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Tuesday September 18, 8:08 am Eastern Time
Press Release
SOURCE: Wells Fargo & Company
Electronic Check and Internet donations to American Red Cross now possible through WellsFargo.com
Wells Fargo Launches SecureSource, a Full-Service Payments Platform for Business Customers; First Customer is American Red Cross
SAN FRANCISCO--(BUSINESS WIRE)--Sept. 18, 2001-- The American Red Cross was the first major customer to use the newly launched Wells Fargo SecureSource payments service by making online donations possible through WellsFargo.com (NYSE:WFC - news). The new payment option will make it easier and more convenient for anyone with Internet access to make contributions to help the relief effort for the families that were affected by last week's catastrophe.
``Wells Fargo donated $1 million to the American Red Cross last week,'' said Clyde Ostler, group executive vice president of Internet Services for Wells Fargo. ``Now we're letting others contribute by making it possible for people nationwide to use a credit card or an e-check to donate to the American Red Cross from the convenience of their home or office.''
Wells Fargo is one of only four Internet sites authorized to accept donations on behalf of the American Red Cross. It is also the only site authorized to accept e-check donations to the Red Cross. Since it launched the donation service last Friday evening, over $100,000 in contributions has been funneled through WellsFargo.com to the Red Cross, 60% of which were by e-check.
``The American Red Cross is working around the clock to ensure that those affected by last week's tragedies have comfort and care,'' said John Clizbe, vice president of Disaster Services for the American Red Cross. ``We are grateful that so many Americans including those from corporate America have demonstrated a willingness to help the Red Cross provide immediate relief to everyone who has been touched by these catastrophic events.''
As businesses turn to the Internet to streamline every aspect of their operations, Wells Fargo & Company today launched payment processing solutions for small business owners nationwide. The Wells Fargo SecureSource payments service is now part of a suite of solutions for businesses receiving payments securely online. This service is now available through the Small Business Resource Center (www.wellsfargo.com/biz), Wells Fargo's Internet resource for small business customers that features a wide range of products and services that maximize every stage of business development, including Online Payroll by Wells Fargo.
The Wells Fargo SecureSource payments service combines InfoSpace's (Nasdaq:INSP - news) innovative payment processing platform, Authorize.Net(TM), with Wells Fargo's sophisticated risk and fraud management technology. The new service is an expanded payments solution that enables customers to accept most forms of payment through the Internet that are available offline. A small business can now immediately apply, accept, fraud-screen and settle credit card and eCheck transactions using a single online interface. In addition, Wells Fargo small business customers will be able to view and manage their online payments account and transaction history in real-time -- making financial reconciliation and customer dispute management simple and efficient.
Other new services available at the Resource Center include:
OnlinePayroll by Wells Fargo -- a paperless, secure online payroll management solution that saves customers time and money by simplifying recurring payroll administrative tasks such as calculating net pay amounts, paying employees, managing payroll tax deposits, and filing payroll tax returns. Since payroll tax compliance is seamlessly integrated into the service, entrepreneurs can avoid costly penalties and focus on growing their business rather than trying to keep up with ever-changing payroll tax regulations. OnlinePayroll by Wells Fargo also provides online access to current and historical payroll information with separate capabilities for employees, administrators and approvers.
Oracle Small Business Accounting, which allows customers to preview enter, process and update accounting data online 24 hours a day, seven days a week. This service, provided in partnership with Oracle, was recently acknowledged with a PC Magazine Editors' Choice Award. Oracle Small Business Accounting features customizable reporting tools creating a greater degree of flexibility and control. Internet-based accounting gives customers access to up-to-date business information, anytime and anywhere. The service also includes accounts receivable, accounts payable, sales order processing, invoicing and estimates, and complete inventory management.
Wells Fargo has also forged an alliance with Office Depot, Inc. (NYSE:ODP - news), the world's largest seller of office products, which gives small business customers easy access to ordering office supplies when they make purchases through the Small Business Resource Center. Available later this month, Wells Fargo and Office Depot will also be offering weekly `Best Values.' ``Small businesses can save time and money on frequently purchased office supplies and services through our link at www.wellsfargo.com/biz,'' said Monica Luechtefeld, executive vice president of e-commerce for Office Depot. ``This is a valuable partnership for our companies, but even more valuable for the small business customer in time and cost savings.''
In the next several weeks, Wells Fargo is planning to introduce a new online tool that enables small business owners to find information on money management, marketing, technology and legal issues about their businesses. ``With our new Business Tips section, business owners will be able to quickly find useful online information about a variety of topics, including how to maximize cash flow, how to prepare for financial downturns, how to adapt new payroll rules, how to attract and retain employees and much more,'' said Rebecca Macieira-Kaufmann, executive vice president and head of Small Business Marketing.
About Wells Fargo
Wells Fargo & Company (NYSE:WFC - news) is a $290 billion diversified financial services company providing banking, insurance, investments, mortgage and consumer finance services through more that 5,400 stores, its Internet site www.wellsfargo.com and other distribution channels across North America as well as internationally. With more than 1.5 million small business customers, Wells Fargo is the largest small business lender in the United States, according to SNL Securities data. In 1995, Wells Fargo became the first bank to provide a secure credit card transaction over the Internet, and to launch person-to-person payments by credit card and e-check in 2000.
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Contact:
Wells Fargo & Company
Wendy Grover, 415/396-5905
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