The biggest regional electronic banking networks reached record highs in terms of transaction volume last year, mostly propelled by explosive growth in point-of-sale debit cards.
Here are the yearend results supplied by the top six networks:
Star System Inc., San Diego, boosted its total transactions by 12% from 1993 to 1994.
Its automated teller machine transaction growth was 7%.
Transactions through Explore, Star's point-of-sale debit card network, climbed to 70 million, an increase of 27% from 1993.
The MAC network, owned and operated by Electronic Payment Services Inc., Wilmington, Del., said ATM transactions had increased by 9% and POS transactions had increased by 93% between 1993 and 1994.
The NYCE network, owned and operated by Infinet Payment Services, Hackensack, N.J., reported ATM transaction growth of 16% and POS transaction growth of 67% from 1993 to 1994.
Combined ATM and POS transactions at Honor, the southeastern regional owned and operated by Maitland, Fla.-based Southeast Switch Inc., grew by 20% from 1993 to 1994. ATM transactions grew by 21%, and POS transactions grew by 78%.
Internet Inc., the Reston, Va.-based owner and operator of the Most network, said 1994 transaction topped 1993 by 21%. ATM transaction growth was 13%, and POS transaction growth was 110%.
The Pulse EFT Association, Houston, processed more than 135 million transactions during 1994, up 20% from the previous year.
The Houston-based network's POS service, Pulse Pay, grew to more than 20 million transactions in 1994, an increase of more than 48%.