Electronic Payment Services, Inc. (EPS) announced the promotion of Ruth Ann Marshall, previously president of BUYPASS Corporation, the point-of-sale (POS) subsidiary of EPS, to the newly created position of executive vice president and group executive of EPS. Marshall will have responsibility for all BUYPASS, MAC(R) network and EPS processing client relationships, including customer service and product management functions. The MAC(R) network is the largest electronic funds transfer (EFT) network in the nation based on switch transactions.
“Ruth Ann Marshall possesses in-depth experience in strategic business planning and management, as well as broad experience in the customer service and client satisfaction areas,” said Richard Garman, president and chief executive officer, EPS. “We’re very pleased with her accomplishments at BUYPASS, where she achieved unprecedented levels of client satisfaction and revenue growth. Ruth Ann’s leadership and business acumen have enabled her to develop strong client relationships, and her market-centric approach will help us to deliver superior products and services,” said Garman.
Other EPS/MONEY ACCESS SERVICE INC. (MAS) Third Quarter Highlights
— Total EPS switch transaction volume was 591 million, up 27% over third quarter 1996.
— 48 new financial institutions joined the MAC network across 14 states and EPS business development signed up 21 new merchants and independent sales organizations across 14 states for participation in MAC network during the third quarter.
— The MAC network consistently hit over 105 million transactions for each month during the third quarter and achieved a record high of 111.6 million transactions in August.
— MAS total switch volume was 326 million in the third quarter 1997, consisting of 297 million ATM transactions and 29.5 million debit POS transactions.
— 95 financial institutions signed off-line debit card processing contracts in the third quarter, bringing the total to 285 institutions year-to-date.
— A record number of 2,821 ATMs were installed during the third quarter. Total number of ATMs currently driven by EPS is 18,435.
— There are currently 27,860 ATMs and 36.5 million cards bearing the MAC logo.
Electronic Payment Services, Inc. (EPS), a privately held company headquartered in Wilmington, Delaware, is a leading electronic funds transfer (EFT) processor in the United States, with over 2 billion transactions annually. EPS is the holding company for BUYPASS Corporation and MONEY ACCESS SERVICE INC.
BUYPASS Corporation, headquartered in Atlanta, Georgia, is a major third- party POS processor and debit transaction acquirer with annual transaction volume of over 900 million. BUYPASS provides processing for 50 of the top 200 grocery store chains in the United States. One out of every ten debit POS transactions performed in the United States is processed by BUYPASS. BUYPASS also has electronic benefits transfer (EBT) programs in 24 states and provides gateway access to over 46 credit, debit and EBT gateways.
MONEY ACCESS SERVICE INC., headquartered in Wilmington, Delaware, is the leading EFT processor to the financial services industry, driving 18,500 ATMs in all 50 states. The MAC network is the largest EFT network in the United States based on over 1 billion switch transactions annually, with 28,000 ATMs and 400,100 POS terminals nationally. Over 2,100 financial institutions are members of the MAC network, with 36.5 million customers carrying cards bearing the MAC logo. MONEY ACCESS SERVICE INC. controls the license rights for the registered trademark MAC.Details