HOUSTON -- The PULSE EFT Association processed an all-time high of 48.4 million transactions in December 2000, boosting volume for the year to a record 536 million transactions processed through the PULSE Switch.
This 26 percent increase over 1999 marked the 19th consecutive year of growth for PULSE, topping industry and company.
The year-end PULSE figures also reveal an online POS debit card usage growth rate of 28 percent and a rise in ATM use of 6.8 percent. Both figures, according to PULSE, surpass projections from a national study estimating industry growth of 17.5 percent in POS transactions and 1.3 percent in ATM use during 2000. Complementing these increases was heightened dependability, with the PULSE Switch performing at 99.9 percent availability.
"The association's board and staff take pride in the service performance of the network," said Stan Paur, PULSE president and CEO. "The quality of the program provides customers with reliable, uninterrupted ATM and POS services. With the ever-growing utilization of debit cards as a preferred method of payment or for accessing cash, such service levels are no longer just important, they are essential."
A dramatic increase in the number of retailers accepting debit cards for online payment, Paur noted, helped the growth of PULSE's POS service PULSE PAY to 230 million transactions. More than 81,000 merchant locations were added in the network's primary service area during 2000 for a total of 250,000 locations now offering PULSE PAY. Many participating merchants offer customers cash back at no charge when they make purchases with a debit card.
The year 2000 was also successful for the PULSE Debit Support Service, PULSE DSS, which processed nearly 44 million off-line debit transactions -- an increase of more than 81 percent over the previous year.
PULSE added 129 new financial institutions to its roster in 2000, bringing membership to more than 2,000 banks, credit unions and savings and loans.
