Money Access Center (MAC, also Money Access Card) was an ATM network in the Mid-Atlantic and Midwestern United States, between 1979 and 2005, when it was absorbed into the

STAR network A star network is an implementation of a spoke–hub distribution paradigm in computer networks. In a star network, every host is connected to a central hub. In its simplest form, one central hub acts as a conduit to transmit messages. The ...

. The network was one of the first in the nation, and helped universalize ATM banking. At its height MAC operated 59,000 ATMs in

Pennsylvania Pennsylvania, officially the Commonwealth of Pennsylvania, is a U.S. state, state spanning the Mid-Atlantic (United States), Mid-Atlantic, Northeastern United States, Northeastern, Appalachian, and Great Lakes region, Great Lakes regions o ...

New Jersey New Jersey is a U.S. state, state located in both the Mid-Atlantic States, Mid-Atlantic and Northeastern United States, Northeastern regions of the United States. Located at the geographic hub of the urban area, heavily urbanized Northeas ...

Delaware Delaware ( ) is a U.S. state, state in the Mid-Atlantic (United States), Mid-Atlantic and South Atlantic states, South Atlantic regions of the United States. It borders Maryland to its south and west, Pennsylvania to its north, New Jersey ...

Maryland Maryland ( ) is a U.S. state, state in the Mid-Atlantic (United States), Mid-Atlantic region of the United States. It borders the states of Virginia to its south, West Virginia to its west, Pennsylvania to its north, and Delaware to its east ...

West Virginia West Virginia is a mountainous U.S. state, state in the Southern United States, Southern and Mid-Atlantic (United States), Mid-Atlantic regions of the United States.The United States Census Bureau, Census Bureau and the Association of American ...

Kentucky Kentucky (, ), officially the Commonwealth of Kentucky, is a landlocked U.S. state, state in the Southeastern United States, Southeastern region of the United States. It borders Illinois, Indiana, and Ohio to the north, West Virginia to the ...

Ohio Ohio ( ) is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders Lake Erie to the north, Pennsylvania to the east, West Virginia to the southeast, Kentucky to the southwest, Indiana to the ...

, and

Michigan Michigan ( ) is a peninsular U.S. state, state in the Great Lakes region, Great Lakes region of the Upper Midwest, Upper Midwestern United States. It shares water and land boundaries with Minnesota to the northwest, Wisconsin to the west, ...

History

Creation

MAC was launched in 1979 by the Philadelphia National Bank (PNB), later renamed

CoreStates CoreStates Financial Corporation, previously known as Philadelphia National Bank (PNB), was an American bank holding company in the Philadelphia, Pennsylvania, metropolitan area. The bank was renamed in the mid-1980s after a series of mergers. A ...

, to compete with the GEORGE network, which was launched one year earlier by Girard Bank. PNB was able to line up support from thirteen other financial institutions at launch, capturing significantly more market share than GEORGE, to the point that the locals preferred the terms "MAC machine" and "MAC card" to "ATM" or "ATM card".

Growth and Independence

In 1988 CoreStates acquired and integrated MAC competitor CashStream, making MAC the second-largest regional ATM network, behind only

NYCE The New York Currency Exchange (NYCE) is an interbank network connecting the Automatic teller machine, ATMs of various financial institutions in the United States and Canada. NYCE also serves as an EFTPOS network for NYCE-linked ATM cards. NYCE ...

. In 1992 CoreStates created a

holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

for MAC, called Electronic Payment Services (EPS), headquartered in

Wilmington, Delaware Wilmington is the List of municipalities in Delaware, most populous city in the U.S. state of Delaware. The city was built on the site of Fort Christina, the first Swedish colonization of the Americas, Swedish settlement in North America. It lie ...

. The company was co-owned by CoreStates,

Bank One Bank One Corporation was an American bank founded in 1968 and at its peak the sixth-largest bank in the United States. It traded on the New York Stock Exchange under the stock symbol ONE. The company merged with JPMorgan Chase & Co. on July 1, ...

PNC Bank The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 U.S. state, states and the District of Columbia, ...

, and

Society Corporation KeyBank is an American regional bank headquartered in Cleveland, Ohio, and the 27th largest bank in the United States. Organized under the publicly traded KeyCorp, KeyBank was formed from the 1994 merger of the Cleveland-based Society Corpora ...

. These were later joined by

KeyCorp KeyBank is an American regional bank headquartered in Cleveland, Ohio, and the 27th largest bank in the United States. Organized under the publicly traded KeyCorp, KeyBank was formed from the 1994 merger of the Cleveland-based Society Corpora ...

and

National City Corp. National City Corporation was a regional bank holding company based in Cleveland, Ohio, founded in 1845; it was once one of the ten largest banks in America in terms of deposits, mortgages and home equity lines of credit. Subsidiary National Ci ...

Acquisition and Merger with STAR

Through the 1990s EPS expressed its desire to go public, either by issuing an

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

or by being acquired by a

publicly traded company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( ...

. The latter happened in 1999 when publicly-traded Concord EFS acquired EPS for $920 Million. This turned out to be a very profitable deal for Concord, so it acquired two more ATM networks in the next two years, Cash Station and

STAR A star is a luminous spheroid of plasma (physics), plasma held together by Self-gravitation, self-gravity. The List of nearest stars and brown dwarfs, nearest star to Earth is the Sun. Many other stars are visible to the naked eye at night sk ...

, which expanded Concord's networks to 28 states. In its press-release about the acquisition of STAR in 2001 Concord announced its intent to consolidate the three networks under the STAR banner due to STAR's better name recognition, making STAR the largest ATM network in the country. The MAC (and Cash Station) banner was to be phased out over a period of four years

Revival of the Name

In 2014, JetPay, founded by Bipin Shah, who ran the MAC network while working at CoreStates, announced a product called Money Access Card, a reloadable payment card for JetPay's payroll-processing-company clients. This product was discontinued when JetPay was acquired by

NCR Corporation NCR Voyix Corporation, previously known as NCR Corporation and National Cash Register, is a global software, consulting and technology company providing several professional services and Electronics, electronic products. It manufactured Self-c ...

in 2018.

Legacy

MAC Machine and MAC Card continue to be used to refer to ATMs and ATM cards respectively as a regionalism in certain parts of Pennsylvania and New Jersey, along with the phrase tap MAC to describe getting money from an ATM.

References

{{Interbank networks Interbank networks 1979 establishments in the United States 2005 disestablishments in the United States