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Pace University chooses Higher One to provide a unique "OneAccount" banking solution

CampusIDNews Staff   ||   May 29, 2003  ||   

Pleasantville, NY – May 29, 2003 Pace University has chosen Higher One to provide its “OneAccount” banking solution to all students, faculty, and staff. Higher One is a financial services firm focused exclusively on creating customized solutions for the higher education market.

Starting this fall, the “OneAccount” will be automatically offered as a benefit associated with enrollment at Pace University. This benefit will provide easy access to banking services linked to the Higher One’s customized financial system and the university’s administrative card and financial systems. The OneAccount may serve as a primary bank account, allowing cardholders to use their Pace ID cards to complete transactions anywhere, anytime.

The card will function as a “MasterCard debit card” and be accepted by over 24 million merchants worldwide. Cardholders can access cash from ATMs, write checks, send and receive money electronically from their accounts and monitor the details of their accounts online.

The service will make it possible for students to receive financial aid and other refunds electronically to their OneAccount and for all student employees to electronically receive their payroll checks. This automation will result in increased efficiency and cost savings for the University.

“We are pleased with this arrangement, which is yet another innovative way of serving our students, ” said Leonard Sippel, Executive Vice President for Finance and Administration at Pace. “Pace University has been a leader in change for higher education and this arrangement is a good fit for us.”

Walter Hinckfoot, national sales vice president for Higher One, said his company is pleased with the package of options chosen for the Pace OneCard. “We are very excited to have the opportunity to provide our innovative service to Pace University,” said Hinckfoot. “This is a good fit with our commitment to making the higher education experience more pleasant and efficient for students and institutions.”

About Pace University
Pace is a comprehensive, independent University with campuses in New York City and Westchester County. Nearly 13,500 students are enrolled in undergraduate, graduate and professional degree programs in the Dyson College of Arts and Sciences, Lubin School of Business, School of Computer Science and Information Systems, School of Education, School of Law, Lienhard School of Nursing and the World Trade Institute.

About Higher One
Higher One provides customized private label and one card banking relationships to higher education institutions. The company’s solutions help university partners reduce administrative costs, streamline business processes, increase revenue opportunities, improve the student experience, and strengthen campus community. The company is led by a team of executives with backgrounds in higher education, finance, banking, and entrepreneurship. Fred Frank, Vice Chairman of Lehman Brothers, John Griswold, VP for External Communications for the Commonfund, and other leaders in higher education and finance serve as advisors. David Cromwell, former CEO of JP Morgan Capital, Carl Hanes, Past Chairman of NACUBO, and Paul Biddelman, President of Hanseatic Corporation, serve on Higher One’s board.

Press inquiries, please contact: Mark Volchek, Founder and Chairman
[email protected] – (203) 776-7776

For Pace University- press inquiries, contact:
Chris Cory, Director of Public Information
[email protected] (212) 346-1117

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