PayrollAmerica Announces PayCard Release

PayrollAmerica, a leading payroll service bureau, announces the release of PayCard - a revolutionary pay tool that serves employers and employees with a versatile way to be paid.

Boise, ID, September 23, 2005 --( PayrollAmerica has announced a new addition to its product offering. PayCard, offered through Genpass, is a debit card that has the functionality of a bank account without the need for checks. PayCards can be used to purchase items or pay bills, and are accepted anywhere that accepts MasterCard or pin debit cards.

The PayrollAmerica PayCard provides a variety of benefits. All or part of an employee‘s pay is directly deposited onto the card by the employer. Use of the card eliminates check cashing fees, and provides an electronic record of use. Though a small set up fee applies, there are no monthly or annual fees, no minimum balances required, and no deposit fees.

Chris Barrera, Director of Operations for PayrollAmerica explains the value of the Pay Card. “The true value of the PayCard is in its versatility; it allows users who would not otherwise be able to take advantage of the benefits of a checking account and debit card to have access to those benefits.”

The versatile PayCard is ideal for those with teens needing a set spending limit, kids away at college, or as a method of managing spending money. Additionally, rather than using expensive money transfer services, PayCard users can transfer money internationally for a minimal transaction fee. Users can also check the balance of their card free of charge by either logging onto their account via the Internet or calling a toll free customer service number.

Breaking It Down
For those who customarily use check cashing agencies, using the PayCard can save a substantial amount of money. Consider the example of an individual cashing a $300.00 paycheck.

Check Cashing Agency
3% fee = $9.00 per paycheck
$234.00 in yearly fees (if paid biweekly)
$468.00 in yearly fees (if paid weekly)

$2.00 flat fee per paycheck
$52.00 in yearly fees (if paid biweekly)
$104.00 in yearly fees (if paid weekly)

*Savings with PayCard = $182.00/year if paid biweekly and $364.00/year if paid weekly.

A low-cost, easily implemented money solution, PayCard provides value, flexibility, and end-to-end support. As Barrera notes, “PayCard is a win-win situation for employers and employees. Using PayCard reduces an employer’s processing expenses and reduces the risk of fraud. Employees enjoy the convenience, value and ease of use.” For more information on PayCard and how to implement it for your own business, please contact PayrollAmerica.

PayrollAmerica is a full service payroll bureau offering state-of-the-art payroll, flex-benefit, and recruitment solutions.

Contact Information

3219 Elder Street
Boise, ID 83705
(208) 489-7600
(800) 375-8997

Chris Barrera, Dir. of Operations
(800) 375-8997