Nexus Payment Systems International Ltd, a founder member of the Link national cash network in the UK, is to implement a national shared network of automated teller machines in Ireland. The four participants are Ireland’s major building societies – Irish Permanent, Educational, First International, and Irish Nationwide. Nexus will be responsible for around-the-clock service 365 days a year, for management and maintenance of the telecommunications network, and for the reconciliation of inter-society settlements. Nexus has established a Dublin-based centre to develop and operate the network, which is expected to go live by the end of this year. CARA, the Irish telephone operator, will provide telecommunications facilities. There are currently 500 automated teller machines in Ireland, and the 700,000 card base generates around 15m transactions per year. The Irish system will use the same technology as Link, based on magnetic stripe cards and personal identification numbers that never appear in clear on the telephone network or computer. Nexus was formerly the operating arm of Funds Transfer Sharing Ltd, a banking consortium established in 1985, and it set up as a separate company in 1989, and is now the sole licensed service provider to Link.
