MasterCard has been selected to provide switching and settlement services to US electronic funds transfer network Pulse.
Under the agreement, MasterCard will provide Pulse with access to the MasterCard Debit Switch telecommunications and transaction processing network. Pulse will have its transactions processed separately at MasterCard.
Once Pulse completes the move to the new network in late 2003, the MasterCard Debit Switch is expected to process more than 2.2 billion transactions, annually.