WILMINGTON, Del., Nov. 25 /PRNewswire/ -- Electronic Payment Services,
Inc.'s (EPS) subsidiary MONEY ACCESS SERVICE INC. (MAS), processed 386 million
switch transactions during the third quarter 1998. This represented an 18%
growth over third quarter 1997. ATM volume was 18% above last year's numbers
with 349 million transactions, while MAC point-of-sale (POS) volume increased
25% over third quarter 1997 with 37 million transactions. August was an
outstanding month for MAC network transaction volume, processing a record-
setting 129.5 million transactions.
Other EPS/MAS highlights for the third quarter included:
-- In July, MAS announced a change in policy to allow financial
institutions and retail ATM deployers in the MAC network to selectively
surcharge at MAC ATMs. This change in policy went into effect on
November 1st.
-- Early in the third quarter MAS signed a landmark enterprise licensing
and reseller agreement with Novadigm(R), Inc., for it's Enterprise
Desktop Manager(TM) (EDM), a centralized application deployment and
desktop configuration manager used for graphics distribution and
merchandising support. MAS will be offering ATM graphics distribution
and merchandising support on all terminals it drives that have graphics
capability in the first quarter of '99. This allows for graphics
downloading from the host, replacing the manual loading of graphics at
each ATM by vendors via diskette. Using this product, clients can
cross-sell products, run promotions via their ATMs, or print out
coupons on customers' receipts. We will be demonstrating this product
at booth No. 3238 during BAI's Retail Delivery '98 conference.
(December 1st -3rd)
-- The MAC network became the first regional network to announce that it
will raise its online POS interchange from 6.5 cents to 10 cents,
effective July 1, 1999.
-- EPS acquired Transaction Network Services, Inc.'s (TNS) ATM terminal
driving business in the third quarter. The acquisition extends EPS'
leadership in ATM terminal driving by adding 3,000 dial-up ATMs to
total 33,000 ATMs driven.
-- The MAC network continued to increase its presence in the state of
Michigan by signing 20 financial institutions in the last three months,
bringing the total number of MAC members in Michigan to 81.
-- The MAC network added 64 new financial institution members across
15 states in the last quarter and 20 new merchants and independent
sales organizations (ISOs) in 12 states during the same period. There
are currently over 2,200 financial institution members across the
United States participating in the MAC network.
-- MAC(R) point-of-sale (POS) locations continued to grow during third
quarter, and now there are over 515,000 POS terminals and
approximately 200,000 locations displaying the MAC brand across the
U.S.
-- MAS installed almost 5,000 ATMs in the third quarter. EPS continues to
be the leading terminal driver in the industry, driving 33,000 ATMs.
-- By the end of the third quarter there were 39,000 ATMs and 40 million
cards bearing the MAC logo.
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 approximately 2.7 billion
transactions annually. EPS is the holding company for BUYPASS Corporation, a
major third-party POS processor and debit transaction acquirer with annual
transaction volume of almost 1.2 billion; and MONEY ACCESS SERVICE INC. (MAS),
an EFT processor and the nation's leading ATM terminal driver, with 33,000
ATMs driven in all 50 states. MAS is operator of the MAC EFT network, the
largest EFT network in the United States based on almost 1.5 billion switch
transactions annually. MONEY ACCESS SERVICE INC. controls the license rights
for the registered trademark MAC.
SOURCE Electronic Payment Services
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CONTACT:
Tricia L. Schafer of Electronic Payment
Services, 302-791-8906
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