News

Pulse adds more than 270 new members in '03

September 8, 2003

HOUSTON - The Pulse EFT Association says it has strengthened its position in 2003 as a valuable resource to its member financial institutions and their cardholders.

In a news release, Pulse cited several accomplishments, including the addition of more than 220 new member financial institutions and 56 new ISOs to the network; record highs in total volume processing for March, May, July and August; and the hosting of 15 seminars and training classes covering topics ranging from debit card security and liability to exception item processing.

Pulse also added new merchants to its Pulse Pay program, which allows consumers to make purchases and receive cash back at the point-of-sale, including Gap, Barnes and Noble, ShopKo and Office Max.

These achievements occurred during the beginning stages of Pulse's move to an in-house solution for switching and settlement. Pulse relocated its Houston headquarters office to accommodate a new data center and to provide space for more employees, according to the release.

Pulse also created several informational publications to benefit its members, including an Internet Banking Guide to help members determine how they can best fill their online banking needs, and a guide to Effective Encryption Key Management Practices.

New products Pulse introduced in 2003 were Pulse Online, software that can be customized by individual members to meet their online banking needs, and Pulse Access, a stored value card solution that is slated for rollout in the fourth quarter.

Pulse is an independent financial industry-owned and controlled EFT network, currently serving more than 4,000 bank, credit union and savings institution members across the country, according to the release.

The network links an estimated 90 million cardholders with more than 200,000 ATMs
and 3.2 million POS terminals at retail locations nationwide.