Wells Fargo's Merchant Checking Awarded Most Innovative Product
Wells Fargo has received the Barlow Research Monarch Innovation "Most Innovative Product" Award for its newest small business checking account product -- Merchant Checking. Described as an "industry first financial package, Merchant Checking combines the convenience of a business checking account with the ability to accept credit and debit card payments at a flat, low, discounted rate."
"This award really should go to our customers and team members," said Debra Rossi, executive vice president and general manager of Wells Fargo's Merchant Payment Solutions. "Merchant Checking was developed as a result of our team members working together and with our customers to help them succeed. This product provides small business owners with a solution that is simple, affordable and will allow them to better serve their customers and manage their businesses."
As credit and debit card payments become increasingly popular methods of payment for consumers, expanding payment acceptance options beyond cash and checks gives small business owners an opportunity to grow sales and improve cash flow. Launched in March 2007, Merchant Checking allows small business owners to accept credit and debit card payments and have access to funds as soon as the next business day in the associated business checking account -- simultaneously meeting two core business needs.
"Merchant Checking provides small business owners with the ability to better serve their customers by offering a broader selection of convenient payment options," said Rebecca Macieira-Kaufmann, executive vice president and head of Wells Fargo's Small Business Segment. "As America's number one small business lender, Wells Fargo is committed to developing products and services to help small businesses succeed financially. We are very pleased and honored to receive this recognition from Barlow Research."
The Monarch Innovation Awards recognize financial institutions that provide the most innovative products to business customers. Merchant Checking was selected based on its uniqueness, value and ease of use as determined by the judging panel. Judges were Jim Carroll, Futurist, Trends & Innovation; Bob Leahy, an AFP Discussion List contributor; Larry Marks, President, Marks & Associates; John O'Connor, Practice Manager, Benchmark Consulting; and Ken Parkinson, Managing Director, TIS Consulting. The 2008 award winners were recognized at the 2008 Barlow Client Conference in Atlanta on Tuesday, March 4th.
Add your comment... (note that all comments are reviewed before they're published)