WILMINGTON, Del., Feb. 11 /PRNewswire/ -- Electronic Payment Services,
Inc. (EPS) announced that its MAC(R) EFT network reached a major milestone in
1996, processing over 1 billion switch transactions in a year for the first
time in the company's history. The 1996 volume of 1.1 billion switch
transactions represented 19% growth over 1995. The MAC network is the largest
EFT network in the United States based on switch transactions, processing one
out of every five shared transactions in the U.S., according to industry
publications.
0ther highlights of the fourth quarter included:
-- The MAC network added 38 new financial institution members across
17 states in the fourth quarter, for a total of 198 new members in 1996.
There are currently 2,100 financial institutions across 45 states
participating in the MAC network.
-- The MAC network became the first debit network to participate in a new
away-from-home calling service from MCI telecommunications, 1-800-ANY-CALL.
This pay-as-you-go service allows consumers to pay for calls by using MAC
cards or participating ATM, credit, T&E or telephone calling cards, or by
calling collect. MCI signed an agreement with BPS gateway services to provide
transaction routing and authorization for all calls charged to participating
debit and credit cards.
--- Philip Valvardi was named president of the MAC network. He is
responsible for managing relationships with the 2,100 members of the MAC
network, as well as for coordinating network pricing and policies.
EPS, a privately held company headquartered in Wilmington, Delaware, is
the holding company for BUYPASS Corporation, a major third-party POS processor
and debit transaction acquirer, and MONEY ACCESS SERVICE INC., an EFT
processor and operator of the MAC network. MONEY ACCESS SERVICE INC. controls
the license rights for the registered trademark MAC.
SOURCE Electronic Payment Services, Inc.
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CONTACT:
Tricia Schafer, Public Relations Associate of
Electronic Payment Services, 302-791-8906
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