Chase renews EBT agreement with Fiserv unit

Chase renews EBT agreement with Fiserv unit
Tags: Transaction Processing
June 9, 2004

BROOKFIELD, Wis. - Fiserv, Inc.'s (Nasdaq: FISV) Fiserv EFT/CNS unit has extended its national electronic benefits transfer (EBT) gateway switch agreement with JPMorgan Electronic Financial Services (JPMorgan EFS), the nation's largest EBT service provider.

According to a news release, Fiserv will continue to provide JPMorgan EFS with the infrastructure that connects acquirers to authorization endpoints for processing Food Stamp Program and Temporary Assistance to Needy Families (TANF) transactions, among others.

Terms of the contract extension were not disclosed.

Fiserv processing volumes under the agreement are currently more than 60 million transactions per month.