Pulse is an interbank

electronic funds transfer Electronic funds transfer (EFT) is the electronic transfer of money from one bank account to another, either within a single financial institution or across multiple institutions, via computer-based systems, without the direct intervention of b ...

(EFT) network in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

. It serves more than 4,400 U.S. financial institutions and includes more than 380,000 ATMs, as well as POS terminals nationwide. Rivals of the network include

First Data First Data Corporation is a financial services company headquartered in Atlanta, Georgia, United States. The company's STAR Network provided nationwide domestic debit acceptance at more than 2 million retail POS, ATM, and Online outlets for nea ...

STAR A star is an astronomical object comprising a luminous spheroid of plasma (physics), plasma held together by its gravity. The List of nearest stars and brown dwarfs, nearest star to Earth is the Sun. Many other stars are visible to the naked ...

and Fidelity National Information Services's

NYCE The New York Currency Exchange (NYCE) is an interbank network connecting the ATMs of various financial institutions in the United States and Canada. NYCE also serves as an EFTPOS network for NYCE-linked ATM cards. NYCE is based in Secaucus, N ...

. It is owned by

Discover Financial Discover Financial Services is an American financial services company that owns and operates Discover Bank, which offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. It also owns and operates ...

, issuer of the

Discover Card Discover is a credit card brand issued primarily in the United States. It was introduced by Sears in 1985. When launched, Discover did not charge an annual fee and offered a higher-than-normal credit limit, features that were disruptive to the ...

, and is included in Discover's agreement with

China UnionPay UnionPay (), also known as China UnionPay () or by its abbreviation, CUP or UPI internationally, is a Chinese state-owned financial services corporation headquartered in Shanghai, China. It provides bank card services and a major card sch ...

; cards can be used on each other's network leading to better acceptance outside large cities than the larger networks.

History

The Pulse system was based on software that operated the Take Your Money Everywhere (TYME) network operating in the central United States. The network was established as the banking rules that limited banks and branches ability to share services were removed. The data processing facilities were originally provided by First City Bank and later transitioned to Texas Commerce Bank. In 1981, Pulse incorporated and began operating its regional EFT switching facility. In 1995, it launched Pulse Pay, a point-of-sale service where cardholders can use their ATM card at retailers. Pulse announced acquisition of Gulfnet, the

Louisiana Louisiana , group=pronunciation (French: ''La Louisiane'') is a state in the Deep South and South Central regions of the United States. It is the 20th-smallest by area and the 25th most populous of the 50 U.S. states. Louisiana is borde ...

-based regional EFT network in 1997 and announced acquisition the Cincinnati-based MoneyStation network in 2000. Pulse merged with

Wisconsin Wisconsin () is a state in the upper Midwestern United States. Wisconsin is the 25th-largest state by total area and the 20th-most populous. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake M ...

-based

Tyme TYME ("Take Your Money Everywhere") is an ATM/interbank network in Florida, Wisconsin, and the Upper Peninsula of Michigan. It was one of the first shared EFT networks in the country. Residents commonly referred to ATMs as a "TYME machine", wh ...

Corporation in 2002, and was acquired by the

Discover Financial Services Discover Financial Services is an American financial services company that owns and operates Discover Bank, which offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. It also owns and operate ...

in 2005. Currently, Pulse is a California residential mortgage licensee (License Number MLS-18827).

References

External links

Official website
Financial services companies established in 1981 Banking terms Interbank networks Financial services companies of the United States Discover Financial {{bank-stub

History

See also

References

External links