Bank One has introduced a store-of-value payroll card for middle-market companies that offers direct integration with Microsoft Business Solutions ERP systems.
The Bank One Direct PayChek Card aligned with Microsoft's business package software enables companies to reduce the reconciliation costs of paper-based payroll cheques, improve efficiencies with electronic funds transfer and eliminate the need for special payment arrangements. Employees, including those without a bank account, receive their payments on a Visa-branded store-of-value card.
The card is available immediately in the United States through Microsoft Business Solutions reselling partners for $2000.
John Hendrickson, owner and president of Business Microvar, a Microsoft Business Solutions partner, says: "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."
In December last year, Bank One and Microsoft entered a $30 million partnership to jointly promote and develop services and products for the two companies' US customers, focusing on consumers and small and mid-size businesses.
Seperately, Bank of America has inked an agreement to advertise its services to the three million users of the MSN network. The value of the agreement has not been disclosed.