Independent Contractors Enjoy the Many Benefits of Prepaid Cards with TransCard!

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—has teamed up with Contractor Management Services (CMS), the nation’s leading Third Party Administrator, to offer the benefits of prepaid cards to their independent contractor members. By implementing prepaid cards, CMS will eliminate the need for paper checks and distribute all payments electronically.

“We are excited about the opportunity to work with an industry leader like CMS, and we look forward to providing CMS with future solutions that continue to increase productivity and, ultimately, achieving the most successful partnership possible.”

“Moving from a paper-based commission system to a prepaid card program just makes better business sense,” says Dennis Roccaforte, President of CMS. “This allows us to offer our clients reduced funding times, which can help them manage cash flow in the current financial environment more efficiently. It’s also a better way for our members to receive their commissions, as the cards will already be in their hands each commission period. We no longer need to send out checks across the United States. This program significantly improves our overall efficiency as a business while allowing us to offer added benefits to both our members and clients.”

Prepaid cards also offer many value-added cardholder benefits, including:

• Online Personal Financial Management system
• Online bill pay
• Free credit scores
• SMS text messages for account balances and spending alerts
• Mobile banking

“At TransCard, we see ourselves as an extension of our clients’ business model; we are here to provide the solutions they need to execute their specific visions,” says Jerry Uffner, President of TransCard. “We are excited about the opportunity to work with an industry leader like CMS, and we look forward to providing CMS with future solutions that continue to increase productivity and, ultimately, achieving the most successful partnership possible.”

About CMS

CMS (www.ICtheRightWay.com) is the nation’s leading Third Party Administrator whose proven track record offers solutions to the many challenges associated with the use of Independent Contractors. CMS provides a full line of services designed to support a company’s administration, while offering a variety of services to reduce the liability, costs and headaches of dealing with the administration of Independent Contractors. Their comprehensive services also include Risk Management, Financial Security, Technology, Insurance, Informational Resources and Discount Programs for Independent Contractors.

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. The company was recently named as a 2009 Paybefore Awards Best-in-Category Winner for the Best Corporate-Funded Prepaid Card.