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PULSE EFT Association Transaction Volumes Grows Rapidly

Tuesday 20 April 2004 17:26 CET | News

PULSE processed a record number of transactions through the first three months of the year, representing an increase of 35 percent over the first quarter of 2003 and well beyond last years overall growth rate of 26.5 percent. That increase, coupled with PULSEs significant gains in membership and delivery of value-added services such as expansion of its stored value card program for its members, highlighted a stellar first quarter for the lone remaining major EFT network operated by financial institutions, for financial institutions. PULSE achieved the following growth milestones in the first quarter: - A rise of 44 percent in PIN debit transactions at the point of sale (POS) compared to the same period last year. - An increase of 24 percent in ATM transactions compared with the first quarter of 2003. - Recruitment of more than 110 new member financial institutions. - The addition of several major national retailers to the PULSE PAY PIN debit merchant network. Other significant accomplishments for the quarter include: - Election of Jerry Host -- a director of Jackson, Miss.-based Trustmark National Bank and president of Trustmarks General Banking -- as the new chairman of the PULSE Board of Directors. - Growing enrollment in the networks PULSE Access stored value card program. Institutions of all types and sizes are choosing PULSE Access to provide a range of stored value products customized to their needs, including payroll, family and gift cards. To date, 31 financial institutions have signed on to the recently inaugurated service. - The launch of an educational campaign to inform members, industry leaders, associations, public policymakers, regulators and the news media relative to the critical role that PULSE and its financial institution members play in the electronic payments system. Elements of this program include development of a Public Affairs Council; launch of a new national study on consumer payment loyalties, the results of which will be announced later this month; and ongoing collaboration with banking associations and credit union leagues around the country. - Completion of the migration of settlement and report distribution to PULSEs state-of-the-art, in-house platform. - A record-breaking 200 exhibitors -- including vendors, processing companies and service suppliers -- and 644 financial institution attendees at TechMecca 2004, the financial industrys premier technology conference and expo, co-sponsored by PULSE, the Independent Bankers Association of Texas and the Texas Credit Union League.

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

Payments & Commerce