Delivery of Online Debit Authorization Processing and ATM Driving
Services
St. Petersburg, Fla., June 14, 2000
Equifax Card Solutions today announced that it has signed a multi-year
contract with M&I Data Services for ATM driving, routing, and
switching services. The agreement will enable Equifax Card Solutions
to offer the advantages of single-point authorizations for online
transaction processing for debit and ATM card processing. Card
transactions, whether initiated at a point of sale (POS) terminal
or automated teller machine (ATM), will be authorized based on
real-time account information, providing increased security and
faster, more accurate processing. This product offers special
advantages for off-line debit card issuers who have a regional
and/or national ATM service provider and for clients that are
seeking a quality ATM provider.
Vince Pavese, senior vice president and general manager, Equifax
Card Solutions, North America, said, "This partnership marks
an important step forward. Like other processors, Equifax has
traditionally processed off-line debit card transactions. We can
now combine our superior back-office servicing with state-of-the-art
POs, ATM, and off-line authorization processing. Financial institutions
can come to Equifax for all their card processing needs: merchant,
credit, debit, and ATM products. We are their total card solution."
Mr. Pavese added, "The simplified processing is easy to administer
and cost effective. Clients no longer need to send multiple cardholder
balance files to various processors for debit card and ATM authorizations.
All authorizations are routed through Equifax, and Equifax handles
all settlements, improving the authorization decision and simplifying
accounting duties. Equifax provides the means to improved authorization
processing so that issuers can concentrate on more important matters
for their cardholders."
"We are pleased to work with Equifax in providing online
transaction processing," said Joe Delgadillo, president and
CEO, M&I Data Services. "Real-time authorizations deliver
the kind of service that card issuers need to remain competitive
with the leaders in the card industry," Delgadillo added.
Headquartered in Milwaukee, Wisconsin, M&I Data Services is a
division of Marshall & Ilsley Corporation (NYSE: MI), a $24.4
billion holding company. M&I Data Services had total revenue of
$583 million in 1999 and provides leading-edge technology solutions
to the financial services industry, offering consulting, software,
and processing solutions for financial institutions worldwide.
The company's rapid growth is being fueled by innovative product
development, strategic product acquisitions, and strong growth
of its customer relationships.
The Electronic Funds Delivery (EFD) Services Division of M&I
Data Services provides transaction routing, switching, and authorizations
for the electronic funds transfer industry. It supports all makes
and models of ATMs and provides ATM and debit card processing.
EFD also performs gateway services and has network interfaces
to all of the major regional and national ATM and point-of-sale
(POs) networks. The EFD Services Division provides complete credit
card and merchant services, e-commerce, credit approval, portfolio
risk management, neural-network fraud detection, fraud investigation,
and comprehensive card personalization services. For more information,
visit the M&I Data Services Web site at www.midata.com.
Equifax Card Solutions is the nation's largest card processor
for credit unions and independent banks, bringing card processing
services and marketing solutions to more than 5,000 clients in
the United States. Equifax also delivers high quality card processing
services to clients internationally in the United Kingdom, Argentina,
Brazil, Chile, and India. Equifax card processing software is
used by financial institutions in 30 countries around the world.
Equifax, a worldwide leader in shaping global commerce, brings
buyers and sellers together through its information management,
transaction processing, direct marketing, and customer relationship
management businesses. Atlanta-based Equifax (NYSE: EFX) serves
the financial services, retail, credit card, telecommunications/utilities,
transportation, information technology and healthcare industries
and government. Equifax adds knowledge, expertise, convenience
and security to provide value-added solutions and processes for
its customers wherever they do business, including the Internet
and other networks. Equifax employs about 15,000 associates in
16 countries with sales in almost 50 and has $1.8 billion in revenue.
Statements in this press release that relate to Equifax's future
plans, objectives, expectations, performance, events and the like
are "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995 and the
Securities Exchange Act of 1934. Future events, risks and uncertainties,
individually or in the aggregate, could cause actual results to
differ materially from those expressed or implied in these statements.
Those factors could include changes in worldwide and U.S. economic
conditions that materially impact consumer spending and consumer
debt, changes in demand for the Company's products and services,
risks associated with the integration of acquisitions and other
investments, and other factors discussed in the "Forward-looking
Information" and "Year 2000 Information" sections
in the management's discussion and analysis included at Part II,
Item 7 in the Company's annual report on Form 10-K for the year
ended December 31, 1999.
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