Fiserv Creates EFT Giant

BROOKFIELD, Wis. - (07/18/03) -- Fiserv said Thursday it isconsolidating its stable of five regional electronic funds transfernetwork brands it acquired from Electronic Data Systems last yearto create one of the largest EFT networks in the country. The new network will retain the name ACCEL/Exchange,merging the ACCEL, Exchange, MPACT, TX and Instant Teller brandsinto a single network serving more than 4,000 financialinstitutions, including more than 2,100 credit unions. It willprovide member institutions with access to more than 30,000 ATMsand 180,000 merchant locations around the country, includingWal-Mart, Walgreen's, McDonald's, the U.S. Post Office, OfficeDepot, Safeway, Eckerd, Target, Shell Oil, Home Depot and Best Buy.The consolidation will make the new network the second largestregional EFT network in the country behind, the soon-to-be mergedFirst Data (NYCE) and Concord EFS (Star, Mac and CashStation)networks. Fiserv acquired the EFT networks from EDS lastyear for $320 million. The news follows by a week Fiserv'sacquisition of the remainder of EDS' credit union business,expanding Fiserv's data processing business to more than 3,400credit unions.