Compelo Banking - Latest industry news and analysis is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More

Open Solutions Canada Signs Agreement With Acxsys

Open Solutions Canada, the Canadian subsidiary of Open Solutions, has signed an agreement with Acxsys Corporation, to provide automatic banking machine (ABM) transaction processing services to Diners Club International, Discover and Pulse cardholders in Canada.

The agreement will enable Diners Club, Discover and Pulse cardholders to withdraw money from ABMs on the Interac network while in Canada.

Through this agreement, Open Solutions Canada, the acquirer, will operate ABMs, accept the designated cards, and process the transactions on its POSHnet network through the Interac network.

POSHnet is a Canada-based white label ABM and POS payments switches and processing centres, which provides service to more than 35,000 white label ABM and debit/credit and value-added payment terminals in merchant locations across Canada.

Pulse is a US-based ATM/debit network. Pulse processes ABM transactions for Diners Club, Discover and Pulse cardholders traveling in Canada. Diners Club cards received Canadian ABM acceptance in July and ABM acceptance for Discover and PULSE cards on the Interac network began in October.

Acxsys is a Canadian company based in Toronto, involved in banking. It was founded in 1996 by BMO Bank of Montreal, CIBC, RBC, Scotiabank, TD Canada Trust, National Bank of Canada, Desjardins Group and Credit Union Central of Canada.

Acxsys is specialized in the development and operation of new payment service opportunities as well as management services in the field of electronic payments. Its businesses include the operation of the Interac Email Money Transfer service, the Interac Online service, and Cross Border Debit. The latter is offered through a partnership with NYCE Corporation, a US-based debit network.