- 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document contains unpublished, confidential and proprietary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
2. Agenda
- The Payroll Distribution Services Pay Card and Money Network
Check
- The Advantages of First Data's Payroll Distribution
Services
3.
4. First Datas Prepaid Market Suite
- Allows you to achieve 100% electronic pay
- Improves payroll security and control
DirectedGift Giving Consumer Need Open Loop Gift Cards Closed
Loop Gift Cards Multi-Purse Gift Cards Employer PayCards &
Check General Purpose Reloadable Cards Flexible Gift Giving
Spending & Convenience Rewards Payroll Direct Deposit Bank
Account Alternatives Spending Cards Loyalty Cards 5. Large
Underbanked Market Looking for Alternatives
- CFSI Underbanked Consumer Study 2008
- ** Mercator Advisory Group, Inc. 2008
51.5M 24% 54.9M 25% Underbanked Percentage of U.S. Adult
Population* (Numbers in Billions) The use of Payroll Cards is
expanding as companies look to migrate topaperless pay in order to
save costs associated with issuing paper checks 6.
- Payroll Distribution Services
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 dont use it or dont 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 8. What is the First Data Payroll Distribution
Solution?
- Voluntary direct deposit to the financial institution of
employees choice
- The Money Network Service
- Voluntary Money Network Card*
- The Money Network Check: A paper check for full access to net
pay without fees
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- Employee generated as desired
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- Enables compliance with state payroll check requirements
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- Provides pay to the penny (100% access) to net pay at no
fee
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- The Money Network check can be cashed for free in all 50
states
*Use of the card by the employee is optional Allows you to
achieve 100% electronic pay thus reducing thecosts associated with
issuing paper checks 9. Achieving 100% ElectronicPayments 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* 10. Product
Overview- Associate Benefits
- Free ATM Access Over 35,000 surcharge free ATM locations:
Allpoint Network
- Instant Issue or personalized cards STAR PIN Only, Visa,
Discover or MasterCard
- Money Network Checkcan be used for bill payment, cash-out to
the penny, termination pay and for access to cash if the card is
lost
- Multiple Source Funding offers Associates flexibility with
Western Union re-load or second job ACH
- Balance Alerts Daily or weekly balance sent via text or
email
- Benefits for family- secondary card(s) option available
11. The First Data Payroll Distribution Solution Business Issue
First Data Solution Reducing Payroll Expenses With First Datas
Payroll Distribution service you canreduce your overall payroll
expenses Compliance The Money Network Service enables you tomeet
compliance requirements in all 50 states Achieve 100% Electronic
Pay With First Datas Payroll Distribution services, you can
achieve100% electronic pay across your organizationeven 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
fundingBilingual Education of EmployeesMarketing materials and
customer support provided inEnglish and Spanish 12. Lower Your
Payroll CostsTake advantage of First Datas prepaid and payment
expertise to lower your costs and add an employee benefit with a
high perceived value Issue: Check Printing CheckDistribution
OffCycle / Term Pay Check Fraud Industry Estimate First Data
Cost $0.69 $0.61 $0.21 $0.10 $0.03 $0.0 $0.0 First Data Cost. $0.0
.. $0.0 $0.0 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
distributioncosts 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) 14.
15. Employee Awareness and EducationFirst Data supports every
aspect of the process
- Statement stuffers to announce the move to new pay options
- Posters, table tents, take-ones available for work locations to
communicate the benefits of the new pay program
- Cardholder bi-lingual marketing packets for enrollment and
training, include:
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- Card carrier with fee schedule that includes an enrollment form
to use, if needed
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- Easy to follow instructions for activating and setting up
personal PIN numbers
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- Cardholder terms and conditions
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- Introduction to and instructions for using the card &
check
How To Guides English & Spanish Table Tents 16.
Implementation and Training
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- Approximately 4 Weeks (Fastrack can be implemented much more
quickly)
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- Includes training, product inventory management, enrollment,
funding and final production testing
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- All training will be facilitated by First Data (field manager
training, including product training, program administration,
compliance, reporting)
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- Training needs will be mapped out during the early stage of
implementation
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- Relationship Management Team will be assigned
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- Continued communication on product enhancements
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- Access to Client Service Teams
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- 24/7 Toll-Free Operator Support (Spanish and English)
17.
18. Client Success with Payroll Services
- First Data provides payroll cards to over 1,000 companies
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- Best Buy 100% first pay, opt-out
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- Michaels Stores 100% requirement
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- Abercrombie & Fitch beginning 100% roll
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- American Eagle 100% for term, elective roll
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- Gander Mountain 100% electronic
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- Texas Roadhouse 90+% electronic
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- OSI, Inc. Carrabas 100%, Outback rolling opt-out
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- Teds Montana Grill 100% electronic payroll and pay advice
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- Caspers Inc. (largest McDonalds franchise) 100% electronic
19. Success Story with First Data Providing Safe, Reliable,
Paperless Payroll Solution
- Distributes 6,000 checks to 50 location in seven states
- One full time staff member kept busy problem solving (Fraud,
Lost Checks, etc)
- Fraud lead some retail location to become reluctant to cash
company checks
- The company starting searching for a paperless solution that
would save money and reduce fraud
- First Datas Payroll solution was selected because it met their
objectives and our outstanding level off customer service
- 100% electronic pay was achieved
We could not be more pleased with how well this product is
working for us.This is a sensitive area getting people paid and
First Data has been a terrific strategic partner for us.-Peggy
Orrell, Director of Human Resources Outsourcing, The Holland Group
20.