WILMINGTON, Del. - Electronic Payment Services Inc., owner and operator of the MAC automated banking network, announced that it achieved its financial plan for fiscal year 1994.
EPS is a privately held company and does not disclose specific financial data.
The company said its Money Access Service subsidiary switched 14.4 million point of sale transactions in the first quarter, a 53% increase from a year earlier. It processed 282 million automated teller machine transactions during the quarter, a 10% increase.
EPS's point of sale processing subsidiary, Buypass Corp., processed 17 million debit POS transactions during the first quarter, up 45%.
Recently EPS formed a gateway services unit, responsible for the management and delivery of all debit, credit, and electronic benefits transfer gateway services links nationwide.
Implementation of these services, which will support the company's member financial institutions and merchant customers with 70 gateways, including third-party processors, is expected to be completed by December.