Generate Capital Internally While Offering Employees Benefits

Online, February 26, 2010 (Newswire.com) - Think Capital Advisors now offers turn-key payroll paycard solutions. Think Capital's business strategy solution allows companies to generate capital internally while simultaneously expanding employee benefits.

What is a paycard?

A paycard is a practical and cost effective method to pay unbanked employees electronically. A paycard allows employees to access wages 24-hours via ATM network. A paycard gives employees a way to spend wages at PIN and signature-based transaction locations and on the Internet. A paycard allows employees to elimate check-cashing fees, waiting for paychecks to arrive in the mail, and other payday burdens. A paycard is a way for unbanked employees to gain financial security.

Why Think Payroll Paycard Solutions? Experience program implementation and support teams. Compliant and certified with all Paycard industry regulations. Worldwide acceptance through parnterships. 800+ payroll paycard clients. Paycard product development innovation. Multiple data centers, call centers, and information technology resources. The primary focus is paycards. Pioneers in the payroll industry. Turn-key paycard solution. All paycard systems are proprietary - built from the ground up. Largest surcharge free ATM network.

Direct Deposit key benefits are cost savings. Businesses can save up to $2.93 (per National Automated Clearing House Association 2009) per transaction by using Direct Deposit. Example: Swithcing 80 bi-weekly paid employee from paper checks to Direct Deposit would save over $5,000 annually. Another key benefit is increased employee productivity - employees spend between 8.5 and 24 hours per year going to the financial institution to cash or deposit their paychecks, an activity which accounts for an estimated $3-$5 billion loss in productivity annually.

Paycards benefit the employer by increased Direct Deposit participation. Employer can load payroll via ACH, Internet or batch loads. Paycards reduce overall payroll costs. Paycards maximizes employee time. Paycards also minimize the exposure to paycheck fraud. Real-time funding. Paycards are convenient for new employees, reimbursement, travel and term pay.

Companies that benefit from paycards desire to achieve 100% direct deposit to reduce payroll expenses, have a large number of employees or payees, un-banked and hourly or contracted employees, unusual payroll cycles, and high employee turnover.