Customer centric PayCard providerNo cost to the employer all cards and materials are FREE when ordered and/or as neededAlways free 24/7/365 customer support & service before, during and ongoing thru live operator, IVR, on-line and textFee Schedule that promotes acceptance & usage by employeesThe rapid! PayCard has more pay to the penny access points for the employeeWe never allow the card to overdraft charging the cardholder excessive feesAlways an instant issue Visa branded card which means our program is compliant in all 50 states. Portability – employee can use at another job or for reloading and eliminates problems with termination paymentsCustomizable card, carrier, marketing materials and roll out planCard Linking for lost/stolen card (non-event for employer)
Going Paperless in Payroll
Streamlining the Payroll Process Be a Hero in 3 Easy Steps Save Time and Money by Going Paperless Michael Johnson| Presenter Vice President of ePayments firstname.lastname@example.org | 1-800-777-7359 www.relyco.com
What is Going On?• A new survey of 50 of the nation’s largest banks finds that basic banking costs jumped in just about every category in 2012.• The minimum amount required to open an account jumped• The higher this minimum becomes, the more poorer customers may be forced to go un-banked• Monthly service fees also increased• Overdraft fees increased• Why: Durbin Amendment restricting the amount a bank can charge a retailer on swipe fees• Banks are for profit and need to increase revenue – fees are their source
More News• According to a Bloomberg Businessweek article 2013 is shaping up to be a rough year:• low growth, persistently high unemployment, and huge amounts of debt• the monthly trade deficit in manufactured goods to a record• Today’s monetary situation is more difficult• U.S. exports fell more “No matter who wins the election, from a truly economic standpoint, 2013 will be an extremely challenging year,” says David Rosenberg, chief economist at Gluskin Sheff + Associates.
Reality: The End of Paper Checks• The Federal Government is phasing out paper checks for all benefit programs - 73 million payments a month• More than 76% of individual tax refunds were delivered via direct deposit in 2011• More than 68% of Corporation are writing less checks• Consumer moving rapidly to paperless payments and statements – Where is your checkbook?
By The Numbers90% 81%80% Paper Checks70%60% 57%50%40%30%20%10%0%
The CostsHow much does it cost to reprint the average taxdocument? $10.00 - $25.00What is the average cost per document toproduce and distribute pay checks or directdeposit advices? $ 1.90On average, how many times is a pay stubor check touched before it reaches theemployee? 9 times
The SolutionPayroll Cards - Online Paystubs W-2s & 1099s
Potential Cost Savings to the Employer Save Time • Check delivery (manager/employee time) • Adjustments and other off-cycle payments • Termination pay/Lost/Stolen replacement • Escheatment - the process of identifying customers deposit and accounts that are considered abandoned Reduce • Number/frequency of paper checks • Pay stub production/delivery • Bank fees • Fraudulent check losses
Employee Benefits• Employees will never be hassled by cashing a check again…• Employees will not waste time picking up and cashing checks• Notify employees by Text Message when their pay is available• Employees can make purchases on payday and over the Internet• Allow for Instant Issue Branded Visa cards on date of hire• Worldwide locations to access money - 43,000+ locations • All Point and Money Pass Networks • Surcharge free ATM access• Visa Branded Card with no overdraft• and More…….
Employee Benefits• Easy bill payments• Easy transfer of money from card to any bank• Cash back available when using the card• Text Message Alerts• Financial tools
EmployeeFinancial Tools Cash Access Money Movement ATM ACH Transfer to a Bank Account PIN Debit Cash Back Card to Card Transfer Money Orders OTC Cash Advance Money Management Interest Savings Purchases & Payments Account Access Signature Debit Automated Response Phone PIN Debit Consumer Web Portal ChekToday ATM Inquiry Request a Check SMS Text Alerts Bill Payment 24x7 Live Agents
Why - rapid! Payroll CardPositive EMPLOYEE Experience:• Always free 24/7/365 customer support & service thru phone, on-line and text• The rapid! Payroll Card has more pay to the penny access points for the employee• We never allow the card to overdraft charging the cardholder excessive fees• Always an instant issue Visa branded card - compliant in all 50 states.• Portability – employee can use at another job or for reloading and eliminates problems with termination payments• Fee Schedule that promotes acceptance & usage by employees
Why - rapid! Payroll CardPositive EMPLOYERExperience• No cost to the employer all cards and materials are FREE when ordered and/or as needed• Customizable card, carrier, marketing materials and roll out plan• Card Linking for lost/stolen card (non-event for employer)•Developing and implementing long-term strategy andsupport• A PayCard program that employees view as a benefit• A effective deployment strategy• Ongoing support and communication
Successful Payroll Card ProgramEmployee Training and Education isCritical for Adoption!Must Provide…• Payroll Card Education• Training on Use• An Employee Satisfaction guide
Coming Soon: Mobile ApplicationCardholders can access their cardaccounts on their iPhones® or AndroidTMpowered devices. The first generationfocuses on the following standardaccount maintenance functions:• View current balance• View recent transactions• View transaction details• Transfer fund• Enroll & Manage Text Alerts• Locate an ATMThe cardholder will have direct access to manage their money when on the go. The application providesa secure means to perform the most commonly used account maintenance functions as well as providesquick access to value added features such as finding ATM locations.
Solution Profile • Penmac Staffing Services, Inc. – Woman Owned • Employees: 20,000 every year • Locations: 30 Offices in 11 statesCarmen Rost, Payroll • The Challenge the cost both in dollars andManager “We were environmental resources—to get people paid eachamazed at the level ofresources used to week - Can’t wait for a paycheck to arrive in the mail -deliver payroll each employees drive to our offices to pick up theirweek”, paycheck - led to literally hundreds of thousands ofPenmac was paying75% of their workforce dollars in lost billable time, inefficiencies or expensevia paper check with not to mention lost wages for our employees.the • The Solution Rapid Payroll Cardsremaining on directdeposit. • The Benefits • Eliminated almost all checks • 98% Direct Deposit • Save $100,000 a year
Solution Profile Richland School District Two Columbia, South Carolina Students: 24,000+Ashley Bruton, Employees: 4,000+Manager ofMarketing The Challenge | Cut the 1.5 Day timeframe and associated costsCommunications of handling paper pay stubs each semi-monthly period.for RichlandTwo, has Reduce paper as much as possible in all business processes .estimated thereduction in The Solution | DocAgent - Pay Stubs Online secure document portal.paper from justthis single The Benefitsapplication will •Processing time reduced to 2.5 HOURS vs. 1.5 DAYSsave around 24 •Employee self-service 24 x 7 x 365trees a year. •Postage savings of $2,600 per month •Saves 24 Trees each year
Possible Next Steps• Request DocAgent Demo• Plug Your Numbers into ROI Calculator to See How Much You’ll Save• Easy Implementation • Request Additional Information – Agreement – Rate Schedule • Sign up for Rapid Card Program! • Get Started Right Away!