PenSoft partners with InterceptEFT® to offer payroll cardsNewport News, Virginia (March 28, 2007) - Peninsula Software of Virginia, Inc. (PenSoft®) is now offering its clients and payroll providers another convenient payroll solution - payroll cards. The payroll cards are made available through a strategic partnership with InterceptEFT, Fargo, ND.
Payroll cards are an emerging form of wage payment designed to benefit part-time or seasonal staff, student employees, contractors, people without access to Visa® purchasing power and those who currently do not utilize a bank.
The cards feature the VISA® logo, providing acceptance at millions of merchants and ATMs worldwide. The payroll cards are reloadable and employees are able to allocate all or a portion of their earnings to the card, providing more options for saving earnings.
"We continually strive to better serve our clients and offer additional payroll options for their employees," says PenSoft President and CEO Leroy Newman. "Payroll cards are convenient, affordable, reliable and flexible, plus they provide our clients with a new solution to address the needs of a more diverse workforce."
Payroll cards are similar to debit cards. Each payday employers may add new funds to the payroll card to be used by employees for purchases, ATM withdrawals and electronic transfers. Payroll cards are not intended to replace direct deposit for those employees already linked to a financial institution.
Bryan Smith, president and co-founder of InterceptEFT, says payroll cards have been very successful for many businesses, and they will provide PenSoft clients another valuable service for payroll solutions. "InterceptEFT is dedicated to developing new and convenient products, and payroll cards will be a welcome option for many employers and employees," says Smith.
PenSoft develops payroll software for small to mid-sized businesses and payroll service providers. It has more than 5,000 customers in all 50 states and US territories. Fargo, N.D. based InterceptEFT is a national leader in payment-processing services and software. It processed more than 30 million transactions in 2006.