Fiserv EFT, a unit of Fiserv, Inc. (Nasdaq:FISV), and the Armed Forces Financial Network (AFFN) have signed a contract extension for network switching services through December 2009.
Under the agreement, Fiserv EFT will continue to provide comprehensive automated teller machine (ATM) and point-of-sale (POS) gateway services for AFFN.
AFFN and Fiserv EFT have partnered since 1985 to provide all U.S. military personnel - active, reserve, dependents and retired - with ready access to their funds through ATM and POS terminals worldwide. Together, they have collaborated on a number of innovations designed to help AFFN extend its reach, including deploying satellite technology to enable account access on U.S. Navy ships. Fiserv also helped AFFN become the first network to switch POS transactions coast-to-coast in the U.S. with a generic ATM card, enabling AFFN to become the first network to transmit debit card POS transactions overseas in real time.