MEMPHIS - Bank of America Corp., which just over six months ago switched PIN-debit allegiances, leaving the Star network after 15 years for Visa U.S.A.'s Interlink network, has gone back to Star.
Star, which is owned by Memphis-based Concord EFS, is the largest PIN-number debit network in the United States
Ronald A. Congemi, the president of Star, said it had convinced B of A that Star offers more functions at ATMs than competitors. "We're very pleased to have them."
Bank of America brings 7,000 automated teller machines in 17 states back into the Star network. The company will add ATMs first; point of sale integration will come later.
Meanwhile, Star has postponed until April 1 its planned increases in POS interchange fees, and now plans to offer a tiered rate structure rather than a fixed rate, Mr. Congemi said.
At the time it announced the plan for a rate hike, Star said its move was a response to Visa's plan to raise fees for its Interlink network. The subsequent decision to move to a tiered rate structure was also meant to emulate Visa, Mr. Congemi said.
