Page 14 - Pay Magazine s2014

pay awards
Outstanding Pay sOlutiOn
Best use of a prepaid card by an employer for payroll distribution.
Money Network Payroll Distribution Service for Walmart
Walmart, First Data partner: MetaBank
what it is: Payroll card program o ering
1.3 million Walmart and Sam’s Club store associates a convenient, secure and cost- e ective method for receiving wages electron- ically via a MasterCard-branded prepaid card.
why it works: The largest electronic payroll delivery service in the U.S., Money Network emphasizes employee choice and access to wages, along with low-cost money manage- ment. Wages can be loaded directly onto the card, which can be used to make purchases wherever debit MasterCard is accepted.
why it matters: Bene ts store associates by eliminating the hassle and cost of cashing paper checks and o ering a widely accepted electronic payment and money management
tool. Wages can be cashed out to the penny at all Walmart and Sam’s Club POS terminals, as well as banks nationwide. Program has helped Walmart signi cantly reduce paper check volume and pay more than 95 percent of employees electronically.
differentiators: Free ACH transfers to personal bank accounts, free POS reloads, secondary cards for family members, promotions such as gasoline discounts. The Money Network Mobile App o ers account information and noti ca- tions, a Piggy Bank feature for setting money aside and bill pay. Card accounts remain open and usable even after employees leave.
what the judges said: This is not the rst time in the spotlight for this Best-in-Category winner, which o ers employees the ability to access funds in multiple ways for free, commu- nication that supports fee-free use and value-added bene ts.
Card o ers no-fee funds access, tips for avoiding fees, full-featured mobile app, and gas discounts at Walmart and Sam’s Club.
12
winners
Focus Card
U.S. Bank
Royal Caribbean Salary@Sea
Citi Prepaid Services, Royal Caribbean
prepaid