News

E*Trade joins Accel/Exchange network

August 26, 2003

BROOKFIELD, Wis. -- E*Trade Access, Inc. has signed an agreement to add its network of 15,000 ATMs into the Accel/Exchange EFT network, which is owned by Fiserv, Inc. (NASDAQ:FISV).

The addition of the E*Trade ATMs into Accel/Exchange will increase the network's total ATM count to more than 50,000, according to a news release. The agreement also will enable more than 80 million Accel/Exchange cardholders to access E*Trade ATMs.

"Participation in Accel/Exchange will help us to maximize our transaction approval rates and potentially improve our profitability," said Dale Dentlinger, director of E*Trade Access.

Fiserv in July decided to consolidate its several regional network brands -- Accel, Exchange, MPACT, TX and Instant Teller -- into a single ATM and POS brand called Accel/Exchange.

Fiserv purchased EDS'Consumer Network Services, the owner of six ATM and POS networks including MPACT, Accel/Exchange and Exchange International, in late 2002. (See related story Recent purchase boosts Fiserv's ranking among EFT processors)