Magazine article American Banker

Plus System to Begin Accepting Cirrus Cards

Magazine article American Banker

Plus System to Begin Accepting Cirrus Cards

Article excerpt

NEW YORK -- The movement toward a universal, retail electronic funds transfer network continues to move ahead with the announcement by the Plus System Inc. that its members can open their automated teller machines to cardholders from the rival network Cirrus System Inc.

"It's a very significant step because it's the first step toward sharing of other terminals such as point of sale," said D. Dale Browning, president of Denver-based Plus.

Separately, an American Bankers Association task force is meeting this week to examine a universal debit mark for plastic cards.

Cirrus and Plus, the two leading national ATM networks, have been fierce competitors over the last year or two in developing their networks.

Under the new rules of Plus, Cirrus and Plus members can form their own agreements to share teller machines, Mr. Browning said.

"I think it's going to occur in a lot of [local] markets," he said.

Cirrus has always permitted its members to accept any cards at their teller machines, said G. Henry Mundt, sales manager at Cirrus, based in Oak Brook, Ill.

Cirrus now includes about 6,900 teller machines and 28 million cardholders.

Plus has some 4,500 ATMs and 25.6 million cardholder accounts. Plus figures there are about 1.3 cards per account, which would give the network 33.3 million cards.

Cirrus and Plus have both outdistanced other national networks such as Nationet Inc. and those formed by Visa, MasterCard International Inc. …

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