BUYPASS Corporation announced today that it hit an all time high of 17 million debit POS transactions in June which represents a 70% increase in debit POS over second quarter 1996.
Other highlights for the second quarter include:
— BUYPASS reported 241.6 million total transactions in the second quarter for growth of 29%, over second quarter 1996. BUYPASS also reported within that total, a record 48.5 million debit POS transactions for the second quarter, which represents a 70% increase over second quarter 1996.
— Early in the second quarter BUYPASS signed Pennzoil in a deal that includes a processing agreement with its subsidiary Jiffy Lube, the largest quick change oil company in the United States. The agreement is for 850 locations encompassing Pennzoil gas stations and company owned Jiffy Lube stores. Pennzoil will also offer BUYPASS POS services to an additional 900 franchise stores.
— BUYPASS recently added the states of Georgia, Iowa and Missouri to its EBT program. The addition of these states brings the total number of EBT states available through BUYPASS to 19. EBT volume continues to grow at a rapid pace with over 5 million transactions in the second quarter for a 28% increase over second quarter 1996.
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 over 2 billion transactions annually. EPS is the holding company for BUYPASS Corporation and MONEY ACCESS SERVICE INC.
BUYPASS Corporation, headquartered in Atlanta, Georgia, is a major third-party POS processor and debit transaction acquirer with annual transaction volume of over 900 million. BUYPASS provides processing for 50 of the top 200 grocery store chains in the United States. One out of every ten debit POS transactions performed in the United States is processed by BUYPASS.
BUYPASS also provides gateway access to over 46 debit and credit gateways and electronic benefits transfer (EBT) programs in 19 states.Details