gives corporations a new way to dispense salary and incentive pay. The Pittsburgh bank's move represents a novel twist in the staid world of ATM cards. Unlike organizations that have tried to extend ATMs' functions by having them dispense postage stamps, movie passes, or other products that retail customers want, Mellon opted to turn the ATM into a corporate banking tool. "The corporate ATM card is a new way to make disbursement easier for companies and their employees," said David Johns, general manager of Mellon Network Services, the bank's transaction processing subsidiary. The new product is also expected to generate several million dollars in annual revenues within five years for Mellon, which will process all the ATM and debit transactions for the card, charging a small, undisclosed transaction fee. Corporations would issue the cards to their employees, who could use them to withdraw funds from designated ATM accounts or as debit cards at the point of sale. Mellon provides ATM access for the new product through Cirrus, MasterCard's network of more than 220,000 ATMs in 69 countries. Mellon officials said they believe no other bank has offered such a product. Several Fortune 500 companies have already signed on for the service, they said. But at least one banking consultant who otherwise advocates extending ATM functionality was unimpressed with the new product and questioned its viability. "I think ATMs for corporate purposes is a stretch," said M. Arthur Gillis, president of Computer Based Solutions Inc., New Orleans. "I think it's taking a nice retail product that's done a good job giving retail customers convenient banking options and trying to turn it into something else that's already better handled by our existing payment mechanisms."

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