WILMINGTON, Del., Feb. 18 /PRNewswire/ -- Electronic Payment Services,
Inc. (EPS) announced that its MONEY ACCESS SERVICE INC. (MAS) subsidiary,
operator of the MAC(R) EFT network, processed 1.491 billion switch
transactions in 1998. This represented an 18.3% growth in switch transaction
volume over 1997.
Other highlights for the year included:
-- 146.7 million point-of-sale (POS) transactions were performed by MAC
cardholders at MAC-branded POS terminals in 1998, an increase of
26.5% over 1997 volumes.
-- The MAC network added 185 new financial institution members in 1998.
There are currently over 2,500 financial institution members
participating in the MAC network that span all 50 states.
-- Over 80 merchants and retail ATM deployers signed with MAC in 1998.
MAS currently drives 33,500 ATMs, over half of which are dial-up ATMs
located primarily in retail and other remote locations.
-- As of year-end 1998, there were 42,500 ATMs and over 40 million cards
in the MAC network.
Electronic Payment Services, Inc. (EPS), a privately-held company
headquartered in Wilmington, Delaware, is a leading electronic funds transfer
(EFT) processor in the United States, with 2.7 billion transactions annually.
EPS is the holding company for BUYPASS Corporation, a major third-party POS
processor and debit transaction acquirer; and MONEY ACCESS SERVICE INC. (MAS),
an EFT processor and operator of the MAC EFT network. MONEY ACCESS SERVICE
INC. controls the license rights for the registered trademark MAC.
SOURCE Electronic Payment Services
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CONTACT:
Melinda D. Mercurio of Electronic Payment
Services, 302-791-8109
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