Fiserv EFT/CNS and ICBA Bancard Extend Joint Marketing Agreement for Seven Years.BROOKFIELD, Wis. -- Fiserv, Inc. (Nasdaq:FISV FISV Fiserv, Inc (stock symbol) ) said its Fiserv EFT/CNS unit has signed a seven-year extension of a joint marketing agreement with ICBA ICBA Independent Community Bankers of America ICBA International Center for Biosaline Agriculture ICBA Instituto Cultural Brasil Alemanha ICBA Independent Community Bankers Association ICBA International Conference on Biometric Authentication Bancard, the electronic payment services Electronic Payment Services (Chinese: 易辦事), commonly known as EPS, is the largest electronic payment system in Hong Kong, Macau and Shenzhen starting from 1985. The service is provided by EPS Company (Hong Kong) Limited. subsidiary of the Independent Community Bankers of America (ICBA). Under the agreement, ICBA Bancard will continue to offer Fiserv EFT/CNS ATM 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. processing services to its membership, and Fiserv will continue to market ICBA's Visa and MasterCard debit program sponsorship to mutual customers. The agreement continues a business relationship between Fiserv EFT/CNS and ICBA Bancard that began in 1995. "Our association with Fiserv EFT/CNS has been extremely beneficial to community banks," said David Hayes David Hayes may refer to:
"We are excited to extend our relationship with ICBA Bancard and look forward to our continued mutual success in the future," said Grant Christenson, Chief Executive Officer of Fiserv EFT/CNS. "ICBA Bancard's sponsorship of Visa and MasterCard debit programs streamlines and eases client participation in these programs and is a valuable addition to our service portfolio." ICBA Bancard is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of the Independent Community Bankers of America, "The Nation's Voice For Community Bankers." Since 1985, ICBA Bancard has provided more than 2,000 community banks with equitable access to an array of payment system products and services. Fiserv EFT/CNS serves 3,000 client endpoints across the United States, representing financial institutions of all sizes. EFT/CNS operates more than 16,500 ATMs, and owns the ACCEL/Exchange Network. EFT/CNS currently processes approximately 360 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 industry, including transaction processing, 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 15,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners and investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv reported $2.7 billion in processing and services revenues for 2003. Fiserv can be found on the Internet at www.fiserv.com. |
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