Integrated Delivery Technologies Inc. said it has added 12 financial institutions in New York State to its Cartel electronic banking network.
The signings follow 14 in November and bring the number of institutions processing directly with Cartel to 40.
The network was founded three years ago by automated teller machine entrepreneur Joseph E. Wolfson to offer community banks and credit unions an alternative to the major regional ATM networks. Cartel offers its members a "no surcharge" capability to set themselves apart from the bigger institutions that tend to impose ATM surcharges on noncustomers.
Mr. Wolfson has won endorsements from several community banking trade associations giving several hundred financial institutions access to Cartel. Including interchange and processing agreements, Cartel reaches 16,724 terminals at 10,633 locations in 48 states.
"We are really starting to cook as a legitimate, national network," Mr. Wolfson said. "In January alone our volume went up 143%. We are adding banks weekly. This could be a very good year for our company."