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NYCE anounces ATM-to-ATM P2P
By Jim Bruene on September 14, 2002 1:57 PM | 0 Comments
NYCE
|
Scorecard |
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Founded |
1985 (majority owned by First Data) |
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Management |
Dennis Lynch, CEO |
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Employees |
450 |
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FI Clients |
2,200 with 52 million cardholders* |
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ATMs |
82,000* |
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Transaction Volume |
100 million per month* |
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EPP Products |
P2P |
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Address |
300 Tice Boulevard Woodcliff Lake, NJ 07677-8440 |
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Phone |
(201) 930-9400 (sales) |
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Web |
nyce.net |
*as of 4/30/02
New Jersey-based NYCE announced its ATM-to-ATM P2P system more than a year ago. Prior to its scheduled mid-2001 launch, First Data acquired a controlling interest (64%) in the company and the project was delayed. It's now back on track and moving rapidly towards implementation.
The P2P infrastructure went live in May (2002) and NYCE’s 2,200 financial institution members are in various stages of implementing the capabilities. The company expects a dozen banks to be able to at least receive interbank payment by year-end 2002. Like Star System, to make the product viable all members will be required to accept interbank transfers by year-end 2003.
