Companies: Visa U.S.A., Wachovia Corp., U.S. Bank
Product: Visa Information Source (VIS) Select

Owners of small businesses have enough paperwork and record keeping to deal with. To help them track the debit and credit transactions they conduct, Visa U.S.A. announced the launch of a pilot to test a Web-based reporting solution. The solution is designed specifically to meet the financial reporting needs of small businesses and will be piloted to small business cardholders with accounts at Wachovia and U.S. Bank.

Called Visa Information Source (VIS) Select, the solution automates the costly paper reporting process that has traditionally been part of small business transactions.

It also offers financial institutions an enhanced and more robust level of reporting to their small business customers.

The VIS Select option is part of the Visa Information Source program; its functions have been tailored to suit the needs of small business debit and credit cardholders. The reports provide summary and detail level information of spending by cardholder, company and specific merchant categories.

Its features include an easy-to-navigate Web interface; easy integration with accounting applications such as QuickBooks, Quicken and Microsoft Money; flexible data management options and expense management tools.

Since its rollout in 2002, the VIS program has enabled member banks and their commercial customers from all market segments to select from dozens of reporting capabilities, viewable online or delivered by e-mail.

Through VIS Select, small businesses are able to benefit from sophisticated reporting tools without making further technology investments. Member banks can offer this value-added service to their Visa Business card programs without costly development efforts.

Following the successful completion of the pilot, the VIS Select service will be rolled out to Wachovia and U.S. Bank's customers later in 2004. Other Visa member banks are considering offering the VIS Select program to their business cardholders as well.

U.S. Bancorp.
www.usbank.com

Visa U.S.A.
www.usa.visa.com

Wachovia Corp.
www.wachovia.com

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