Alliance with MoneyPass(R)Delivers PULSE SelectSM ParticipantsNetwork of More Than 16,000 Surcharge-Free ATMs Coast to Coast
HOUSTON--(BUSINESS WIRE)--May. 7, 2009--
PULSE, one of the nation’s leading ATM/debit networks, today launched
PULSE Select, a surcharge-free ATM network alliance with the MoneyPass
Network. The PULSE Select/MoneyPass Surcharge-free ATM Network provides
financial institution participants with access to more than 16,000
surcharge-free ATMs across the country.
“In today’s economic environment, consumers are looking for ways to cut
costs, while maintaining convenient access to their money,” said Judith
McGuire, PULSE senior vice president, product management. “In response,
the PULSE Select/MoneyPass network provides financial institutions with
an economical solution, while driving customer loyalty and creating a
competitive advantage to help participants attract new cardholders.”
The PULSE Select/MoneyPass network enables PULSE participants to provide
their cardholders with increased access to surcharge-free ATMs at banks,
credit unions, grocery stores, convenience stores, restaurants and other
convenient locations in all 50 states.
Debit cardholders who use an ATM not owned or operated by their
financial institution typically are charged a surcharge fee ranging from
$1.50 to $3.00 per transaction. Financial institutions participating in
the PULSE Select/MoneyPass network not only provide a desired service to
cardholders, but also may be able to reduce expenses associated with
providing rebates of surcharge fees.
“This is an excellent opportunity for MoneyPass to come together with
one of the country’s leading ATM/debit networks,” said Douglas Miraglia,
president of MoneyPass, which serves more than 1,000 financial
institutions and 30 million cardholders. “This strategic alliance with
PULSE enables MoneyPass to continue to expand our network across the
country, providing convenient ATM access to cardholders everywhere.”
Financial institutions participating in the PULSE Select Program will
add their ATMs to the MoneyPass Network.
“The PULSE Select/MoneyPass network will allow PULSE financial
institution participants to remain competitive without the cost of
adding new ATM locations, and will help retain and attract new
cardholders by providing additional convenience where they live, work
and travel,” McGuire added.
About PULSE
PULSE is one of the nation’s leading ATM/debit networks, currently
serving more than 4,500 banks, credit unions and savings institutions
across the country. PULSE is owned by Discover Financial Services (NYSE:
DFS). The network links cardholders with more than 289,000 ATMs, as well
as POS terminals at retail locations nationwide. The company is also a
valued resource for industry research related to electronic payments and
is committed to providing its participants with education on evolving
products, services and trends in the payments industry. For more
information, visit www.pulsenetwork.com.
About MoneyPass
MoneyPass is a network of Elan Financial Services, one of the nation’s
leading providers of comprehensive ATM and debit card processing
solutions for financial institutions, Independent Sales Organizations
and retailers. Elan Financial Services processes transactions for more
than 2,000 financial institutions nationwide and manages over 38,000
ATMs for a variety of industries. MoneyPass provides surcharge free
access at more than 16,000 ATMs across the United States, allowing
cardholders of participating financial institutions to access their
money where they live, work and travel. With over 1,000 participating
financial institutions, 21 participating Independent Service
Organizations (ISOs) and over 30 million active cards, MoneyPass is a
rapidly growing surcharge-free network whose emphasis is on
cost-efficient membership options, flexible terms and accessible
locations. For more information, call 1-800- 343-7064 or visit www.moneypass.com.
Source: PULSE
PULSE
Anne Rhodes, 832-214-0234
arhodes@pulsenetwork.com