Payment processor First Data has developed a new prepaid payroll solution in partnership with US software and payroll services company Sentric.
The BRIO Card aims to reduce the volume of paper pay checks and statements issued to the 200,000 people employed by Sentric’s payroll clients.
“In addition to our traditional direct deposit service, our clients can offer their employees, those with and without bank accounts, immediate access to funds on pay day without a fee and with the added convenience of accessing their cash at thousands of locations nationwide using their BRIO Card,” said Mike Maggs, CEO at Sentric.
The prepaid BRIO cards will make workers’ funds available across the MasterCard networkincluding stores, online and over the phone.
“Users can manage their accounts with features such as checking their account balance online and by phone; receiving balance updates via text or email; and loading funds from various sources including a second job, child support and government benefits, ” said Mark Putman, senior vice president, Prepaid Solutions, First Data.
“Our clients, especially those who share our vision for environmental sustainability, can now offer every employee a green option for receiving their wages on pay day,” completed Maggs.
Sentric supplies thousands of middle-market organisations across the US with cloud-based personnel management software. The platform includes payroll, human resources, and time and labour management solutions.