- Transaction volume up 29 percent from 2009
- More than 1.2 billion transactions processed in 2010
- 122 million transactions processed in December 2010
BROOKFIELD, Wis.--(
BUSINESS WIRE)--
Fiserv, Inc. (NASDAQ:
FISV), the leading global provider of financial services technology solutions, announced today that its ACCEL/Exchange
® debit payments network saw record-setting growth in 2010 with an increase in total transactions of almost 29 percent from 2009.
“Our focus at ACCEL/Exchange is to help our members leverage a competitive edge in the payments marketplace”
ACCEL/Exchange established a new annual record for total transactions with more than 1.2 billion transactions processed in 2010. December 2010 also set a new monthly record with more than 122 million transactions – a year-over-year increase of 26 percent.
Among individual payment channels, point-of-sale (POS) transactions grew nearly 30 percent in 2010 to more than 1.15 billion, with ATM transactions also increasing 22 percent over the same period to 82 million. More than 300 financial institutions joined ACCEL/Exchange as new members in 2010, increasing total membership to almost 2,800 member financial institutions.
“Experiencing close to 30 percent growth in today’s challenging economic and legislative climate, speaks to our commitment to providing the most secure, innovative and profitable payment solutions to our members,” said Mike Kelly, general manager, ACCEL/Exchange, Fiserv.
Last August, Fiserv announced an innovative interchange program for members who choose ACCEL/Exchange as their exclusive PIN debit network plus subscribe to at least one additional Fiserv product or service. Members in the program have the opportunity to earn higher interchange rates and reduce overall expenses. The new program has been an overwhelming success with Network members who are looking for ways to improve and optimize their debit payments portfolio bottom line.
“Even in light of all the recent legislative efforts that impact debit card programs, the sustainability of these products as a preferred payment method can’t be denied,” states Patricia Hewitt, director of the Debit Advisory Service for Mercator Advisory Group. “Current market dynamics make it even more important for issuers to underscore the value of their debit card programs, as this market is projected to continue growing at double digit rates.”
“Our focus at ACCEL/Exchange is to help our members leverage a competitive edge in the payments marketplace,” said Kelly. “Regardless of outside influences, debit will remain a key ingredient of the payments mix because it’s secure, dependable and consumers prefer it. That’s why we’re committed to delivering innovative, cost-effective payment solutions that provide a positive financial benefit for our members. We’re focused on enhancing transaction and channel diversity to help our members strengthen their consumer relationships and attract those consumers who are increasingly impatient with financial institutions that do not offer services on their terms.”
Additional Resources:
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information management and electronic commerce systems for the financial services industry, driving innovation that transforms experiences for financial institutions and their customers. Fiserv is ranked No. 1 on the FinTech 100 survey of top technology partners to the financial services industry. For more information, visit
www.fiserv.com.
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