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Comdata Teams with eFunds Corporation for Surcharge-Free Pay Cards
BRENTWOOD, Tenn. --(Business Wire)-- July 29, 2004 -- Comdata(R) Corporation, a wholly owned subsidiary of Ceridian Corporation (NYSE:CEN), announced today it has signed an agreement with eFunds Corporation to offer a surcharge-free network option to its payroll card customers. The service, expected to be available later in the year, will give Comdata cardholders surcharge-free access to eFunds' U.S. ATM network of more than 15,000 ATMs.
Comdata is a leading provider of payroll electronic distribution services primarily through its Stored Value Systems (SVS) subsidiary as well as through its transportation division, which serves the trucking industry. The company has more than 5,600 businesses throughout retail, transportation, and many other industries that rely on Comdata for electronic payroll distribution. Comdata's payroll card functionality is one of several innovative corporate payment tools offered as part of BusinessLink, the only one-card business solution for purchasing, T&E, fleet and payroll/expense reimbursement.
"This arrangement creates tremendous value for our customers and their employee cardholders," Wayne Chatham, SVS senior vice president sales and marketing. "We know our customers want to be able to offer surcharge-free ATM access to their employees, and we believe eFunds delivers an ATM network with exceptional convenience and value."
Chatham said that Comdata wanted to work with a full-service provider, one that not only offers an impressive network but is also a direct deployer of ATMs.
"Direct control means that eFunds is committed to servicing its ATMs as well as offering an excellent network, and we believe that represents a strong commitment to customer satisfaction, one that matches ours," Chatham said. " In addition, the prominent retail partners in their network means convenient access for cardholders beyond the traditional financial institution networks."
eFunds Corporation manages one of the largest ATM networks in North America, with locations in both the U.S. and Canada.
"This is a match of like minds," said David McCrary, vice president, ATM national sales, eFunds Corporation. "Comdata was looking for a solution that fit their high standards for system reliability and functionality while offering cardholders flexibility and maximum choice. This is what we've built our business on as well."
About Comdata
Comdata Corporation (www.comdata.com) is a leading provider of transaction and payment services. Comdata provides credit and debit processing and reporting for commercial fleets and merchants, electronic cash, gift and smart/chip card programs for retailers and governmental agencies, pay card services for food, retail and other service industries, and point-of-sale equipment, software and auxiliary services for merchants and convenience stores. Headquartered in Brentwood, Tenn., Comdata employs more than 1,500 people internationally. Comdata is a wholly owned subsidiary of Minneapolis-based Ceridian Corporation (NYSE:CEN).
About Stored Value Systems (SVS)
SVS is a leading provider of retail cash card services and chip card programs, including gift cards and payroll cards. Retailers across America rely on SVS to create customer loyalty, increase transaction volumes and strengthen their competitive position in the retailer marketplace. Headquartered in Louisville, Ky., Stored Value Systems is a wholly-owned business unit of Comdata Corporation.
About eFunds
eFunds Corporation (NYSE:EFD) is an industry leader with nearly 30 years of experience and expertise in electronic payments. eFunds provides electronic transaction software and processing solutions, ATM solutions, risk management and global outsourcing solutions to financial institutions, electronic funds transfer networks, government agencies and retailers around the world.
Committed to providing excellent customer service and award-winning products, eFunds enables its clients to reduce transaction and infrastructure costs, detect potential fraud and enhance relationships with their customers. eFunds is one of the largest third-party processors of electronic funds transfers (EFT), is the largest non-bank deployer of ATMs in North America, and is the provider of the world's largest debit database. www.eFunds.com.
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