Payroll card provides significant cost savings for employers.
Madison, WI (PRWEB) July 27, 2005 -- USA Paycard, Inc., a leading provider of payroll disbursement products, today announced its release of its PayCard", a prepaid credit card that takes the place of the traditional payroll check. The PayCard can be used in several ways, including regular pay, expense reimbursement (Per-Diem payments), commission payments, bonus or reward payments, paying employees who work off-site, termination payments, payroll adjustments and other one time payments.
This payroll card allows employers to use direct deposit for employees who lack a traditional banking relationship. This translates into lower payroll check processing costs – an average of $48 per employee, per year according to a 1999 NACHA study.
Each participating employee receives a prepaid payroll credit card serving as their paycheck, good at over 1 million ATMs and merchant locations nationwide and everywhere MasterCard is accepted. Employees are no longer hassled by excessive check cashing costs, trying to find a check cashing location, wasting time waiting in line or losing their payroll check – and theres no qualifying, so every employee gets a card.
Using the PayCard is the next logical step for companies seeking to reduce the time spent and the associated costs of payroll processing" said Jason Wacker, President of USA Paycard. Plus, the card improves the financial lives of their employees. Its a win-win situation for everyone."
USA Paycard, Inc. and its partners handle the card set up, customer service and transaction processing. Additionally, USA Paycard assists employers with employee solicitation, sign-ups, and answering any card related questions. There are no employer costs to the program and the cards can be used by employees for free using the cash-back" option at retail POS locations.
About USA Paycard, Inc.
USA Paycard was founded and is headquartered in Madison, WI servicing businesses nationwide. Our mission is to provide our cardholders with a premium product at an affordable price. Our goal is to put the best payroll card product in the hands of the people who need them. The PayCard itself is issued by Genpass Card Systems, a national diversified, electronic payments processing company. The company is the second largest terminal processor in the U.S. driving more than 28,000 ATMs and is the sixth largest switch processor with 360 million transactions annually. For more information visit www.usapaycard.com.
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