Fiserv Says Acquisition Of EDS UnitShould Lower EFT Costs

BROOKFIELD, Wis. - (12/16/02) Look for lower costs for electronicfunds transfer (EFT) processing, and services tailored to creditunions clients as a result of Fiserv Inc.'s acquisition of Plano,Texas-based EDS Corp.'s Consumer Network Services (CNS) unit lastmonth, according to Paul Frank, president of Fiserv's e-productsand services. The $320-million deal makes Fiserv one of thecountry's top five EFT processors, as the CNS unit will double itsclient base and automated teller machine (ATM) operations, saidLeslie Muma, Fiserv president and CEO. Fiserv now runs more than18,500 ATMs nationwide, up from 13,000 before the CNS deal. Thedeal brings "a lot of new credit union customers and newcapabilities," Muma added. Fiserv will provide continued service toEDS credit union clients. Fiserv will now serve more than 4,700electronic payment and payment clients, 425 of which are CUs, Franksaid.