FARGO, N.D., and CHICAGO, Oct. 15, 2002 — Microsoft®
Business Solutions and Bank One Corp. today introduced the Bank One Direct PayChek Card (TM) — an integrated payroll system that enables business owners to manage payroll functions entirely within Microsoft Business Solutions’ enterprise resource management solutions.
The Bank One Direct PayChek Card is the only card solution fully integrated with Microsoft Business Solutions — Great Plains and Microsoft Business Solutions — Solomon®
. By using those business applications and the Bank One Direct PayChek Card, businesses can improve the efficiency of their electronic payment systems. The solution enables businesses to reduce the reconciliation costs of paper-based payroll checks, improve efficiencies with electronic funds transfer, and eliminate the need for special payment arrangements. The automated nature of the system allows administrative staff to focus more time on core business needs. Employees, including those without a bank account, can enjoy the flexibility and functionality of a Visa-branded stored-value card.
Complete, Integrated Solution
The Bank One Direct PayChek Card employs the same user-friendly interface native to Microsoft Business Solutions applications. No manual data manipulation is required, and new employees may be enrolled in the system with the click of a mouse.
Security features help keep data secure. The system’s integration with Automated Clearing House (ACH) functionality makes it easy to deposit funds.
Funds are loaded onto a Visa stored-value card that employees may use for purchases or obtaining cash. In addition to the convenience features commonly associated with stored-value cards, employees save the fees spent on cashing paper checks and money orders. Unlike paper checks, if the card is lost or stolen, security enhancements help keep funds secure because a personal identification number is required to use the card.
The Bank One Direct PayChek Card is available immediately in the United States through Microsoft Business Solutions authorized reselling partners for $2,000 (U.S.).
“Distributing the Bank One Direct PayChek Card offers the opportunity to add value and deepen many of our customer relationships,”
said John Hendrickson, owner and president of Business Microvar Inc., a Microsoft Business Solutions authorized partner.
“Many of our clients are familiar with similar solutions employed in the large corporate market, and they are eagerly anticipating the delivery of a direct paycheck card product within the middle market.”
About Bank One
Bank One Corp. (NYSE
) is the nation’s sixth largest bank holding company with assets of more than $270 billion. Bank One currently serves 53 million credit card customers, 7.1 million retail households, including 488,000 small businesses, and 20,000 middle market companies. It also manages $146 billion of clients’ investment assets. Bank One can be found on the Internet at http://www.bankone.com/ .
Visa is the world’s leading payment brand and largest consumer payment system, enabling banks to provide their consumer and merchant customers with a wide variety of payment alternatives. More than 14,000 U.S. financial institutions rely on Visa’s processing system, VisaNet, to facilitate over $915 billion in annual transaction volume — including roughly half of all Internet payments — with virtually 100 percent reliability. U.S. consumers carry 376 million Visa-branded smart, credit, commercial, prepaid and check cards, accepted at approximately 24 million locations worldwide. Visa’s people, partnerships, brand, payment technology and security standards are helping to create universal commerce — the ability to safely conduct transactions anytime, anywhere, any way. For more information about Visa, please visit http://www.visa.com/ .
About Microsoft Business Solutions
Microsoft Business Solutions, which includes the businesses of Great Plains Software Inc., Microsoft bCentral®
and Navision a/s, offers a wide range of business applications designed to help small, midmarket and corporate businesses become more connected with customers, employees, partners and suppliers. Microsoft Business Solutions’ applications automate end-to-end business processes across financials, distribution, project accounting, electronic commerce, human resources and payroll, manufacturing, supply chain management, business intelligence, sales and marketing management, and customer service and support. More information about Microsoft Business Solutions can be found at http://www.microsoft.com/businesssolutions/ .
Founded in 1975, Microsoft (Nasdaq
) is the worldwide leader in software, services and Internet technologies for personal and business computing. The company offers a wide range of products and services designed to empower people through great software — any time, any place and on any device.
Microsoft, Solomon, Great Plains and bCentral are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries.
Great Plains Software Inc. is a wholly owned subsidiary of Microsoft Corp.
Bank One Direct PayChek Card is a trademark of Bank One Corp.
Navision a/s is a subsidiary of Microsoft Corp.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
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