MAC NETWORK SIGNS NATWEST USA
MAC NETWORK SIGNS NATWEST USA PHILADELPHIA, Aug. 17 /PRNewswire/ -- The Money Access Service Inc.
(MAC) announced today that National Westminster Bank USA has signed a three-year contract with the Philadelphia-based electronic funds transfer network.
The contract will increase the MAC network's market share in New York state by approximately 10 percent, and brings its current cardbase to 18.5 million. "This agreement significantly strengthens our position in a market that we have targeted for growth in 1992," said Donald J. Gleason, MAC senior vice president and network manager. Gleason added that NatWest was attracted by the MAC network's new product and service offerings, and the resultant benefits to cardholders in terms of convenience. According to a NatWest spokesperson, the association with the MAC network reflects the financial institution's ongoing commitment to enhance the effectiveness of its retail delivery system. Gleason said, "With our continuing focus on new product development, the MAC network will be a valuable asset in this ongoing effort. NatWest Banks operate more than 300 ATMs located in New York and New Jersey; approximately 125 are located in New York City and Long Island. Targeted date for going live with the MAC network is September 1992. The MAC system currently has 940 participating financial institutions and approximately 18 million cardholders. MAC-branded terminals can be found primarily in seven states, including Delaware, Maryland, New Hampshire, New Jersey, New York, Pennsylvania and West Virginia. The MAC network is the leading regional ATM network in the nation for switched transactions. It is among the top ATM network in total transactions, and a leading provider of point-of-sale services, recording 51 million transactions per month through 7,827 ATMs, including more than 1 million POS transactions per month through 10,000 point-of-sale locations. A new joint venture between CoreStates Financial Corp, Banc One Corporation, PNC Financial Corp and Society Corporation announced on July 22 and expected to be effective in the fourth quarter, will expand the MAC network's market base to 13,000 ATMs in 16 states, with a monthly switched volume equating to 21 percent of the national switched volume. MAC and the Money Access Service Inc. are trademarks of the MAC program, which is offered as a correspondent banking service of CoreStates Bank, NA. /delval/ -0- 8/17/92 /CONTACT: Belle Gauvry of Earle Palmer Brown & Spiro, 215-851-9676, for MAC Network/ CO: MAC Network ST: Pennsylvania IN: FIN SU: CON
MJ-MP -- PH009 -- 0455 08/17/92 11:15 EDT
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|Date:||Aug 17, 1992|
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