Diebold, Incorporated announces the acquisition of Pioneer Systems, Inc., a company specializing in the development and operation of campus ID card-related interfaces to financial institutions. Pioneer Systems developed and operates the first “Open Banking” system that allows students, faculty and staff to link to an existing account at a participating financial institution to their university identification card. Implemented in August 1998 at Penn State University, the system currently offers services to more than 100,000 cardholders on 23 campuses.
“Our multi-bank 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.”
Pioneer Systems, which utilizes a magnetic stripe card with an embedded computer chip combined with Diebold’s iq(R) Transaction Processing Software(TM) (iqTPS) System, offers the ability to link to multiple financial institutions, off-campus merchants and the on-campus system. The iqTPS system provides the network functionality that processes the transactions for ATMs and point-of-sale terminals on campus. This system gives financial institutions the necessary link to the network and also gives retailers the capability to take debit payments from a student’s regular bank account using only the student’s campus ID card.
“Diebold’s Card System customers will be able to take full advantage of this unique multi-bank system approach, while reaping the benefits of Diebold’s entire suite of CS Gold applications and products,” said Bartholomew J. Frazzitta, vice president, physical security and card systems for Diebold. “Pioneer will continue to make its system available to all universities and campuses, irrespective of the applications and card products deployed.” Diebold, Incorporated is the global leader in providing integrated delivery systems and services. Founded in 1859, the company employs more than 7,000 employees in more than 135 locations worldwide with headquarters in Canton, Ohio, USA. Diebold reported revenue of US$1.2 billion in 1998 and is publicly traded on the New York Stock Exchange under the symbol ‘DBD.’ For more information, visit the company’s Web site at [http://www.diebold.com].