Debit Payroll Cards
Debit Card With Hispanic Appeal
December 11, 2003
NEWTON, NJ -- Fully 35 percent of all U.S. residents do not have banking relationships, and a large majority of the so-called "unbanked" are Spanish-speaking, according to CR Wolters Financial Access Systems.
CR Wolters (www.crwolters.com), through a strategic business alliance with First Card Resources, is offering its Payroll Debit Card program to Spanish-American businesses. The debit cards allow users access to their incomes at any time at ATM machines and to purchase goods at any store that honors debit cards.
In addition to making check cashing safer and easier, CR Wolters said that the card also simplifies transferring funds to relatives, such as teenage or college-age students at home or abroad. Additional cards can be issued for this purpose and are preloaded for designated dollar amounts by the cardholder. Funds can then be transferred from one card to another via a password-protected Web site or a toll-free Interactive Voice Response Unit (IVRU). The company noted that cost for transferring funds with the debit card is less than with traditional means, such as wire transfer.
CR Wolters said the Payroll Debit Card programs also can save employers money by reducing payroll distribution costs and risks. The cards are especially useful for part-time or seasonal workers, according to the company.
The company is now implementing debit-card programs for a number of major retailers. Cards can be imprinted with a company's name and logo, and they can be issued with Visa or MasterCard branding.
"Our Payroll and Retail Debit Card programs can be of tremendous benefit to Spanish-speaking people in the U.S.," said company President Craig Wolters. "They not only help employers and their employees distribute and gain access to income, but also provide a service advantage to those active in retailing within this economically significant community."
Posted by Craig at December 11, 2003 02:52 PM