Financial Technology Simplifies Payroll Cards for Any Business

Next generation Visa Payroll Card achieves 100% digital pay for business in minutes

Mountainside, New Jersey and Scottsdale, Arizona (BUSINESS WIRE) — July 19th, 2013. FlexWage Solutions opened up immediate payroll card accessibility for small to medium sized businesses via their employer-enrollment center at www.paycardsnow.com.  Virtually all businesses can enroll their companies and respective employees in minutes.

“This service fills an immediate void and is in response to employer demand for a rapidly deployed, simple to use and extremely low cost payroll card,” explained Frank Dombroski, FlexWage CEO.  “We have engineered a solution that allows any business to get cards in the hands of the underserved or unbanked employee in just a few days.”

“Our solution takes the pain and archaic application process out of the equation, permitting the employer to enter that data online, starting the compliance process in minutes and getting cards ordered immediately,” said Dennis Sullivan, Vice President of Product for FlexWage.  “The FlexWage Payroll Card gives employees access to their compensation via direct deposit on payday, allowing employers to be free of paper paychecks and achieve 100% electronic pay.  Employers may also add funds spontaneously via the portal to instantly disburse achievement bonuses, per diems, expense reimbursement and dozens of other needs between paydays.”

When asked if this new enrollment portal would also include FlexWage’s WageBank, Sullivan added, “Yes, we encourage any employer who also wants WageBank to signup via www.paycardsnow.com, and they’re customer experience manager will enable that feature for them.”

“The FlexWage payroll card, when combined with interest-free WageBank, frees a large demographic from visits to check cashing stores, payday lenders or needing payroll advances.” added Dombroski.  Pew Research indicates 12 million Americans used a payday loan in 2010, the last year of substantive data.  Of those 12 million, borrowers averaged eight loans of $375 and paid $520 in interest on the same $375.

 

About FlexWage Solutions LLC
FlexWage is dedicated to improving financial access and well being for the unbanked and underserved populations, benefiting workers, employers, and their surrounding communities. Our solution offers an outstanding pay card program, supercharged by WageBank.  WageBank interfaces with employer payroll and time & labor systems to provide employees with access to accrued wages, helping American households avoid the debt trap associated with using high-cost lending alternatives. FlexWage Solutions is based in Mountainside, New Jersey.  For more information on FlexWage Solutions, please visit FlexWage.com, find us on Facebook at Facebook.com/flexwage, or follow us on Twitter @flexwage.

More information on the Pew’s Small Dollar Loans Research is available at:

http://www.pewtrusts.org/our_work_report_detail.aspx?id=85899406010