Directo ends March on a high note

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Paycard pioneer continues to see great growth despite national economic downturn

Paycard leader Directo experienced an astounding 7 percent growth rate for the month of March despite the economic turmoil that continues to plague other companies nationally.

Directo CEO Bob Howe states, “As the economy challenges industries across the board, Directo has been able to find success and stability by providing a service that improves costs for employers and provides a much needed benefit for their employees. We are a company that offers a win/win benefit for both.”

For 2010’s first quarter, Directo is 18 percent ahead of 2009’s fourth quarter in new accounts. With several larger contracts that could bring close to 10,000 new Directo card holders in the coming months, those projections continue to grow.

“Many companies need an instant payroll solution in this economy that will cut costs, but that can also be quickly and painlessly implemented. That is where Directo steps into the picture,” says Jim McCarthy, Directo’s senior vice president of sales and marketing.

According to the Electronic Payments Network and The Electronic Payments Association an employer can save on average $190 per employee annually or $19,000 annually for every 100 employees by using direct deposit.

But achieving 100 percent direct deposit remains elusive for many companies because of unbanked or underbanked employees. According to the most recent FDIC survey, an estimated 30 million Americans fall into this group, which remains the core audience for Directo’s paycard program.

By being able to guarantee 100 percent direct deposit participation, needing no additional software, and providing instant-issue cards, Directo proves to be a seamless process for employers to implement.

About Directo
As the industry’s customer-service leader, paycard pioneer Directo maximizes a company’s distribution of payments while minimizing risks and costs. Directo helps companies pay their people worldwide through a simple, automatic, fast, and economical ACH-secure system. Employers will eliminate the expense and hassle associated with paper checks, streamline their unique payments programs, and meet green initiatives. Carrying no check cashing fees and the security of a FDIC-insured account, Directo’s debit card solutions allow employees the convenience of ATMs, purchasing power in stores, and online bill pay. With Directo, everyone can receive direct deposit.

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Jeffrey Willis
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