Money Network - Payroll Distribution Services This document contains unpublished, confidential and proprietary information of First Data Corporation. You may not disclose, copy or use any part of these materials for any purpose without the express written consent of First Data Corporation. Presented to:
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Money Network -
Payroll Distribution Services
This document contains unpublished, confidential and proprietary information of First Data Corporation. You may not disclose,
copy or use any part of these materials for any purpose without the express written consent of First Data Corporation.
Presented to:
2
Agenda
• Bank of America Merchant Services Overview
• Money Network Overview
• Employer and Employee Benefits
• The Payroll Distribution Services – Pay Card and Money Network Check
• Compliance
• Employee Access to Funds
• Enrollment and Funding Options
• Paystub Portal
• Q & A
3
Industry-leading
Products
380,000*
Merchant
Relationships
Expansive
Geographic
Footprint
12.9 Billion*
Transactions
Annually
World-class
Technology
Solutions
A Powerful Partnership
* Data projected based on prior transaction processing history of each entity.
Geographic Footprint - 6,000+
Banking Centers
Brand Strength
Client Relationships
Best-in-Class Sales & Customer Support
Broad and Most Innovative
Product Portfolio
Leading Technology Platforms
Client Relationships
Best-in-Class Sales & Customer Support
4
• Reduces payroll expenses
• Allows you to achieve 100% electronic pay
• Improves payroll security and control
Bank of America Merchant Services’ Prepaid Market Suite
Directed
Gift Giving
Consumer Need
Open Loop
Gift Cards
Closed Loop
Gift Cards
Multi-Purse
Gift Cards
Paycards & Money
Network™ ChecksGeneral Purpose
Reloadable Cards
Flexible
Gift Giving
Spending &
ConvenienceRewards
Payroll Direct
Deposit
Bank Account
Alternatives
Spending
CardsLoyalty
Cards
5
Large “Underbanked” Market Looking
for Alternatives
•CFSI – Underbanked Consumer Study 2008
** Mercator Advisory Group, Inc. 2008
51.5M – 24%
54.9M – 25%
Underbanked Percentage of U.S. Adult Population*
(Numbers in Billions)
The use of Payroll Cards is expanding as companies look to migrate to
paperless pay in order to save costs associated with issuing paper checks
6
Money NetworkTM History
Money Network™ became
the payroll distribution
services arm of
Concord EFS
2001
Concord EFS first to
market with payroll
distribution services
for the transportation
industry
1994
Wal-Mart signed
agreement to cash
Money Network
Checks free of
charge
2005 2006 2009
First Data acquired
majority ownership of
Money Network™
2002
100 Money
Network™ service
employer clients
2004
500,000
Money Network
Cards issued
Reached $1billion
in payroll Deposits
More than ten years of electronic payroll expertise.
2008 2010
Nearly 1 Million
active cards
First Data and Bank of
America form JV Bank of
American Merchant Services
Free Money Network™
Check cashing extended with
agreement with
Rapid Cash® & Speedy
Cash ®
First Data acquired
full ownership of
Money Network™
7
Meets Business
Objectives
• Pay to the penny solution with Money NetworkTM Checks