BROOKFIELD, Wis. - Fiserv, Inc. (Nasdaq:FISV) said its Accel/Exchange EFT network saw its volume soar more than 57 percent in 2003, to 223 million transactions.
Accel/Exchange had logged 141 million transactions in 2002. Among individual delivery channels, point-of-sale transactions jumped 66 percent in 2003 to 192 million, while ATM transactions increased 19 percent to 31 million.
"Our overall growth rate of 57 percent makes Accel/Exchange one of the nation's fastest growing EFT networks," said Kevin Gregoire, senior vice president of Products and Networks for Fiserv EFT/CNS, owner/operator of Accel/Exchange. "In 2003, we added more than 22,000 ATMs and 60,000 merchant locations to our network."
The remainder of Fiserv EFT/CNS also posted strong growth in 2003, with total transactions increasing 17 percent to nearly 4 billion. The total in 2002 was just over 3 billion transactions.
A key component in Fiserv EFT/CNS' total volume was merchant processing; more than 80 percent of the organization's volume in 2003 involved POS transactions. Other transactions included in Fiserv EFT/CNS volume are network services, financial institution processing and electronic benefits transfer (EBT) services.
In addition to its own Accel/Exchange network, Fiserv EFT/CNS also drives the Armed Forces Financial Network (AFFN); the Credit Union 24 network; the surcharge-free Allpoint Network; and EBT transactions.
