Card Briefs: EDS Buys Transaction A Mass. ATM Network

Electronic Data Systems Corp. has purchased Transaxion Corp., an automated teller machine network based in Wakefield, Mass., and generating 3.5 million transactions per month.

EDS has provided switching services to the 1,500-terminal network since 1984.

While EDS is taking ownership of the TX network logo, some profits will be shared with the 100 bank participants.

By offering enhanced ATM services through EDS, like postage stamps, travelers checks, and prepaid phone cards, the membership hopes to differentiate its machines from those in the superregional NYCE and MAC systems.

Neil Marcous, the executive vice president who runs EDS' automated teller machine, was a founder of the ATM network when he was working for a Massachusetts electronic payments company in 1982.

"It's kind of a thrill to be back," said Mr. Marcous. "I remember when TX had 18 banks."