HONOR Technologies, Inc., and STAR System Inc., have completed their merger which resulted in the nation's largest electronic funds transfer (EFT) network, H&S Holding Company. HONOR and STAR will operate as wholly owned subsidiaries of the company, which will be owned by the financial institutions that owned the former HONOR and STAR organizations.
The new company will serve more than 3,700 financial institution members and their 79 million ATM/debit cardholders via 70,000 ATMs and 400,000 POS locations, processing an average of 185 million transactions per month. In addition to network services, the company will offer financial institutions offline debit processing, card production, ATM services and gateway access to home banking and national network services.
But, you will still see the STAR and HONOR signs around for a while. According to Ronald V. Congemi, H&S president and CEO, no immediate changes in operations, processing, or branding and signage will occur. "We will address these issues as we develop operational plans through 1999 to integrate the new company," said Congemi.
For more information visit Web sites www.HONOR.com and www.star-system.com
