Adoption of Paperless Payroll Services Grows as Functionality is Offered Through Coinstar Centers

Wednesday 4 February 2004 18:03 CET | News

Coinstar plans to expand access to electronic payroll services from FSV Payment Systems (FSV) to nearly its entire 10,000-plus-machine network.

Electronic payroll functionality is currently available at approximately 1,000 Coinstar Centers in supermarkets across the country, and by April of this year, most Coinstar Centers will be enabled with wage statement and balance inquiry features. Employers offering FSVs PAYCHEK PLUS payroll debit cards to employees also benefit from convenient and cost-saving payroll services, including ePayStub wage statements, payroll debit card balance inquiries, and payroll cash vouchers -- available exclusively through Coinstar Centers and FSV. By fall of 2004, FSV expects to have three hundred thousand employees enrolled in payroll debit card programs through their employers. Payroll Debit Cards are growing in popularity, especially among employers with large workforces that may be geographically diverse, have high turnover, or an employee base without access to bank accounts. In the United States, the Federal Reserve Board Survey of Consumer Finances (2001) reported that approximately 13 percent of families did not have a checking account. According to a 2003 American Payroll Association (APA) survey, industries most likely to adopt payroll debit cards include manufacturing, retail, supermarket, quick serve, restaurant, hospitality and service. FSV customers with workforces in excess of 5,000 that are currently rolling out these new payroll services include Bahama Breeze, Del Taco, Eat n Park, Goodys, Greyhound, Olive Garden, Pomerantz, Red Lobster, Talent Tree, Westaff, and University of Illinois.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce