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SCOTTSDALE, Ariz.- U.S. Central has signed a six-year contract with eFunds for its Automated Clearing House Processing system. The deal is big for eFunds given U.S. Central’s payment processing role in the credit union industry and its expanding ACH business. It processed nearly 90 million transactions for some 2,000 credit unions last year. Terms of the deal were not disclosed, but the companies did note that they started working on this last month and they expect the first transaction to go live towards the end of this year. U.S. Central said the reasons it selected eFunds is its ACH experience, the scalability of ACHPS, and with eFunds’ backoffice role it will not have to add to its infrastructure even if its ACH business continues to grow. -

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