Calnet Delivers Payroll Solution

Wednesday 16 June 2004 07:07 CET | News

Calnet Business Bank has introduced a new Cash Card System solution, the new solution is built on the Calnet Business Bank Services (CBBS) platform.

Gone are the days of generating and distributing payroll checks. Calnets Cash Card uses a bank- issued debit card to automate the payroll process, reducing paper, minimizing check-related fees and improving security. A New Form of Checks and Balances Calnets Cash Cards are loaded with an employees payroll at each pay period through their employers authorized electronic transmission. Employees then have immediate and convenient access to their funds at retail and ATM locations worldwide. Each Cash Card can be used by an employee as a debit card and is simply reloaded each payday. Cash Cards are: - Safe and secure: The cards require a PIN or signature authorization to protect against fraud and theft. In addition, all Cash Card accounts are FDIC-insured and Regulation E-compliant. The cards also reduce the risk of errors associated with traditional payroll processing. - Cost effective: The cards save hours of administration time and reduces the costs associated with issuing cash or checks. - Easy: Authorized staff can service employee accounts online. The cards can also be used to automate and integrate additional payment types, such as bonuses, commissions and expense reimbursements. - Widely accepted: Like ATM cards, Calnets Cash Card is accepted by most ATM networks and through select retail locations. Built on Innovation The foundation for Calnets Cash Card System -- the CBBS platform -- was built using the Unified Transaction Model(TM), which makes it simple to automatically generate all information associated with a monetary transaction. Every item in the system has its own transactions that can be linked to it. Now, the manual processes required to collect the disparate bits of information tied to a transaction is no longer required. Calnets platform automates the process, so customers never lose control of the information tied to their transactions. Banking on Trust Calnet offers something that no other financial services technology company can - the trust and security that comes from working with a bank. Calnet customers have full access to all the typical banking functions, in addition to the most innovative financial technology available. This foundation of banking expertise allows Calnet to anticipate the needs of its customers in the financial services industry and to become a seamless part of their financial operations. Furthermore, like other banks, Calnet is fully regulated, so customers know that when they need Calnets support, they will be there.

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Categories: Payments & Commerce | Payments General
Countries: World
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