The Power of Commission Payment Choice - Fragmob Technology Conference
Corporate Presentation Mn 2009[1]
1. Payroll Distribution Services In Partnership with K1 This document contains unpublished, confidential and proprietary information of First Data Corporation. You may not disclose, copy or use any part of these materials for any purpose without the express written consent of First Data Corporation. Larry Lokey First Data
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7. Common Employer Issues “ I am looking for a payroll solution that enables compliance with complicated payroll laws” “ Issuing paper checks and the administration that goes along with it is extremely costly to my company” “ Direct depositing pay saves me money, but a large number of my employees don’t use it or don’t have bank accounts “ Many of my employees speak Spanish, so any service would need to be available in English and Spanish” “ I have a high-turnover, unbanked employee base – I need a payroll solution that saves me money and is easy to implement”
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9. Achieving 100% Electronic Payments Providing What Everybody Wants / Needs *The Money Network™ Check is a negotiable instrument in all 50 states. Employer 100% Electronic Payment Employees with Bank Accounts Voluntarily elect direct deposit to personal bank Employees without Bank Accounts Voluntarily elect pay card or Money Network Checks*
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11. The First Data Payroll Distribution Solution Business Issue First Data Solution Reducing Payroll Expenses With First Data’s Payroll Distribution service you can reduce your overall payroll expenses Compliance The Money Network Service enables you to meet compliance requirements in all 50 states Achieve 100% Electronic Pay With First Data’s Payroll Distribution services, you can achieve 100% electronic pay across your organization even for exception pay, termination pay and employees without bank accounts Funding Standard ACH funding, web funding and same day funding via batch loader Instant Payment Corporate account with online web funding Bilingual Education of Employees Marketing materials and customer support provided in English and Spanish
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13. Payroll Distribution Services Helps Your Business Achieve 100% electronic pay across your organization Guarantee first pay with the instant issue product, including both the Money Network™ Check and Money Network Card. Reduce payroll production and distribution costs Ensures prompt distribution of pay on payday even in disaster situations. Improve payroll security and control Helps Your Employees Access their wages immediately on payday by either Money Network™ check or card . No-fee check cashing nationwide To pay for goods and services conveniently and safely in person or online Cash back at millions of participating retail locations – cash withdrawals at the largest surcharge free ATM network in the U.S. Guaranteed access to wages immediately on payday even if scheduled off, out on illness, vacation or in disaster situations 24/7 bilingual customer support (English/Spanish)
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Notas del editor
This product not only appeals to “unbanked” employees, but employees with bank accounts that do not wish have their pay deposited into a traditional bank account.
-Vertical specifics include Retail, Staffing, QSR and Casual dining- refer to client results page (future appendix) - Proven implementation methodology maximizes efficiencies and results for fully launched paperless-pay campaigns
Details – First Data Case Study (Found on Brand Center) Each week The Holland Group, a human resources and processing management company with a staffing division based in Murfeesburo, Tennessee, distributes paychecks to 6000 temporary workers in as many as 50 different locations in seven states. The company knew it was spending an unacceptable amount of time and money getting those checks delivered. Fraudulent duplication of checks, lost checks and related problems kept one staff person at Holland busy problem-solving just this one business area. Where fraud occurred, some retail locations became reluctant to cash Holland paychecks—a situation that had the potential to affect the company’s reputation adversely. Beginning in 2003, the company started looking for a more efficient way to pay its workers. The challenge was to find a safer, more efficient alternative to paper paychecks and educate a large and changing workforce already accustomed to getting paid in a traditional form. For several months Holland reviewed a variety of solutions offered by various providers, including banks. For most of those vendors, paycard solutions were an ancillary part of their business. Holland wanted a strategic partner that specialized in payroll solutions and had a strong track record of successfully transitioning large workforces from paper paychecks to electronic paycards. They found that partner in First Data’s Money Network. In October 2005 all 6000 temporary and 200 permanent employees of The Holland Group switched from printed paychecks to one of the two paperless options, with 25% choosing a Money Network Paycard and 75% electing direct deposit.