- Transactions up 31 percent for first six months of 2011.
Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, announced today that its ACCEL/Exchange(R) debit payments network brought nearly 250 financial institutions to the global PIN debit ATM and debit network in the first half of 2011, bringing total membership up to more than 2,900 financial institutions. Concurrent with the addition of these new members, Fiserv has seen transaction volume in the network increase as well. Transactions at both ATMs and point of sale (POS) are up 31 percent for the first six months of 2011.
Fiserv is also seeing an increase in clients choosing to exclusively brand ACCEL/Exchange. In fact, for every 10 new or renewed members, eight financial institutions have chosen ACCEL/Exchange as their exclusive PIN debit network.
Oregon-based Rivermark Community Credit Union, with $525 million in assets, chose ACCEL/Exchange as its exclusive PIN POS network, consolidating both its signature and PIN debit services to a single processor.
"After we witnessed the power of ACCEL/Exchange, having just one network made sense to us," said Bobbi Brown, Vice President of Information Technology for Rivermark. "It gives us more control for servicing our members, and as an exclusively branded ACCEL/Exchange member, we were able to enhance our revenue even further. It was a win for Rivermark and our members."
First National Bank of South Carolina chose the ACCEL/Exchange debit payments network because of the benefits, great customer service, and value-based pricing that membership in the network brings. "We felt ACCEL/Exchange offered a greater overall value proposition," said John L Wiggins III, Vice President & Cashier, First National Bank of South Carolina. "Its low participation fees and competitive interchange rates were appealing, especially in todayâs environment, and weâve been extremely pleased with the results thus far. The support we received during and after our conversion was outstanding, and the ACCEL/Exchange group has been very helpful and easy to work with."
ACCEL/Exchange membership provides access to a host of benefits including Internet PIN debit transactions, a member-driven advisory council, marketing support and many other innovative value-added solutions. A new service being rolled out to members is the ACCEL/Exchange Scorecard. The ACCEL/Exchange Scorecard assimilates a wide range of key network performance metrics and other data into a simple and easy-to-use format. The scorecard reports on and tracks a comprehensive array of ACCEL/Exchange metrics including percentage of ATM and POS activity, interchange statistics, cash back percentages and more. The new version of the scorecard will also incorporate peer segmentation functionality. This peer segmentation customization feature will allow ACCEL/Exchange members to compare and contrast their network program activity to other unidentified but peer members using specific selectable criteria.
"We expect to continue adding new members as more financial institutions avail themselves of the benefits of participating in the ACCEL/Exchange Network and recognize the value proposition and cost efficiencies they can gain," said David Keenan, general manager, ACCEL/Exchange, Fiserv. "A cost effective network like ACCEL/Exchange can provide innovative payment solutions that can help reduce costs and offset losses that financial institutions may incur due to a changing revenue landscape."