Diebold Inc. said it has acquired Pioneer Systems Inc., a company that specializes in connecting campus card systems to financial institutions.

Pioneer Systems developed an Open Banking system that lets students, faculty, and staff link bank accounts to their university identification cards. The system was installed in August 1998 for 100,000 cardholders on 23 Pennsylvania State University campuses.

Our multibank interface allows colleges and universities to establish relationships with more than one financial institution, which benefits both the school and the user, said Wendy Buterbaugh, general manager of Pioneer Systems. Besides the convenience of using a single card both on and off campus at any MAC or Plus automated teller machine, users can add stored value to the smart chip on their cards from their checking accounts within seconds.

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.