Fiserv EFT Transaction Volume Continues to Soar Through Third Quarter

Wednesday 17 November 2004 11:26 CET | News

Fiserv EFT unit logged record-setting electronic funds transfer (EFT) transaction volume and strong double-digit growth rates in all its transaction categories for the first nine months of 2004. Overall, Fiserv EFT reported volume of 3.1 billion transactions, a 17% increase over comparable volumes in 2003.

Fiserv EFT is an ATM and point-of-sale (POS) processing business that ranks as one of the industrys largest providers of electronic funds transfer services. The Fiserv-owned ACCEL/Exchange Network, the nations fifth largest EFT network, continued to report record volume through September. Nine-month transaction totals jumped 24.5% to 200.0 million in 2004. Among individual delivery channels, ATM transactions climbed 50% to 31.5 million in 2004, while POS transaction activity increased by 20.7% to 168.5 million. ACCEL/Exchange transactions are currently enabled at 73,000 ATMs and approximately 2.4 million POS devices nationwide. In addition to ACCEL/Exchange, Fiserv drives the Armed Forces Financial Network (AFFN), the Credit Union 24 network in Tallahassee, Fla., and the surcharge-free Allpoint Network, and processes electronic benefits transfer (EBT) transactions. Transaction volume for these segments was approximately 1 billion through September 2004, a 24.5% increase over the first nine months of 2003.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce