Bipin C. Shah, a bank technologist who spent the 1980s bringing the MAC automated teller machine network to prominence, wants to do the same thing with an electronic funds transfer network he has set up.

Mr. Shah's new project is a company called Genpass Inc., which got its start this week when GTCR Golder Rauner LLC, a private equity firm in Chicago, agreed to put up $180 million for Genpass to buy the EFT and ATM businesses of Affiliated Computer Services of Dallas. Affiliated's network has 16,000 machines in 49 states and processes 220 million transactions a year.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.