News

Pulse celebrates silver anniversary

July 27, 2006

HOUSTON - Pulse EFT Association LP is celebrating its 25th year in the financial-services industry, the company announced in a news release.

Pulse got its start in 1981, when seven Texas-based bank-holding companies joined forces to launch a system to switch and settle transactions among multiple financial institutions at the ATM. In 2005, Pulse was acquired by Discover Financial Services, a business unit of Morgan Stanley.

Almost 10 billion transactions later, the network continues to provide the same basic services, as well as a variety of ancillary payment products, to more than 4,200 FIs across the nation.

Pulse links an estimated 90 million cardholders to nearly 250,000 ATMs and about 3.4 million POS terminals in all 50 states.

"Pulse has established a strong brand that is known and respected coast-to-coast by building long-standing relationships with financial institutions, processors, merchants, independent sales organizations and consumers," president David R. Schneider said.