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INTERLINK ANNOUNCES CHAIRMAN AND ADDS THREE MAJOR FINANCIAL INSTITUTIONS TO BOARD OF DIRECTORS

INTERLINK ANNOUNCES CHAIRMAN AND ADDS THREE MAJOR FINANCIAL
 INSTITUTIONS TO BOARD OF DIRECTORS
 SAN FRANCISCO, June 17 /PRNewswire/ -- Interlink Network announced today the appointment of David A. O'Connor, president and chief executive officer of Internet Inc., as chairman of its board of directors. In addition, three major financial institutions, The Chase Manhattan Bank, Fleet Financial Group and Great Western Bank, F.S.B. have joined Interlink's board.
 Internet is owner and operator of the MOST network, serving 440 member financial institutions and 16 million cardholders. Just last week, Interlink announced the addition of 13 regional networks, raising the total number of networks committed to processing Interlink transactions to 22.
 Drew J. Otocka of The Chase Manhattan Bank, Peter L. Hood of Fleet Financial Group and J.D. Oflock of Great Western Bank join the Interlink Board, bringing the total number of board members to 20.
 "My appointment as Interlink chairman comes at an exciting stage in the development of point-of-sale debit," said O'Connor. "I am pleased to play a role in the shaping of what is, and will continue to be, the premier national on-line, direct-debit program," O'Connor said.
 "David O'Connor's leadership within this industry and his experience with Internet make him a valuable asset to Interlink," said Wesley C. Tallman, president and chief executive officer of Interlink Network. "We know he will play an integral part in the continued growth of Interlink," Mr. Tallman said.
 "Adding three financial institutions with the stature of Chase Manhattan, Fleet and Great Western represents an unequalled endorsement from the financial community," Tallman said. "The total of 98 bank holding companies, representing 233 financial institutions, that have now signed up with Interlink has not only met, but exceeded our expectations," added Tallman.
 Interlink has been in operation in five Western states since the mid-1980s and currently processes more than half of all direct-debit, point-of-sale transactions conducted in the United States. The network processed more than 100 million transactions last year, generating more than $2.5 billion in sales, and currently has more than 12.5 million cardholders.
 Following its acquisition of Interlink in the fall of 1991, Visa U.S.A. expanded the program nationwide, launching the country's first national on-line, direct-debit program months ahead of the competition. Interlink is a subsidiary of Visa U.S.A.
 -0- 6/16/92
 /CONTACT: Debbe Stern, 415-570-3510; or Paul Wheaton, 415-378-4185, both of Visa U.S.A./ CO: Interlink Network; Visa U.S.A ST: California IN: FIN SU: PER


MC -- SF002 -- 1005 06/17/92 10:30 EDT
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Publication:PR Newswire
Date:Jun 17, 1992
Words:423
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