Merchant Checking from Wells Fargo

Available at a flat rate of 1.99% plus $.30 for all signature-based Visa® and MasterCard® transactions, Merchant Checking provides a simple pricing structure applicable to all card types, including rewards cards, as well as for both keyed and swiped transactions. With this pricing structure, Merchant Checking offers more predictability and cost controls, easier and more manageable account statements, and improved efficiency. The product is ideal for smaller businesses accepting in person card payments, such as nail salons, dry cleaners and doctors' offices.

"As the industry moves toward electronic payments, small business owners need to offer their customers convenient and secure payment solutions," said Debra Rossi, executive vice president and general manager of Wells Fargo Merchant Services. "Wells Fargo's new Merchant Checking package product provides small business owners with an all-in-one solution that is secure, simple and affordable to help them remain competitive and manage cash flow in today's environment."

According to a 2006 American Bankers Association study, credit and debit cards are now consumers' preferred method of payment, while cash and checks account for less than half of consumers' monthly payments. Other industry research indicates that by accepting card payments, small business owners can potentially increase revenues by as much as 23 percent.

"As America's number one small business lender, Wells Fargo is committed to developing products and services to help small businesses succeed financially," said Rebecca Macieira-Kaufmann, executive vice president and head of Wells Fargo's Small Business Segment. "Acquiring and retaining customers is critical to small businesses. Merchant Checking provides small business owners the ability to expand their customer reach by offering a selection of payment options that are convenient for their customers and improve their cash flow."

Since 1976, Wells Fargo has offered new and more efficient ways for merchants to process electronic payments of all kinds. This process began with the design of an in-house authorization and processing system, establishing Wells Fargo as the first financial institution to offer electronic authorization for MasterCard® and Visa® transactions. Wells Fargo Merchant Services is the leader in the merchant electronic payment services industry, providing payment processing services to over 214,000 merchant outlets with a total annual processing volume in excess of $77 billion. For more information about Merchant Checking, visit http://www.wellsfargo.com/biz.