STAR SYSTEM REPORTS RECORD 1991 PERFORMANCE TO RANK AS LARGEST REGIONAL ATM NETWORK IN THE U.S.
STAR SYSTEM REPORTS RECORD 1991 PERFORMANCE TO RANK AS LARGEST REGIONAL ATM NETWORK IN THE U.S. SAN DIEGO, Feb. 10 /PRNewswire/ -- Star System Inc., the largest regional network of automated teller machines (ATMs) in the United States, processed 203 million total transactions in 1991, an increase of more than 43 percent over 142 million transactions processed in 1990, it was announced today. Reflected in the total is record transaction volume posted by Explore, the point-of-sale (POS) service operated by Star System Inc. Explore processed 22 million transactions, an increase of 47 percent over 15 million transactions processed in 1990. "Star System and Explore continue to expand dramatically each year reflecting strong consumer acceptance and value of these financial services," said Ronald V. Congemi, president of Star System Inc. "The significant growth of Explore in terms of ATM cardholder transactions and merchant participation made an important contribution to the overall increase in transaction volume." Explore increased merchant participation dramatically, expanding the number of merchant locations to 10,100, up 237 percent from 3,000 locations in 1990. Among the major new merchants added to Explore are Exxon gasoline stations and Ralph's, Raley's and Safeway supermarkets. Total Star System financial institution members at year-end were 592, an increase of 17 percent over 530 in 1990. Growth also was registered in the number of cardholders who can use the ATM network. The cardholder base jumped 7 percent to 73.2 million from 68.3 million in 1990. In addition, the number of participating ATMs grew by 12 percent to 12,467 total ATMs from 11,092 in 1990. Star System Inc. is the largest electronic funds transfer network in the West, processing more than 18 million transactions monthly through more than 23,000 ATM and POS locations. -0- 2/10/92 /CONTACT: Nikki Shaw of Star System, 619-234-4774; or Laura Fitzpatrick of Braun Ketchum, 213-385-3481, for Star System/ CO: Star System Inc. ST: California IN: FIN SU:
KJ-CH -- LA027 -- 8312 02/10/92 13:02 EST
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|Date:||Feb 10, 1992|
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