ICM Telecommunications Launches 1st Financial Payroll Card Program

Tuesday 4 May 2004 11:06 CET | News

ICM Telecommunications has launched a 1st Financial Payroll Card Program that is being offered through its prepaid debit platform. The company said experience shows it will be of substantial benefit to both employers and their employees.

Costs and time for payroll distribution are decreased. Direct deposit participation is maximized, as well as simplification in reconciling bank accounts. At minimal cost, more benefits are offered to unbanked employees, as the program also eliminates stop payments on lost checks as well as paper processing of checks, and check fraud is reduced. Additional employer benefits, include easy integration of the program with the existing payroll, higher employee loyalty and retention, and elimination of problems associated with employees in multiple geographic locations. There are equally compelling advantages for employees, including funds immediately available on payday, the elimination of check cashing fees and long lines to cash checks. Greater safety is also offered since the employee does not need to carry large sums of money, and has the security of a PIN-protected card. Employees can use the card to make purchases, eliminating the need for money orders or cashiers checks, or carrying around a large amount of cash. The cardholder also can make withdrawals for cash at ATM machines. ICM Telecommunications is the exclusive distributor of debit instruments for 1st Financial Solutions, which is in partnership with Sutton Bank. That banks status as a premier card issuing financial institution permits our customers all the benefits of other ATM debit cards. A MasterCard logo can be added to the Payroll Card on request by the employer, to allow usage anywhere MasterCard is accepted worldwide. In fact, the estimated total number of financial institutions, ATM locations, and virtually all retail establishments, gives card users several hundred thousand places where their cards will be immediately acceptable and honored.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce

Industry Events