Florida firm enters payroll card market

Florida firm enters payroll card market
Tags: Bank / Credit Union, Debit / Credit, Trends / Statistics
September 6, 2005

Tampa Bay Business Journal: Bradenton, Fla.-based stored-value and debit-card firm Morgan Beaumont Inc. is rolling out the Prestige Payroll Card, its first efforts into the employer payroll card market.

The new program, supported by First Gulf Bank, will allow employers to pay their employees with a debit card instead of a traditional paycheck, company officials said. The PIN-based and prepaid debit card can be loaded with funds via employer payroll direct deposit, and can be used to access those funds at ATM machines and anywhere Visa debit cards are accepted.