Fiserv EFT Transaction Volume Continues to Soar Through Third Quarter; ACCEL/Exchange Network Posts Another 25% Increase
Fiserv EFT Transaction Volume Continues to Soar Through Third Quarter; ACCEL/Exchange Network Posts Another 25% Increase
November 16, 2004
Fiserv EFT Transaction Volume Continues to Soar Through Third Quarter; ACCEL/Exchange Network Posts Another 25% IncreaseBROOKFIELD, Wis.--Nov. 16, 2004--Fiserv, Inc. (Nasdaq: FISV) said its 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 industry's largest providers of electronic funds transfer services.
"Our transaction numbers are trending up significantly because of our continuing ability to sign clients that bring processing volume onto our switch, as well as positive card utilization across our existing client base," said Grant Christenson, CEO of Fiserv EFT. "Our client focus and outstanding service delivery track record have contributed to our growth momentum in a market that continues to undergo a fair amount of change."
The Fiserv-owned ACCEL/Exchange Network, the nation's 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.
"The ACCEL/Exchange Network is continuing to gain traction in all areas of the U.S.," said Tony Catalfano, president and chief operating officer of Fiserv EFT. "From ATM relationships with companies like Innobeta to adding merchant locations with industry leaders like ExxonMobil, we're consistently improving our points of access and have seen volume move to Fiserv."
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.
Fiserv, Inc. (Nasdaq: FISV) provides information management systems and services to the financial industry, including transaction processing, business process outsourcing and software and systems solutions. The company serves more than 15,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners and investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $2.7 billion in processing and services revenues for 2003. Fiserv can be found on the Internet at www.fiserv.com.
Fiserv EFT is an ATM and point-of-sale (POS) processing business that ranks as one of the industry's largest providers of electronic funds transfer services.
"Our transaction numbers are trending up significantly because of our continuing ability to sign clients that bring processing volume onto our switch, as well as positive card utilization across our existing client base," said Grant Christenson, CEO of Fiserv EFT. "Our client focus and outstanding service delivery track record have contributed to our growth momentum in a market that continues to undergo a fair amount of change."
The Fiserv-owned ACCEL/Exchange Network, the nation's 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.
"The ACCEL/Exchange Network is continuing to gain traction in all areas of the U.S.," said Tony Catalfano, president and chief operating officer of Fiserv EFT. "From ATM relationships with companies like Innobeta to adding merchant locations with industry leaders like ExxonMobil, we're consistently improving our points of access and have seen volume move to Fiserv."
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.
Fiserv, Inc. (Nasdaq: FISV) provides information management systems and services to the financial industry, including transaction processing, business process outsourcing and software and systems solutions. The company serves more than 15,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners and investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $2.7 billion in processing and services revenues for 2003. Fiserv can be found on the Internet at www.fiserv.com.