Magazine article American Banker

MAC Network Expanding in Michigan; Signs 8 Banks with 850 ATMs

Magazine article American Banker

MAC Network Expanding in Michigan; Signs 8 Banks with 850 ATMs

Article excerpt

Money Access Service Inc., operator of the MAC electronic funds transfer network, is bolstering its presence in Michigan.

Since December the subsidiary of Electronic Payment Services Inc. has signed eight banks with 850 automated teller machines in the Great Lakes State.

The most recent deal, last month, was with Old Kent Bank and Trust Co., a $14.2 billion institution based in Grand Rapids, with 370 ATMs and 320,000 cardholders.

In the "southern tier of Michigan, we have a very competitive market presence," said Steven E. Dawe, senior vice president of sales at Electronic Payment Services, Wilmington, Del.

MAC's advances put some pressure on the dominant network in Michigan, Magic Line Inc. of Dearborn. Though Magic Line has far more ATMs in the state - 6,300 - MAC overall is about twice as large as Magic Line, which had been the primary network used by Old Kent.

Peter Finch, vice president of alternate delivery banking at Old Kent, said becoming a MAC member gives its cardholders membership in a larger network, and gives the bank the option of deploying ATMs off-premises in other states.

"We like the direction in which they are headed," Mr. Finch said of MAC. The network is "in a lot of states."

Though Old Kent's machines will still display the Magic Line logo, the bank will route transactions through MAC when it can.

Mr. Finch said the bank is taking advantage of MAC's lower pricing for gateway services - the links to other networks for traveling cardholders - and the processing might of Electronic Payment Services Inc., which drives 25,000 ATMs nationwide.

Recent bank mergers have raised MAC's Michigan profile. Two of the network owners - Banc One Corp. of Columbus, Ohio, and National City Corp. of Cleveland - have made recent moves into Michigan. National City purchased Kalamazoo-based First of America Bank Corp. in March, and Banc One is scheduled to merge with First Chicago NBD Corp. …

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