News

Fiserv EFT volume soars through 3Q '04; ACCEL/Exchange Network up 25%

November 15, 2004

BROOKFIELD, Wis.- Fiserv EFT set a record in EFT transaction volume and strong double-digit growth rates in all its transaction categories for the first nine months of 2004, according to a Fiserv Inc. (Nasdaq: FISV) news release. Overall, Fiserv EFT reported volume of 3.1 billion transactions, a 17 percent increase over comparable volumes in '03.

"Our transaction numbers are trending up significantly because of our continuing ability to sign clients that bring processing volume onto our switch, as well as positive card utilization across our existing client base," said Grant Christenson, CEO of Fiserv EFT.

The Fiserv-owned ACCEL/Exchange Network also continued to report record volume through September, the release added. Nine-month transaction totals jumped 24.5 percent to 200 million in '04. Among individual delivery channels, ATM transactions climbed 50 percent, to 31.5 million in 2004, while POS transaction activity increased by 20.7 percent, to 168.5 million.

ACCEL/Exchange transactions are currently enabled at 73,000 ATMs and approximately 2.4 million POS devices nationwide, the release noted.

In addition to ACCEL/Exchange, Fiserv drives the Armed Forces Financial Network - the Credit Union 24 network in Tallahassee, Fla. - and the surcharge-free Allpoint Network. Fiserv also processes electronic benefits transfer transactions. Transaction volume for those segments was approximately 1 billion through September '04, the release added, a 24.5 percent increase over the first nine months of '03.