News

Genpass, Payroll 1 partner on payroll card program

March 3, 2004

IRVING, Texas - Genpass, manager of the MoneyPass surcharge-free ATM network and a provider of PayCard payroll debit cards, and payroll processing company Payroll 1 have launched the Payroll 1 PayCard.

According to a news release, Payroll 1 PayCards are stored value debit cards that can be issued in place of paychecks for some employees, and provide a money management tool for others -- even those who have their pay direct deposited.

Genpass' experience in EFT processing, along with the features of the PayCard itself, made Genpass "the best choice for Payroll 1," said Reta Lock, Payroll 1's director of E-Business Initiatives.

Genpass' new MoneyPass Surcharge-Free ATM network, which provides access to pay without incurring surcharges for Payroll 1 PayCard holders, was also a factor in selecting Genpass.

"The combination of Genpass' EFT product quality and the MoneyPass network made them the best choice for meeting our clients' needs," Lock said.

Payroll 1 will offer PayCard services to its existing and prospective clients across the country.

Bipin C. Shah, chief executive of Genpass, said in the release, "(Employees' pay) needs to be there on time, and employees need convenient access to it when, where, and how they want their money. Genpass' vision is to deliver that convenience and reliability with pricing to both employers and employees that is advantageous to both."