Money Network -
Payroll Distribution Services
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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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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
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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
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• 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
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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
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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™
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Meets Business
Objectives
• Pay to the penny solution with Money NetworkTM Checks
• Maximizes direct deposit participation
Impacts
Administrative
Functions
Positively
• Reduces payroll costs (i.e. printing, distribution, overhead. etc.)
• Streamlines administrative responsibilities
• Reduces administration for escheatment
• Dedicated training and implementation assistance
Provides
Reliability
• Ensures prompt disbursement and access for all employees
• Delivers uninterrupted pay in the event of a disaster
Mitigates Risk • Improves payroll security and control
• Reduced check fraud
Employer Benefits
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Fast • Paycheck goes straight to Money NetworkTM card
Easy • No waiting in line to cash checks
• Can buy virtually anything, anywhere
• Instant access to funds at ATMs
• 24/7 bi-lingual customer support
Now • Employees are automatically approved
• No credit or background checks
Safe • No need to carry large amounts of cash on payday
• Fraud protection is included
Employee Benefits
Free • Free check cashing at participating locations
• Free money transfers
• Surcharge-free ATMs
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What is the Money Network
Payroll Distribution Solution?
Employee choice:
Voluntary direct deposit to the financial institution
of employees choice
-or-
The Money Network™ Service
a) Voluntary Money Network™ Card*
b) The Money Network™ Check: A paper check for full
access to net pay without fees
- Employee generated as desired
- Enables compliance with state payroll check requirements
- Provides “pay to the penny” (100% access) to net pay at no fee
- The Money Network check can be cashed for free in all 50 states
*Use of the card by the employee is optional
Allows you to achieve 100% electronic pay thus reducing the
costs associated with issuing paper checks
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The Bounceless
Money Network™ Check
Employee generated as desired, no employer involvement
Enables compliance with state payroll requirements
Provides “pay to the penny” (100% access) to net pay at no fee
• Paper negotiable document
• Free check cashing at participating locations
• Delivers access to funds if pay card is lost or stolen
• Bill payment tool for the unbanked
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Overcoming Obstacles to
100% Electronic PayMoney Network™ Overcomes Obstacles
Every employee qualifies
Money Network™ Checks – paper
negotiable documents provide immediate
access to all wages via free check cashing
at participating locations
Money Network™ Check and optional Pay
Card enable compliance with state
regulations
REG E compliant stored value
Typical Payroll Obstacles
• Unbanked employees
• State payroll regulations
• Pay-to-the-penny
Money Network™ is committed to payroll compliance.
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Enabling Compliance through
The Money Network™ Service
• The Solution: Money Network provides a payroll distribution service which is
comprised of a check – the Money Network™ Check and an optional paycard
• Warranty of the Money Network™Check:
- Check is a negotiable instrument: The Money Network Check, when properly completed and authorized,
is a negotiable instrument under the Uniform Commercial Code as in effect in each of the 50 states
- The Money Network Solution currently complies with state payroll laws in all 50 states, through the use
of the MN check option
• A majority of states require an option for a payroll check. Our check component
enables compliance with such requirement
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Employee Access To Funds Money Network Check
•“Pay to the Penny” = 100% access
• Paper Negotiable Document
• Self Issued “bounce-less” pay check
• Access to funds without the card
•Can be used to pay bills instead
ATM
• Accepted at all ATM’s
• 37,000 plus surcharge free locations – Allpoint Network
Bank Over The Counter
• VISA Signature Cash Advance = 100% access
POS Debit
• Accepted at all POS PIN Debit locations
• “Cash Back” with PIN purchases
• Free signature POS with VISA® signature transactions
ACH Transfer
• To existing bank accounts = 100% access
Orlandi Valutta• Money Transfer to Mexico & Latin America
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National ATM Coverage
To check for the nearest Surcharge
Free ATM location, please visit:
www.moneynetwork.com
1 of 12 ATMs in America is
an Allpoint Surcharge-Free ATM
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Enrollment
• Enrollment in the Money Network
program can be completed utilizing
three methods.
• The required information for
enrollment are the employee's name,
address, social security number, card
or account number and birth date are
required elements for the enrollment
process.
CMS Web
Enrollment data is entered on a
manual basis for individual
employees by typing data into
our website.
CMS Bulk
Enrollment data is extracted from
your payroll system and
uploaded to our website.
BatchLoader
Enrollment data is extracted from
your payroll system and sent to
us in a batch file via SFTP. This
is the most automated way to
enroll employees on a long-term
basis.
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Standard ACH Direct Deposit
No additional processes, software or banking relationships required
Batch File Funding
Same day funding (file every 15 minutes if required)
Web Funding
Instant funds transfer
Internet based
Off cycle adjustments
Account Loading Options
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Implementation and Training
Implementation
• Approximately 6-12 Weeks
• Includes training, product inventory management, enrollment, funding and final
production testing
Training
• All training will be facilitated by Money Network (field manager training, including
product training, program administration, compliance, reporting)
• Your training needs will be mapped out during the early stage of implementation
Ongoing Client Support
• Dedicated Relationship Manager will be assigned
• Continued communication on product enhancements
• Access to Money Network Client Service Teams
Customer Support
• 24/7 Toll-Free Operator Support (Spanish and English)
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Employee Awareness and Education Money Network supports every aspect of the process
• Statement stuffers to announce the move to new
pay options
• Posters, table tents, take-ones available for work
locations to communicate the benefits of the new
pay program
• Cardholder bi-lingual marketing packets for
enrollment and training, include:
• Card carrier with fee schedule that includes an
enrollment form to use, if needed
• Easy to follow instructions for activating and
setting up personal PIN numbers
• Cardholder terms and conditions
• Introduction to and instructions for using the card
& check
How To Guides – English & Spanish
Table Tents
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Money Network Works for Everyone
Delivering 100% electronic payroll distribution.
Employer
100%
electronic pay
participation
Employees With
Bank Accounts
Use current bank
account to receive
direct deposits
Employees Without
Bank Accounts
Employees Who Want
Paper Pay Checks
Use Money Network™
Checks for
pay-to-the-penny
Use Money Network™
Card account to receive
direct deposits
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Electronic Paystub Portal
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Money Network Pay Stub Solution
Money Network is a leading provider of pay distribution services.
The Money Network Pay Stub Solution provides employers with a secure,
electronic pay stub distribution solution that saves time and money by giving
employees easy and confidential access to pay stub information.
Proven implementation
methodology.
Success moving clients
to 100% electronic pay.
Leading multiple option
solution provider.
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Flexible Pay Stub SolutionProduct Features
• A secure, First Data hosted solution that distributes
pay stub information through:
•A secure website.
•An automated phone system (IVR) .
•An on-demand pay stub printing device.
•Email or text message notification.
• Delivers pay stub information for all employees whether
they receive their pay via the Money Network™
Program, direct deposit, paper paychecks or other
payroll distribution services.
• Includes flexible tools for employers to:
•Set pay stub release dates for each form of distribution.
•Control employee access to pay stub information.
•Print custom messages on the pay stub.
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Reduce Costs and Help Employees
Employer Benefits
• Reduces costs by eliminating the
printing and distribution of pay stubs.
• Enables employees on-demand
access to print their pay stub as
needed by group or location
• Helps eliminate costly employee
requests for pay stub information.
• Better control of pay stub distribution
with use of flexible tools.
Employee Benefits
• Easy access to current and
historical pay stub information.
• Security knowing that personal and
pay stub information is confidential.
• Timely notification of pay with each
new pay cycle.
• Opt in to e-mail or text message
notifications.
• Paper stub available on demand.
• Access even after termination.
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Pay Stub Distribution Process
Securely transmit pay stub information to First Data.
Money Network will securely load and store pay stub data.
Employer specifies the date pay stub information will be
available for employees to view on-demand through the
Pay Stub Portal access points.
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Pay Stub Solution Access Points
Online Portal Access Text Message or
email with pay
stub information
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Hard Copy: On demand
thru POS Receipt Printer
•Presents a paper option for all
employees. Fulfills the need
when a paper copy of the stub is
needed by any group of
employees or specific location.
•Delivery to current or new
dedicated advice printers
• On demand -POS Printer
• 24 Hour employee access
• Re-print capabilities
• Offers full pay data
information
• Secure, First Data Hosted
Website with print screen
capabilities
• Offers full pay stub detail
as well as a 36-month
history of stubs.
• Employee can access
from home or work or
even after they leave
employment.
4Pay stub
information
via IVR
• First Data Hosted
• Interactive Voice
Response system
allows employees
to get critical pay
stub summary
information quickly
and easily.
Payroll Date: 07/24
Net Amount: $324.56
Taxes: $23.67
History
• Employee opt-in
• Employees can
choose this option
to receive a
summary text
message or full
detail email
message which is
sent to them
automatically each
pay period.
All of these access points can be used at any time by any employee!
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On-Line Portal View
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Text Message
PAY
01/06/2009
ABC Company
End: 12/31/2009
Net: $1517.82
Hrs: 42.00
Gross: $1793.11
Tax: $109.23
Ded: $166.06
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Email Message
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Receipt Printer
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Technical Requirements
Batch File:
• Prior to each pay date a batch file will be submitted using either
Money Network's Pay Stub Portal format (spec will be provided) or
your format (extra time and implementation cost required).
• Files are submitted over SFTP and are encrypted with PGP.
Terminal:
• Internet access (HTTPS/port 443) using either Ethernet/IP
(recommended) or an analog phone line.
• Standard AC power source.
Website:
• Internet access (HTTPS/port 443) using either Ethernet/IP
(recommended) or an analog phone line.
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THANK YOU !