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Comdata Providing Paperless Payday Option for Sears Employees; Sears PayCard Provides Portable Money Management Services for Unbanked Workers.



Business Editors

NOTE TO MEDIA: Multimedia assets available

Comdata Corporation announced today the launch of the Sears PayCard, a card-based payroll product to be offered as an electronic alternative to paper paychecks for Sears employees nationwide. Sears is the latest national retailer to supplement its direct deposit and paper check payroll programs with the Comchek(R) eCash card, the flagship payroll product from Comdata.

"Comdata is honored that one of the nation's largest and most trusted retailers is now a part of the Comchek eCash family," said Gary Krow, president, Comdata Corporation. "In the current economy, Sears realizes the importance of providing innovative, alternative methods of payroll distribution for its employees. For most employers, the Comchek eCash card becomes a competitive recruiting tool and an important component of employee satisfaction."

Introduced in 1994, the Comchek eCash product enables employees with or without banking relationships to receive payroll and other company-provided funds on their own secure, personal payroll card they can use just like an ATM card An ATM card (also known as a bank card, client card, or cash card) is an ISO 7810 card issued by a bank, credit union or building society.

Its primary uses are:
 for cash at Cirrus(R) ATMs, and for debit purchases wherever MasterCard(R) is accepted. With Comchek eCash, funds are loaded to employee cards immediately on an employer-determined schedule, with adjustments and funds distribution occurring in real-time. Payroll managers have access to payroll and payment distribution reports on a secure Web page, and can activate and deactivate de·ac·ti·vate  
tr.v. de·ac·ti·vat·ed, de·ac·ti·vat·ing, de·ac·ti·vates
1. To render inactive or ineffective.

2. To inhibit, block, or disrupt the action of (an enzyme or other biological agent).

3.
 cards at any time for a completely secure alternative to paper checks. More than 500,000 individuals currently receive payroll and other funds via the Comdata card.

"We found Comdata was able to provide the features our employees wanted in a pay card -- speed of card activation, customer services support and low cost," said Ken Millen, director of human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees.  for Sears. "Employees who elect to receive their pay on the Sears PayCard no longer have check cashing fees, and they have the added security of knowing their money is secure if their card is ever lost or stolen."

As one of the latest Comchek eCash providers, Sears joins a number of national retailers and employers who have recently adopted card-based payroll services through Comdata. The company provides electronic, card-based payroll services for retailers, restaurant and food service suppliers, trucking, and other industries in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  and Canada.

About Comdata

Comdata Corporation (www.comdata.com) is redefining the movement of money and information through technology for businesses, their customers and employees. A leading provider of transaction and information services See Information Systems. , Comdata provides Comchek(R) credit and debit processing and reporting for commercial fleets and merchants, SVS SVS - OS/VS2  electronic cash, gift and chip card programs for retailers and governmental agencies, Comchek(R) eCash payroll services for food, retail and other service industries, and point-of-sale equipment for travel plazas and convenience stores The following is a list of convenience stores organized by geographical location. Stores are grouped by the lowest heading that contains all locales in which the brands have significant presence. . Headquartered in Brentwood, TN, Comdata employs nearly 2,000 people throughout the United States and Canada. Comdata is a wholly-owned subsidiary of Minneapolis-based Ceridian Corporation (NYSE NYSE

See: New York Stock Exchange
:CEN CEN - Conseil Européen pour la Normalisation.

A body coordinating standardisation activities in the EEC and EFTA countries.
).

About Sears

Sears, Roebuck and Co. is a broadline retailer with significant service and credit businesses. In 2001, the company's annual revenue was more than $41 billion. The company offers its wide range of apparel, home and automotive products and services to families in the U.S. through Sears stores nationwide, including approximately 870 full-line stores. Sears also offers a variety of merchandise and services through its Web site, www.sears.com. In June 2002, Sears acquired Lands' End
For other uses, see Land's End (disambiguation)
Lands' End is a clothing retailer based in Dodgeville, Wisconsin, that specializes in casual clothing, luggage, and home furnishings.
, a direct merchant of traditionally styled, classic Lands' End clothing offered to customers around the world through regular mailings of its specialty catalogs and online at www.landsend.com.

NOTE TO EDITORS: Electronic image of the Sears PayCard is available via Business Wire, or by calling Comdata corporate communications at 1-800-COMDATA, extension 3

Note: A Photo is available at URL URL
 in full Uniform Resource Locator

Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program.
:

http://www.businesswire.com/cgi-bin/photo.cgi?pw.071602/bb7
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Publication:Business Wire
Date:Jul 16, 2002
Words:628
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