The ACCEL/Exchange Network, owned and operated by Fiserv, Inc., has experienced an “unprecedented growth spurt” in the U.S. and Canada over the last two years, according to Mike Williams, senior vice president of the ACCEL/Exchange Network. The Network, currently the United States’ third largest based on total transaction volume, signed 272 new members in 2006 and has grown its in-network transaction volume by 89% over the last two years to 455 million transactions. ACCEL/Exchange transactions are currently enabled at more than 180,000 ATMs in North America and most major merchant locations throughout the United States.
“More people are using their debit card more frequently, and it’s driving the ACCEL/Exchange Network’s growth to unprecedented levels. We expect the trend to continue in 2007. Also we debuted several new services, including DEPOSIT HERE!, our deposit sharing program that enables cardholders to make deposits at participating member ATMs, and NO SUR!, our no-surcharge program that gives cardholders access to surcharge-free ATMs,” said Williams. “By continuing to deliver outstanding network performance and value in 2007, we anticipate our rapid growth will continue.”
Membership among Canadian financial institutions has been particularly robust, increasing 228% from 2004 to 2006, Williams reports. The 246 Canadian financial institutions that participate in ACCEL/Exchange are part of FICANEXÂ®, the exclusive licensor in Canada of all intellectual property associated with the operation of the ACCEL/Exchange Network. “The members of FICANEX, with whom we have enjoyed a successful partnership dating back two decades, are responding to our network’s value-added services. These include accessibility of THE EXCHANGEÂ® ATMs–of which there are more than 2,100 throughout Canada–as well as the ability for customers to use their ACCEL/Exchange debit card to make purchases and get cash back from hundreds of thousands of merchants in the U.S.”
“Canadian cardholders also enjoy the convenience of being able to cross the border and use their debit cards in the U.S.,” said Barbara Ciarniello, board chair of FICANEX. “For example, our cross-border point-of-sale transaction volume has increased more than 500% since 2004. We are finding that cardholders are very satisfied with the convenience, and financial institutions are enthusiastically signing on to our network.”
ACCEL/Exchange is one of North America’s premier ATM/POS networks, providing financial institutions with the infrastructure for cardholder access to their funds anytime, anywhere. The network is owned and operated by Fiserv, Inc. (NASDAQ: FISV) through its Fiserv EFT business unit. In addition to managing ACCEL/Exchange, Fiserv EFT provides ATM and debit services to more than 2,700 financial institutions across the United States. Fiserv EFT operates more than 17,000 ATMs and currently processes approximately 450 million ATM and debit transactions per month, making it one of the largest electronic funds transfer (EFT) processors in the nation.
Fiserv, Inc. (NASDAQ:FISV), a Fortune 500 company, provides information management systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, business process outsourcing (BPO), software and systems solutions. The company serves more than 18,000 clients worldwide and is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. Headquartered in Brookfield, Wis., Fiserv reported more than $4.5 billion in total revenue for 2006. For more information, please visit www.fiserv.com.