In 1986, the late Gregorio C. Sanchez decided to create a company that would curb the financial loss merchants were experiencing with NSF checks while protecting consumers from identity theft. Along with his partners, he formed Marianas Credit Bureau Inc., a household name on Guam commonly known today as MCB. Consumers were issued a MCB Check Guarantee card that incorporated a photo ID and magnetic stripe encoded with a unique number that allowed merchants to electronically verify MCB members check writings privileges. Checks verified by MCB that returned as NSF were covered for the full face value of the check to the merchant.
The MCB check guarantee card was then adapted to allow its members to charge at all gas stations on Guam in 1990. Knowing MCB capabilities, the then Exxon Corporation and Gas Express Corporation, acquired MCB’s online processing capabilities for their corporate accounts. The remaining petroleum corporations and many card issuers sought MCB’s services in the years following.
In 1995 Greg Sanchez saw a need to route ATM and POS transactions on Guam through a shared local network saving financial institutions thousands of dollars a year in operating costs. His dream became a reality in 1996 with the formation of Mari-Net.
Over the years, MCB has acquired many unique talents and services providing several companies on Guam and in the Western Pacific with state of the art electronic processing.