STRATEGIC PARTNERS
March 5, 2002
MAITLAND, Fla. -- Star Systems, Inc. (STARsm) and eFunds Corporation (Nasdaq: EFDS) announced a multi-year agreement that will extend the 16-year relationship between the two companies.
According to the terms of the contract, eFunds will continue to provide processing services for the STAR Western platform while also providing ATM terminal driving support services for ATMs managed by STAR.
As with earlier agreements, STAR will provide first-line customer service to its member financial institutions, retailers and processors while eFunds will provide secondary support to ensure seamless transactions. Currently, eFunds switches approximately 120 million STAR transactions a month in the West.
"We believe we have structured a deal that is good for both parties by extending the current processing agreement for STAR's Western region and taking on the new ATM-driving support," said J.A. Blanchard, eFunds chairman and CEO.
STAR and eFunds anticipate implementing the shift in terminal driving support by the end of 2000.
