unit operates more than 17,000 ATMs and currently processes approximately 435 million ATM and debit transactions per month, making it one of the largest electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. (EFT) processors in the nation. Fiserv, Inc. (Nasdaq:FISV) provides information management systems and services to the financial and health benefits industries, including transaction processing, outsourcing, business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in and software and systems solutions. The company serves more than 17,000 clients worldwide, including banks, credit unions, financial planners/investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.7 billion in processing and services revenues for 2005. Fiserv was ranked the largest provider of information technology services to the U.S. financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry in the 2004 and 2005 FinTech 100 surveys by the American Banker American Banker is a daily newspaper covering the financial services industry. Founded in 1835 and based in New York, American Banker's 70 reporters and editors in six cities monitor developments and breaking news affecting banks. newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com. |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion