PULSE, TYME team up

HOUSTON – There is a new team forming in the Electronic Funds Transfer network game. PULSE EFT Association and Brown Deer, Wis.-based TYME Corporation have signed a letter of intent to merge. The combined network will create an EFT system that will serve more than 3,300 financial institutions and includes approximately 81,000 ATMs and 457,000 POS locations. “This is a logical combination of two financial industry-controlled associations that embrace similar philosophies regarding quality, governance and strategic objectives,” PULSE President and Chief Executive Officer Stan Paur said. “The consolidated organization will leverage our complementary resources not only to deliver EFT services but also to commit resources to value added services such as research, educational programs and lobbying support.” The TYME deal marks the second PULSE expansion in the past six months. It acquired the Ohio-based Money Station network on Jan. 31. The companies expect to complete the merger by the end of 2001.