Preferred PayCard and TransCard Are Giving Employees More

CHATTANOOGA, Tenn.--(EON: Enhanced Online News)--TransCard (www.transcard.com) – a leading provider of prepaid debit card solutions branded with MasterCard®, Discover® Network and STAR associations – and Texas-based Preferred PayCard, LLC, have partnered to keep more cash in employees’ wallets thanks to payroll debit cards.

“As a fellow Baylor alumnus, there was an immediate connection and synergy between myself and Robert, as well as between our two companies”

Employees no longer have to pay exorbitant check-cashing fees and have access to many value-added cardholder benefits, including online bill pay, a comprehensive Personal Financial Management tool and free credit scores.

“We want to give traditionally disenfranchised employees the ability to do the things most people take for granted, like making online purchases and paying their bills online or over the phone using a debit card,” says Robert Bond, President & CEO of Preferred PayCard, LLC. “Not only are these prepaid debit cards advantageous to employees, they also save employers huge expenses that come with cutting, printing and mailing paper checks. Prepaid PayCards are a win-win solution for every organization.”

Preferred PayCard is extremely active in various organizations within the human resources industry, such as the American Payroll Association and the Texas Association of Staffing. The company attends tradeshows year-round and enjoys the opportunities these shows provide to meet people both within their specific industry and outside of it, which is how TransCard and Preferred PayCard began their business discussions.

“As a fellow Baylor alumnus, there was an immediate connection and synergy between myself and Robert, as well as between our two companies,” says Craig Fuller, CEO of TransCard. “Since both of our companies are based in the South, our cultures are also regionally aligned—leading to a great working relationship. Besides looking forward to a long and prosperous partnership together, all I can say is, ‘Sic ‘em, bears!’ ”

About Preferred PayCard

Preferred PayCard, LLC (www.preferredpaycard.com) is recognized as an authorized MasterCard provider specializing in payroll debit card programs; facilitating the electronic wage distribution, 1099 disbursements and financial reimbursements with PayCard ancillary value-added programs that provide additional cardholder and employer benefits. Executives of Preferred PayCard have significant history and business experience serving Financial Institutions, banking and credit union markets since 1982. The PayCard staff members highlight their commitment to superior client service.

Preferred PayCard serves the payroll disbursement requirements of multiple business and industry sectors that include convenience stores, food and beverage, hospital, community development, and retail and staffing organizations. Member Chapters of the American Payroll Association recruit Preferred PayCard trainers to provide an overview of the implementation of the PayCard program, providing an insight into the documented employer economic efficiencies and ease of implementing a payroll debit card program.

About TransCard

TransCard (www.transcard.com) is a top ten, stored-value processor and a global provider of transaction-based processing services. TransCard has provided stored-value processing services since 1993 and pay card products beginning in 1996. TransCard differentiates itself in the prepaid card industry by offering compliant solutions, real value, proprietary technology, mobile card management and stability. Its products include pay cards, financial institution stored-value processing, gift reward cards, fleet services and retail program management. TransCard handles nearly $2 billion in electronic transactions annually and was featured as a “10 to Watch” by Intele-Card News. We were recently named as a 2009 Paybefore Awards Best-in-Category Winner for the Best Corporate-Funded Prepaid Card.