The PULSE EFT Association, Houston, has announced fee reductions for 1997, an intent to rebate $2.5 million in 1996 switch fees and other changes to its fee structure.
Effective Jan. 1, the automated teller machine switch fee for PULSE transactions was reduced from five cents to 4.5 cents. Also, the point-of-sale switch fee for issuers for the network's PULSE PAY service will be reduced from two cents to one cent. Concurrently, the authorization fee paid to issuers for these transactions will be increased from the current five cents to eight cents.
PULSE member institutions will receive a rebate of $2.5 million in PULSE switch fees paid in 1996. Rebate checks will be sent …
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