BROOKFIELD, Wis. - Fiserv Inc.'s EFT business unit announced solid EFT transaction volume and strong growth rates in key transaction categories for the first six months of 2005.
According to a news release, Fiserv EFT reported volume of 2.28 billion transactions, a 13 percent increase from the comparable period in 2004, which had a reported volume of 2.02 billion.
"We are pleased with our performance and anticipate we will continue to achieve new transaction processing milestones throughout the remainder of the year," said Grant Christenson, Fiserv EFT's chief executive. "In May, we processed in excess of 400 million transactions for the first time. With a resilient economy, rising consumer card use and our growing client base, we are more than optimistic about our processing business."
The Fiserv-owned ACCEL/Exchange Network, the nation's fifth-largest EFT network, also reported solid volume growth through mid-year. Six-month transaction totals grew 40 percent in 2005 from 2004, buoyed by robust POS transaction activity. POS activity increased 50 percent to 160 million transactions.
