InstantWage is a powerful tool to improve the long-term financial wellness of cardholders while at the same time helping our staffing clients increase worksite productivity and employee retention.
DALLAS (PRWEB) March 28, 2018
Kittrell Paycard, a leading provider of prepaid payroll cards to the staffing industry, announced it has added a new on-demand pay feature to its payroll cards called InstantWage™. InstantWage allows cardholders to access their earned but unpaid wages at any time instead of having to wait for payday.
“At Kittrell Paycard we are committed to providing our clients and their employees with the best possible solution so we are always looking for ways to enhance our product,” said Mary Kittrell-Kinkaid, CEO, Kittrell Paycard. “InstantWage is a powerful tool to improve the long-term financial wellness of cardholders while at the same time helping our staffing clients increase worksite productivity and employee retention.”
Until now, employees who were short on cash would be forced to charge a credit card, overdraft their bank account (if they have one) or turn to pricey payday loans. In 2015, consumers spent $141 billion in fees and interest on these types of financial services according to research from the Center for Financial Services Innovation.
This financial dilemma is not just a problem for employees. Employers are also suffering from the costs associated with employee financial stress. Employees that are worried about their finances are less productive, call out sick more often and are more likely to look for another job.
To access InstantWage an employee must have a Kittrell Paycard. There is no cost** to the employer or time-consuming technology integration needed to offer InstantWage to its employees. There is also no impact on a business’s cash flow or normal payroll process. Once an employer is signed up, all of their employees with earned but unpaid wages are eligible. For a small transaction fee of $5, employees can get immediate* access to as much as half of their earned net wages.
The Kittrell Paycard and InstantWage are powered by Cardplatforms and its proprietary digital payments platform, Blu Box™.
About Kittrell Paycard
Kittrell Paycard is a leading payroll card provider to the staffing industry. Founded in 2005 by staffing industry veteran Mary Kittrell-Kinkaid, Kittrell Paycard distributes payroll card programs designed specifically to meet the unique needs of staffing agencies and their temporary employees. Learn more at http://www.kittrellpaycard.com.
Cardplatforms® delivers impactful payment solutions to underserved populations and markets, where traditional financial services have failed to provide affordable and convenient options. Leveraging a unique blend of industry expertise and proprietary technology, we design and develop white-label payment solutions for payroll, corporate expenses, incentives, government benefits, legal settlements and insurance claims that are specifically tailored to the needs our partners and their consumers. Our experience navigating an ever-changing payments landscape, combined with the control provided by our Blu Box™ technology platform, allows us to fully customize programs and get them launched faster. Learn more at http://www.cardplatforms.com.
*Website or network connection issues may delay InstantWage funding.
**InstantWage provides employers with the funds for employee InstantWage payments. All InstantWage funds and fees pass through the employer’s InstantWage Master Funding Account, so there is no net cost to the employer.