PHOENIX, Ariz. -- eFunds Corporation (Nasdaq: EFDS) announced a multi-year contract extension to provide processing services to CO-OP Network, the largest credit union EFT network in the country.
eFunds provides ATM driving, transaction switching and routing, VisaCheck and MasterCard Debit services and other processing to CO-OP Network. In addition, CO-OP licenses eFunds' DataNavigator, an EFT data management tool.
eFunds and CO-OP Network have had a business relationship since 1988. "The benefit to our clients includes increased efficiency and reliability in switching services and product enhancements that add value to the services offered to our members," said Robert Rose, president and CEO of CO-OP Network.
The largest third-party EFT processor in the United States, eFunds processes more than 5 billion transactions a year. eFunds drives or operates more than 9,000 ATMs for financial services companies and non-bank ATM deployers.
CO-OP Network, based in Ontario, Calif., provides electronic financial products and services for more than 633 member credit unions in 39 states. CO-OP Network members enjoy surcharge-free access to nearly 3,900 ATMs, of which more than 70 percent have deposit capability.
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