Affiliated Computer Services Establishes Industry's First Suite of Bankcard Services for Merchant/Retail Clients; Independent Merchants, Retail Chains and Banks Now Have Their Own "One-Stop Shop" for POS, ATM and Data Processing Services.DALLAS--(BUSINESS WIRE)--Sept. 25, 1995--Affiliated Computer Services Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ACSA ACSA Association of Collegiate Schools of Architecture ACSA Association of California School Administrators ACSA Airports Company South Africa ACSA Apple Certified System Administrator ACSA Australian Curriculum Studies Association ), a leader in information technology services, announced today the formation of a bankcard services subsidiary, ACS (Asynchronous Communications Server) See network access server. Merchant Services Inc., that will market Point-of-Sale (POS (1) See point of sale and packet over SONET. (2) "Parent over shoulder." See digispeak. POS - point of sale ) services to independent merchants, retail chains and banks throughout the United States. Merchant Services will begin processing October 1 and already has secured commitments from seven banks, including State Bank of Fenton, Mich., with more than 200 merchant customers. ACS Merchant Services will function as a full-service processor of credit and debit bankcard transactions for merchant and agent banks. These services will include terminal software applications for retail, lodging, restaurant and other types of businesses. In addition, ACS Merchant Services will provide full help desk services for both hardware and settlement problems, chargeback Chargeback The charge a credit card merchant pays to a customer after the customer successfully disputes an item on his or her credit card statement. Notes: Customers dispute charges to their credit card usually when goods or services are not delivered within the assistance and custom POS solutions. ACS, which already offers a wide array of services, including automated teller machines automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. (ATM) and data processing, is the only information technology services company to offer retailers a suite of integrated services for customer credit card and debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. authorization, cash dispensing, accounting and inventory systems, in addition to many other data processing services. ACS Chairman and Chief Executive Officer, Darwin Deason, said that ACS Merchant Services, Inc. will offer the company significant opportunities in the retail marketplace. He added that ACS's integrated POS, ATM and data processing services will provide a superior solution for merchants and banks. "ACS established ACS Merchant Services to address the growing demand of retailers for a suite of services offered through one source," Deason said. "Our integrated solutions approach will provide merchants with the most efficient, cost-effective services they need each and every day. Our Merchant Services program will complement the variety of services we already provide to banks." ACS Merchant Services will combine the efforts of an internal product development group with outside software providers, including the MAPP MAPP Motivational Appraisal of Personal Potential MAPP Mid-Continent Area Power Pool MAPP Mobilizing for Action through Planning and Partnerships (Palm Beach County Health Department) MAPP Model Approach to Partnerships in Parenting and VISANET networks, for software development. Hardware will be provided by outside vendors, including Verifone Inc. and Hypercom Inc. ACS Merchant Services will target middle and small businesses throughout the United States, generally one to 50 store locations per merchant. In addition, ACS Merchant Services will serve community banks of all sizes with an aggressive Agent Bank Program. ACS's presence in the retail market has seen rapid growth. The company owns and operates MoneyMaker(SM), the third largest ATM network in the nation. MoneyMaker currently is installed at 3,000 merchant, retail chain locations and financial institutions throughout the United States and is one of the fastest-growing segments of ACS's business. The company also provides data processing services for a number of retailers, including Southland Corporation, owner of 7-Eleven Foodstores. ACS Merchant Services will operate out of Boulder, Colo., and will be headed by Terry Hannum, formerly president of Bank of Boulder's merchant processing division. Rusty Shaffer, formerly vice president of sales and marketing with Bank of Boulder, has joined ACS Merchant Services as senior vice president to develop the subsidiary's sales and marketing department. With 3,000 employees nationwide, ACS provides information technology services including outsourcing, professional services, 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), and information and image management. Headquartered in Dallas, Texas, the Class A Common Stock of ACS is traded on the NASDAQ National Market System under the symbol ACSA. CONTACT: Affiliated Computer Services Affiliated Computer Services (ACS) (NYSE: ACS) is a Fortune 500 company that provides information technology outsourcing as well as business process outsourcing solutions to businesses, government agencies, and non-profit organizations. , Peter J. McLaughlin, 214/841-6285 Maria Villarino, 214/480-9458 |
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