Pulse (interbank network)

Pulse is an interbank electronic funds transfer (EFT) network in the United States. 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's STAR and Fidelity National Information Services's NYCE. It is owned by Discover Financial, issuer of the Discover Card, and is included in Discover's agreement with China UnionPay; cards can be used on each other's network leading to better acceptance outside large cities than the larger networks.

Pulse logo
Pulse
Industryfinancial services
electronic funds transfer
PredecessorGulfnet
MoneyStation
Founded1981
HeadquartersUnited States
Number of locations
4,400+ U.S. financial institutions
ProductsPulse Pay
ParentDiscover Financial Services

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.

  • 1981, Pulse incorporates and begins operating its regional EFT switching facility.
  • 1995, Pulse launches Pulse Pay, a point-of-sale service where cardholders can use their ATM card at retailers.
  • 1997, Pulse announced acquisition of Gulfnet, the Louisiana-based regional EFT network.
  • 2000, Pulse announced it would acquire the Cincinnati-based MoneyStation network.
  • 2002, Pulse merged with Wisconsin-based Tyme Corporation.
  • 2005, Pulse is acquired by the Discover Financial Services
  • Currently, Pulse is a California residential mortgage licensee (License Number MLS-18827).[1]

See also

References
  1. "Merger of Discover Financial Services and Pulse closes following Pulse members approval" (Press release). Discover Financial Services. January 12, 2005. Archived from the original on December 8, 2012. Retrieved October 22, 2007.


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