Fiserv EFT Transaction Volume Increases During First Half of 2005; ACCEL/Exchange Network Volume Grows 40%
Fiserv EFT Transaction Volume Increases During First Half of 2005; ACCEL/Exchange Network Volume Grows 40%
August 10, 2005
Fiserv EFT Transaction Volume Increases During First Half of 2005; ACCEL/Exchange Network Volume Grows 40%BROOKFIELD, Wis.--Aug. 10, 2005--Fiserv, Inc. (Nasdaq:FISV) and its Fiserv EFT business unit announced solid electronic funds transfer (EFT) transaction volume and strong growth rates in key transaction categories for the first six months of 2005. Fiserv EFT is an ATM and point-of-sale (POS) processing business that ranks as one of the industry's largest providers of EFT services. Overall, Fiserv EFT reported volume of 2.28 billion transactions, a 13% increase over comparable 2004 volume of 2.02 billion.
"We are pleased with our performance and anticipate we will continue to achieve new transaction processing milestones throughout the remainder of the year," said Grant Christenson, chief executive officer of Fiserv EFT. "In May, we processed in excess of 400 million transactions for the first time. With a resilient economy, rising consumer card use and our growing client base, we are more than optimistic about our processing business."
The Fiserv-owned ACCEL/Exchange Network, the nation's fifth largest EFT network, also reported solid volume growth through mid-year. Six-month transaction totals grew 40% in 2005 versus 2004, buoyed by robust POS transaction activity. For the first six months of 2005, POS activity increased by 50% to 160 million transactions. ACCEL/Exchange transactions are currently enabled at 73,000 ATMs and approximately 2.4 million POS devices nationwide.
"The success of ACCEL/Exchange is directly tied to our value delivery," said Kevin Gregoire, executive vice president of Fiserv EFT. "The ACCEL/Exchange Network provides national access, outstanding authorization performance, innovative governance and enhanced net economic performance to both issuers and acquirers."
Fiserv, Inc. (Nasdaq:FISV) provides information management systems and services to the financial and health benefits industries, including transaction processing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners and investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004. Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 FinTech 100 survey by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com.
"We are pleased with our performance and anticipate we will continue to achieve new transaction processing milestones throughout the remainder of the year," said Grant Christenson, chief executive officer of Fiserv EFT. "In May, we processed in excess of 400 million transactions for the first time. With a resilient economy, rising consumer card use and our growing client base, we are more than optimistic about our processing business."
The Fiserv-owned ACCEL/Exchange Network, the nation's fifth largest EFT network, also reported solid volume growth through mid-year. Six-month transaction totals grew 40% in 2005 versus 2004, buoyed by robust POS transaction activity. For the first six months of 2005, POS activity increased by 50% to 160 million transactions. ACCEL/Exchange transactions are currently enabled at 73,000 ATMs and approximately 2.4 million POS devices nationwide.
"The success of ACCEL/Exchange is directly tied to our value delivery," said Kevin Gregoire, executive vice president of Fiserv EFT. "The ACCEL/Exchange Network provides national access, outstanding authorization performance, innovative governance and enhanced net economic performance to both issuers and acquirers."
Fiserv, Inc. (Nasdaq:FISV) provides information management systems and services to the financial and health benefits industries, including transaction processing, business process outsourcing and software and systems solutions. The company serves more than 16,000 clients worldwide, including banks, credit unions, financial planners and investment advisers, insurance companies and agents, self-funded employers, lenders and savings institutions. Headquartered in Brookfield, Wis., Fiserv reported $3.4 billion in processing and services revenues for 2004. Fiserv was ranked the largest provider of information technology services to the U.S. financial services industry in the 2004 FinTech 100 survey by the American Banker newspaper and the Financial Insights research firm. Fiserv can be found on the Internet at www.fiserv.com.