Microsoft to deliver credit card processing to Office Small Business Accounting users

Source: Microsoft

At its Worldwide Partner Conference 2005, Microsoft Corp. (Nasdaq: MSFT) today announced it will collaborate with leading merchant acquiring institutions, including Chase Merchant Services, L.L.C., to offer credit card processing for Microsoft® Office Small Business Accounting 2006 users.

Credit Card Processing for Small Business Accounting 2006 is ideal for small businesses that want to accept credit and debit card payments. Small Business Accounting 2006 - specifically designed for businesses with up to 25 employees - will provide integrated tools to help small companies meet their important financial needs.

"Throughout the design and development of Small Business Accounting, we've been completely focused on delivering a competitively priced solution that simplifies financial management for our small-business customers," said Steve Guggenheimer, vice president of small business for the Small Midmarket Solutions & Partner Group at Microsoft. "We're delighted to further enhance the Small Business Accounting product to include processing capabilities with Chase Merchant Services. We know that more small businesses want to be able to easily accept credit and debit cards for purchases. With this strategic relationship, we're working to make this process incredibly easy for small businesses while also helping them to cut down on their costs."

Credit Card Processing for Small Business Accounting 2006 will provide a solution that can help customers obtain a variety of benefits:
  • Increased revenue. Small business will be able to accept phone orders as well as reach new customers who want to pay by credit or debit card.
  • Reduced costs. It will eliminate the need to rent or buy a separate terminal or telephone line. In addition, Small Business Accounting users will qualify for competitive discount rates.
  • Reduced data entry. Credit card transactions will be captured directly into Small Business Accounting, allowing customers to reduce redundant data entry.

    Payment Services Providers Selected With Small Businesses in Mind

    Although today's announcement sets the stage for deeper engagements with payment service providers, Chase Merchant Services was initially selected because of its experience in working with small businesses, for which Small Business Accounting 2006 was developed.

    "The number of small businesses in this country continues to grow making them significant contributors to the U.S. economy," said Drew Freeman, executive vice president of Chase Merchant Services. "As this number continues to proliferate, so will the need for innovative products and services that will help small-business owners operate better, faster and more efficiently. Chase Merchant Services' expertise in providing small businesses with payment solutions and Microsoft's industry-leading software applications and strong brand is a significant step in that direction."

    As part of Microsoft's commitment to its customers, it plans to offer multiple bank options to ensure that customers have a choice of banks to work with. For those customers with an already existing bank relationship, Microsoft is working with VeriSign Inc. to enable customers to transact in a security-enhanced online environment to help prevent disruption to their business.
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