Bank of America and MerchantWired Align to Deliver More Efficient Payment Solutions to Retailers

Retailers Can Cut Transaction Costs and Shorten Customer Wait Times



Apr 25, 2001, 01:00 ET from Banc of America

    INDIANAPOLIS, April 25 /PRNewswire/ -- On April 25, Bank of America
 (NYSE:   BAC) and MerchantWired will form an alliance to provide retailers with
 comprehensive payment and financial technology solutions. Bank of America will
 provide a full range of payment solutions to retailers on the MerchantWired
 network along with world class service through its merchant acceptance
 subsidiary, BA Merchant Services, Inc.; MerchantWired will provide revenue
 enhancing technology solutions for the retail industry.
     Through this agreement, MerchantWired will help individual retailers lower
 their processing costs by delivering an always-on, high-speed payment network
 and by aggregating their collective payment transactions through Bank of
 America.  It also will provide full-service payment acceptance solutions,
 including high-speed credit card authorization services. Bank of America will
 provide transaction settlement services and back-office support.
     "Slow processing of credit card authorizations can be extremely
 frustrating for retailers and their customers. Our agreement with Bank of
 America facilitates these transactions for a better customer shopping
 experience and a measurable cost savings for retailers," said James
 Giuliano III, president and CEO of MerchantWired.
     "Bank of America is pleased to work with MerchantWired in bringing
 innovative payment solutions to the retail industry," said Lorraine S.
 Stimmel, executive vice president of BA Merchant Services. "Partnering
 MerchantWired's always-on, high-speed network solutions with Bank of America's
 leading financial services provides a range of advanced payment solutions and
 applications not previously accessible by retailers."
     The launch of MerchantWired's Financial Technology Solutions Group,
 including partnerships with Bank of America, highlights MerchantWired's
 commitment to provide retailers with payment services that deliver high return
 on investment (ROI).  The partnership with Bank of America is designed to help
 retailers lower operating costs through the reduction of fraud and charge-back
 expenses, empowering retailers with self-service capabilities and introducing
 retailers to new methods of electronic payment that expedite the transition
 from more expensive forms of payment.
 
     About Bank of America
     One of the world's largest financial services companies, Bank of America
 is committed to making banking work for customers like it never has before.
 Through innovative technologies and the ingenuity of its people, Bank of
 America provides individuals, small businesses and commercial, corporate and
 institutional clients across the United States and around the world new and
 better ways to manage their financial lives.  The company enables customers to
 do their banking and investing whenever, wherever and however they choose
 through the nation's largest financial services network, including more than
 4,400 domestic offices and 13,000 ATMs, as well as 38 international offices, a
 telephone banking network that handles over a half billion calls a year and an
 Internet Web site that provides online access for over 3 million customers,
 more than any other bank.
     Bank of America stock (NYSE:   BAC) is listed on the New York, Pacific and
 London stock exchanges.  The company's Web site is www.bankofamerica.com .
 News, speeches and other corporate information may be found at
 www.bankofamerica.com/newsroom .
 
     About BA Merchant Services
     BA Merchant Services, Inc., a wholly-owned subsidiary of Bank of America,
 is one of the largest credit card and debit card payment providers in the
 United States. Delivering on the promise of world-class service, the company
 provides merchants with innovative and cost efficient payment solutions. BA
 Merchant Services is committed to deploying leading-edge products and services
 that enable merchants to accept payments whenever, wherever, and however they
 choose through physical commerce solutions, Internet commerce solutions, and
 wireless commerce solutions.
 
     About MerchantWired
     MerchantWired ( www.merchantwired.com ) delivers managed network services,
 technology solutions, and integration services exclusively to the retail
 industry to help improve store performance, enhance customer experience, and
 increase profitability.  MerchantWired currently serves more than 350 malls
 and can deploy network and solutions resources on demand to all mall
 properties throughout the U.S.  MerchantWired works in partnership with a
 coalition of property owners including The Macerich Company, The Rouse
 Company, Simon Property Group, Taubman Centers, Inc., Urban Shopping Centers,
 Inc., and Westfield America, Inc.  MerchantWired's strategic technology
 alliance partners include Cisco, IBM, AT&T, Bank of America, Symbol
 Technologies, ACI Worldwide, and Intermedia Communications.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X24661224
 
 

SOURCE Banc of America
    INDIANAPOLIS, April 25 /PRNewswire/ -- On April 25, Bank of America
 (NYSE:   BAC) and MerchantWired will form an alliance to provide retailers with
 comprehensive payment and financial technology solutions. Bank of America will
 provide a full range of payment solutions to retailers on the MerchantWired
 network along with world class service through its merchant acceptance
 subsidiary, BA Merchant Services, Inc.; MerchantWired will provide revenue
 enhancing technology solutions for the retail industry.
     Through this agreement, MerchantWired will help individual retailers lower
 their processing costs by delivering an always-on, high-speed payment network
 and by aggregating their collective payment transactions through Bank of
 America.  It also will provide full-service payment acceptance solutions,
 including high-speed credit card authorization services. Bank of America will
 provide transaction settlement services and back-office support.
     "Slow processing of credit card authorizations can be extremely
 frustrating for retailers and their customers. Our agreement with Bank of
 America facilitates these transactions for a better customer shopping
 experience and a measurable cost savings for retailers," said James
 Giuliano III, president and CEO of MerchantWired.
     "Bank of America is pleased to work with MerchantWired in bringing
 innovative payment solutions to the retail industry," said Lorraine S.
 Stimmel, executive vice president of BA Merchant Services. "Partnering
 MerchantWired's always-on, high-speed network solutions with Bank of America's
 leading financial services provides a range of advanced payment solutions and
 applications not previously accessible by retailers."
     The launch of MerchantWired's Financial Technology Solutions Group,
 including partnerships with Bank of America, highlights MerchantWired's
 commitment to provide retailers with payment services that deliver high return
 on investment (ROI).  The partnership with Bank of America is designed to help
 retailers lower operating costs through the reduction of fraud and charge-back
 expenses, empowering retailers with self-service capabilities and introducing
 retailers to new methods of electronic payment that expedite the transition
 from more expensive forms of payment.
 
     About Bank of America
     One of the world's largest financial services companies, Bank of America
 is committed to making banking work for customers like it never has before.
 Through innovative technologies and the ingenuity of its people, Bank of
 America provides individuals, small businesses and commercial, corporate and
 institutional clients across the United States and around the world new and
 better ways to manage their financial lives.  The company enables customers to
 do their banking and investing whenever, wherever and however they choose
 through the nation's largest financial services network, including more than
 4,400 domestic offices and 13,000 ATMs, as well as 38 international offices, a
 telephone banking network that handles over a half billion calls a year and an
 Internet Web site that provides online access for over 3 million customers,
 more than any other bank.
     Bank of America stock (NYSE:   BAC) is listed on the New York, Pacific and
 London stock exchanges.  The company's Web site is www.bankofamerica.com .
 News, speeches and other corporate information may be found at
 www.bankofamerica.com/newsroom .
 
     About BA Merchant Services
     BA Merchant Services, Inc., a wholly-owned subsidiary of Bank of America,
 is one of the largest credit card and debit card payment providers in the
 United States. Delivering on the promise of world-class service, the company
 provides merchants with innovative and cost efficient payment solutions. BA
 Merchant Services is committed to deploying leading-edge products and services
 that enable merchants to accept payments whenever, wherever, and however they
 choose through physical commerce solutions, Internet commerce solutions, and
 wireless commerce solutions.
 
     About MerchantWired
     MerchantWired ( www.merchantwired.com ) delivers managed network services,
 technology solutions, and integration services exclusively to the retail
 industry to help improve store performance, enhance customer experience, and
 increase profitability.  MerchantWired currently serves more than 350 malls
 and can deploy network and solutions resources on demand to all mall
 properties throughout the U.S.  MerchantWired works in partnership with a
 coalition of property owners including The Macerich Company, The Rouse
 Company, Simon Property Group, Taubman Centers, Inc., Urban Shopping Centers,
 Inc., and Westfield America, Inc.  MerchantWired's strategic technology
 alliance partners include Cisco, IBM, AT&T, Bank of America, Symbol
 Technologies, ACI Worldwide, and Intermedia Communications.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X24661224
 
 SOURCE  Banc of America