TransCard Wins Best-in-Category Paybefore Award for U.S. Xpress Card Program

CHATTANOOGA, Tenn.--(EON: Enhanced Online News)--TransCard (www.transcard.com) – a leading provider of prepaid debit card solutions branded with Discover® Network, MasterCard® and STAR associations – won the coveted Best-in-Category designation at the third-annual Paybefore Awards. Announced last week in Orlando, Florida, TransCard earned the top overall award for the Best Corporate-Funded Prepaid Card in the development of a dual-purpose fuel and pay card for U.S. Xpress Enterprises, Inc., one of the nation’s largest truckload carriers.

“This card has become invaluable to our drivers”

“TransCard's U.S. Xpress program was chosen best in category for its elegant, well thought out solution to solving multi-fold challenges for the trucking company and its drivers,” said Marilyn Bochicchio, Paybefore CEO and one of five experts who judged the nominations. “It provides a convenient way for drivers to access their pay while they’re on the road and offers financial management tools including bill pay. In addition, the program is an efficient, cost-effective way for U.S. Xpress to pay its drivers and, importantly, fund and manage fuel purchases.”

The Discover Network-branded, dual-purpose card solves multiple logistical issues that occur in the transportation industry, including:

• Distribution of payroll. Drivers are located in 48 states and parts of Canada.
• Turnover. Trucking companies experience 80 to 140% turnover rates. Consistent, dependable pay and settlement are expected by the drivers and can go a long way toward developing employee loyalty and driving retention.
• Number of employees. U.S. Xpress has more than 10,000 drivers around the country who are a part of 60 separate fleet operations and pay scales.
• Distance. Drivers are remote, and thus transfer a large percent of their pay to their families at home.
• Financial management. A significant percent of drivers are independent contractors and thus are responsible for paying their bills and managing their own businesses. They must pay their bills and control and track their payments and cash flow.
• Access. Pay is inconsistent and fluctuates on a weekly basis. As such, it is imperative that drivers have easy access to their current balances and are notified when their funds are posted.
• Location. Truck drivers have irregular routes and inconsistent locations; because of the unpredictability and dynamic nature of the industry, it is very difficult for fleet operators to project where drivers will be located on their pay days.
• Multiple cards. Drivers are responsible for purchasing fuel, tires and maintenance expenses while on the road. Before the TransCard dual pay and fuel card, they were required to carry two cards — one for company expenses and one for payroll.

“This card has become invaluable to our drivers,” says Patrick Quinn, Co-Chairman of U.S. Xpress Enterprises, Inc. “Not only does it provide drivers with a guaranteed method for receiving their wages regardless of their location on pay day, but it also allows drivers to transfer money to their families that same day via the Internet, over the phone or even on their mobile devices. You take what had once been a very large obstacle and turn it into a value-added proposition.”

TransCard worked with multiple partners to create a unique technology platform that maintained the integrity of the program while encompassing core requirements — such as seamless back-end integration with U.S. Xpress legacy systems, GPS fraud alerts, BIN-based routing inside vendor locations, level III data collection and real-time employment verification. Our IT department built the technology platform for these cards from the ground up, allowing these cards to function in a dual-purpose, multi-pocket method.

“The difficult challenges that are specific to the transportation industry could only be solved through cutting-edge technology that was custom built by us using technology that has only existed for three years,” says Craig Fuller, CEO of TransCard. “We are excited this card has achieved such success. Now that we have a proven track record of using sophisticated technology to meet specific customer needs, we will be intimately involved in creating new technology platforms and look forward to rolling out comparable card programs to other industries with similar issues.”

Discover Network worked aggressively to get this dual-purpose card program up and running and was a key component to the program’s success.

“This is the first open and closed loop, multi-purpose prepaid card issued on the Discover Network and is a great example of innovative technology and strong partnerships solving real world problems,” said Farhan Ahmad, General Manager of Prepaid and Director of Emerging Payments at Discover Financial Services. “We look forward to even more opportunities to leverage the capability of the Discover Network to develop solutions that meet the payment needs of many other markets and industries.”

About U.S. Xpress Enterprises, Inc.

U.S. Xpress Enterprises, Inc. is the nation’s third-largest privately-owned truckload carrier, with a fleet of 8,500 tractors and 26,000 trailers. U.S. Xpress Enterprises, Inc. provides dedicated, regional, and expedited team truckload services throughout North America, with regional capabilities in the West, Midwest, and Southeastern United States. The Company is one of the largest providers of expedited and time-definite services in the truckload industry and is a leader in providing expedited intermodal rail services. Xpress Global Systems, Inc., a wholly owned subsidiary, is a leading provider of transportation, warehousing, and distribution services to the floorcovering industry. The Company participates in logistics services through its joint ownership of Transplace, an Internet-based global transportation logistics company. Additionally, U.S. Xpress has a 90% ownership interest in Arnold Transportation Services, Inc., which provides regional, dedicated, and medium length-of-haul services with a fleet of approximately 1,650 trucks, and Total Transportation of Mississippi and affiliated companies, a truckload carrier that provides medium length of haul and dedicated dry-van service with a fleet of approximately 650 trucks primarily in the Eastern United States. U.S. Xpress also has a majority ownership interest in C&C Transportation of Duncan SC, a truckload carrier providing transportation services along the Mid-Atlantic, Northeast and Southeast corridor with a fleet of 150 trucks. Additionally, U.S. Xpress has a minority ownership interest in Smith Transport, a truckload carrier that provides medium length of haul and dedicated dry van truck services, primarily in the eastern United States with a fleet of approximately 850 trucks and 3,000 trailers. To learn more about U.S. Xpress, visit our website, www.usxpress.com.

About Discover Financial Services

Discover Financial Services (NYSE: DFS) is a leading credit card issuer and electronic payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover Card, America's cash rewards pioneer, and offers student and personal loans, as well as savings products such as certificates of deposit and money market accounts. Its payments business consists of the Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in 185 countries and territories. For more information, visit www.discoverfinancial.com.

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.