News

Fiserv transaction volumes rise 18% in first half of '04

July 25, 2004

BROOKFIELD, Wis. - Fiserv, Inc. (Nasdaq:FISV) says that its Fiserv EFT/CNS business unit experienced record-setting EFT transaction volume and double-digit growth rates in all its transaction categories for the first six months of 2004.

According to a news release, Fiserv EFT/CNS reported volume of just over 2 billion transactions, an 18 percent increase over volumes in the same period of 2003.

The Fiserv-owned Accel/Exchange Network, the nation's fifth largest EFT network, also reported record volume through mid-year. Six-month transaction totals increased 25 percent to 127 million in 2004.

Accel/Exchange ATM transactions climbed 62 percent to 21 million in 2004, while point-of-sale transaction activity increased by 19 percent to 106 million.  Accel/Exchange currently enables transactions at 55,000 ATMs and approximately 1.5 million POS devices nationwide.

Tony Catalfano, president and chief operating officer of Fiserv EFT/CNS, attributed ATM transaction growth for Accel/Exchange to the addition of more than 20,000 ATMs to the network during the second half of 2003.

In addition to Accel/Exchange, Fiserv drives the Armed Forces Financial Network (AFFN), Credit Union 24 and the surcharge-free Allpoint Network, and processes electronic benefits transfer EBT transactions. Transaction volume for these segments was 798 million through midyear 2004, a 26 percent increase over the first six months of 2003.

According to Grant Christenson, CEO of Fiserv EFT/CNS, Fiserv is now the nation's second-largest PIN-based point-of-sale debit switch. In the first six months of 2004, Fiserv increased its PIN-based point-of-sale volume by 28 percent to 639 million transactions.