FORT WASHINGTON, Pa. -- Former MAC network CEO Douglas D. Anderson has been hired as president of Genpass Inc.'s new subsidiary Genpass ATM Solutions. The company's goal is to provide a new approach to ATM placements and to new functions that will be a source of revenues for its customers and a convenience for its cardholders.
Anderson has more than 20 years of experience in the EFT industry. At Philadelphia National Bank, he was among the founders of the MAC network, the first shared ATM network.
As president of Genpass ATM Solutions reporting to Genpass President and CEO Bipin C. Shah, Anderson's job will be to aid financial institutions and corporate customers of the Genpass networks in identifying premium locations for ATM placements. The company, which will be headquartered in Dallas, will focus on deployment strategies that can grow transaction volumes and increase revenues.
Working for Shah, Anderson managed MAC during the inception of POS, the introduction of home banking and bill payments, the addition of cheaper cash dispensers and the opening of off-site banking locations. Shah and Anderson negotiated key acquisitions and expanded network product and service offerings to include national gateways, smart cards and advanced function ATMs.
Under Shah's and Anderson's leadership, the MAC network became one of the largest EFT organizations in the country. Anderson became the first CEO of Electronic Payment Services Inc. (EPS) from 1992 to 1994, when EPS was formed by a consortium of banks that shared ownership of the MAC network.
In 1994, Anderson left EPS to co-found Card Alert Services Inc. The company worked with leading regional ATM networks to protect PIN-based debit cards from multi-card counterfeit and skimming fraud schemes. Anderson served as its chairman until the company's sale this year.
Genpass Inc., which owns the MoneyMaker EFT network, recently acquired the Money Belt network and owns the largest independent ATM servicing and maintenance business in the United States: Genpass Service Solutions.
