Columbus Data Services has introduced a new program called the Employee Personal Spending Prepaid Maestro® Card (PayNGo). More employers are increasingly looking for ways to reduce their costs and our new PayNGo card program will provide that benefit at no charge while even saving the company money. The elimination of paper paychecks is one opportunity for cost reduction since many employers have employees that don't have the traditional banking relationships that are needed for direct deposit.
The combination of these facts are driving employers to provide their "unbanked" employees with the benefits of paycards, while at the same time, reducing their internal payroll and administrative costs. Columbus Data Services
is dedicated to being the leading paycard provider in the industry by enabling paperless pay for employers while providing employees a safe, convenient and cost-effective alternative to receiving paper checks.
Payroll cards are a cost effective alternative to printing, cutting, and mailing paper payroll checks. The PayNGo payroll card is reloaded with the value of the employee's wages, allowing the cardholder to use the card at ATM or POS terminals.
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Benefits for the Employer
- Reduce costs associated with bank processing fees and check handling fees
- Reduce check printing costs and likelihood of check fraud
- Reduce check reconciliation costs
- Eliminate lost /stolen check replacement costs
- Maximize direct deposit participation
- Streamline administrative responsibilities
- Available dedicated resources for implementation
- Turnkey program setup and management
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Benefits for the Employee
- Reduce monthly costs for check cashing fees
- Convenient to use (easy access to funds)
- 24-hour access to funds via ATM’s; no need to wait in line to cash checks
- Use at millions of retail locations where you see the Maestro acceptance mark.
- Reduce the need to carry a lot of cash
- Makes sharing funds easy
- Very reliable and secure
- Funds accessible at more than one million ATM's worldwide.
- Money available on time every payday
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Summary of Benefits
- Employers can dramatically decrease internal payroll costs
- Cost effective alternative to printing, cutting and mailing paper payroll checks
- Convenience and the elimination of check cashing fees for employees
- Transmit payroll electronically to employee card accounts
- Avoid costs associated with lost or stolen checks
- Process is similar to current direct deposit to banked employees
- Employees have internet access for card balance and activity inquiry
- Turnkey program setup and management
- Employees have 24 hour access to funds via ATMs
- Use at more than one million ATM's worldwide.