CINCINNATI - Midwest Payment Systems signed an electronic funds transfer contract with Onbank and Trust of Syracuse.
Midwest Payment will operate all of the $6 billion-asset institution's existing automated teller machines and provide the support necessary to deploy 28 new terminals along the New York State Thruway. The processor also will expand regional network access to include the Jeanie and NYCE systems.
In addition to its ATM processing services, Midwest Payment is converting the Onbancorp subsidiary from the Visa Check Card to MasterCard's debit card alternative.
For the processor, the Onbank deal represents a move into MAC network territory. Until a recent U.S. Justice Department ruling, the network's operating policies generally restricted third-party processors from competing for MAC business. The Cincinnati company has been certified by Delaware-based MAC as a third-party processor for banks participating in the network.