The Skylight PayOptions Program by CompuPay allows employers to simplify payroll and ease compliance worries with a fully integrated pay option that serves the unbanked employee.
Dallas (PRWEB) February 26, 2013
CompuPay, A BenefitMall Company, is one of the country’s leading providers of integrated payroll and tax filing services. Today the company announced its new partnership with Skylight Financial, Inc., a leading provider of payroll cards and an affiliate of NetSpend Holdings, Inc. (NASDAQ: NTSP), the nation’s leading provider of payroll cards, to offer the Skylight PayOptions Program to CompuPay customers.
According to a survey recently released by the Federal Deposit Insurance Corporation, about 68 million people are either unbanked or underbanked in the U.S. These consumers are turning to alternative ways to get cash such as prepaid cards and check-cashing services. The Skylight PayOptions Program allows CompuPay customers to achieve cost-effective, 100% paperless payroll for employees without traditional banking services or for those who simply want more payroll options. The Skylight PayOptions Program makes payroll simple and easy for business owners allowing them to save both time and money by eliminating the need to produce and distribute checks.
“The Skylight PayOptions Program provides a true benefit to the small- and medium-sized business owners we serve,” said Kathey Palmer, Senior VP of Business Development of CompuPay, A BenefitMall Company. “The program allows employers to simplify payroll and ease compliance worries while providing an innovative solution to help ensure employees’ personal and financial security. We are happy to deliver this new offering to meet our customers demand for a pay option that is easy to administer and meets the unique needs of their employees. Extending our comprehensive product portfolio to include the Skylight PayOptions Program is another example of how we are dedicated to meeting the changing needs of our clients as the business world evolves.”
The Skylight PayOptions Program provides two primary means for employees to access their wages that complies with federal laws, including Regulation E and state wage and hour laws. Equally important for state wage law purposes, the Skylight PayOptions Program includes several free methods by which employees can better manage and access their wages, including free balance inquiries, free ATM withdrawals, free signature purchases, free over-the-counter bank branch withdrawals at any Visa or MasterCard member bank and free Skylight Checks.
“The Skylight PayOptions Program gives CompuPay another way to deliver the convenience and value its clients have come to expect,” said Patrick Brown, senior vice president, payroll channel at NetSpend. “Through our program, CompuPay will offer more payroll program choices to its clients across the nation while helping to expand payroll options for the unbanked community.”
CompuPay, A BenefitMall Company, was founded in 1980 and today is the second largest privately held payroll company in the U.S. and fourth largest overall. Its growing network of local offices processes more than 250,000 payroll transactions each week for tens of thousands of companies ranging in size from one to over 10,000 employees. The company offers payroll and employer-related services such as workers’ compensation insurance, employee benefits, retirement plans and Section 125 and 132 plans to clients seeking highly flexible, innovative solutions to meet their growing business needs.
More information about the company is available at BenefitMall.com and CompuPay.com
NetSpend is a leading provider of general-purpose reloadable prepaid debit cards and related financial services to the estimated 68 million underbanked consumers in the United States who do not have a traditional bank account or who rely on alternative financial services. The Company's mission is to develop products and services that empower underbanked consumers with the convenience, security and freedom to be self-banked. Headquartered in Austin, Texas, NetSpend is traded on the NASDAQ stock exchange under the symbol NTSP. Please visit http://www.netspend.com for more information.
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Employee Benefits | BenefitMall | CompuPay | Payroll Services