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As a subsidiary of Visa Inc., it connects all Visa credit, debit and prepaid cards, as well as ATM cards issued by various banks worldwide bearing the Visa / Electron logo. Plus System, Inc. started out as a consortium formed by 34 major U.S. banks to build a national network of automated teller machines (ATM).
The company was established in 1989 by Dr. Aravinda Korala; [4] hence Korala Associates Limited. KAL is headquartered in Edinburgh, Scotland.KAL also has office locations elsewhere in the UK, plus in the US, Europe, India, China, Japan, Malaysia and Australia.
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. The network was one of the first in the nation, and helped universalize ATM banking.
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In addition to point of sale debit payments, the card also allows the holder to withdraw cash from automated teller machines (ATMs) using the Plus interbank network. Issuance of Visa Electron cards declined in the 2010s, with many banks replacing them with Visa Debit cards. [3] [4] [5] Visa discontinued the product globally in 2024. [6]
The facility is only available for cards branded with the MasterCard PayPass or Visa payWave logos, indicating that they have the system-permitted embedded chip. ANZ launched an ATM solution based on Visa payWave in 2015, where the customer taps the card on a reader installed at the ATM and inserts their PIN to finalise cash withdrawals.
The first logo, advertised from 1982 until 1992, was then changed to match those representing the other subsidiaries of Mastercard, which acquired Cirrus in 1987. The only exception is the colour pattern change. This can also be noticed through the re-branding in 2016, since all the logos of Mastercard, Maestro and Cirrus have been equally ...
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