News

eFunds, U.S. Postal Service ink processing agreement

November 30, 2005

SCOTTSDALE, Ariz. - eFunds Corp. will provide payment-processing switching services, debit-gateway processing and back-office solutions for the U.S. Postal Service.

The solution, which follows a previous software agreement signed in 2004, will be delivered through facilities-management and debit-gateway-processing agreements that provide a hybrid of in-house software and outsourced payment services.

Once fully implemented, eFunds will drive transaction processing at more than 34,000 USPS locations and 65,000 POS devices nationwide. USPS's eCommerce business and 2,500 Automated Postal Center self-serve kiosks also are expected to be supported under the agreement.

"Through a flexible combination of proven in-sourced and outsourced services, we are able to meet the precise business needs of our customers," said Rahul Gupta, senior vice president and division executive of eFunds' Payment Account Solutions.

The solution includes ISTR/Switch and IST/eMerchant licensed software, debit gateway processing services, and additional back-office and settlement components.

Components that will be located at USPS's facilities and managed in-house include DataDistributorT for real-time delivery of transactions to the back office as well as DataNavigatorR and eFunds' settlement software for end-of-day settlement processing, transaction research and exception-item management.