1 / 27

The Sage Payroll PayCard

The Sage Payroll PayCard. Cost-effective. Secure. Smart. Agenda. Positioning What do we tell your customers What’s in it for you Benefits Revenue example What you need to do The process Roadmap Q & A . What is the Sage Payroll PayCard?. Pre-paid debit card. Main benefits.

huela
Download Presentation

The Sage Payroll PayCard

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Sage Payroll PayCard Cost-effective. Secure. Smart

  2. Agenda • Positioning • What do we tell your customers • What’s in it for you • Benefits • Revenue example • What you need to do • The process • Roadmap • Q & A

  3. What is the Sage Payroll PayCard? Pre-paid debit card

  4. Main benefits • Good for the company • Saving cost • Hassle free • Happy employees – great service • Good for the employees • No checks to cash • Direct access to funds • Safe • All the benefits of a Visa debit card, but without a bank account

  5. Employee Enrollment timeline Typical timeframe 10-14 days

  6. Employer website http://www.sagepayrollpaycard.com/

  7. Enrollment and reporting • User friendly site • Easy enrollment • Informational report

  8. Benefits to Employers • Cost reduction • Paperless payroll – going “green” • No hassle • No lost or stolen checks • Minimizes exposure to check fraud • Eliminates check reconciliation process • Eliminates check distribution costs • Eliminates escheatment liability • Works with both Abra Payroll and Compupay • Not responsible for cardholder issues • No financial liability for cardholder activity

  9. Costs of Issuing Payroll Checks What is it costing your company? • Costs to issue a stop payment and replace a lost check • Transportation costs • Cost to deliver checks • Decreased HR/payroll personnel productivity

  10. Case Study Business Challenge: • 5 job sites • Employs 300 workers - 50% receiving paper paychecks • Weekly pay period with paychecks being delivered to each job site • Supervisors at each site are required to be available to distribute checks over a 3 hour period • Frequently company vans are used to transport workers to cash their checks resulting in lost productivity and cost of gas • 25 checks were lost or stolen last year

  11. Case Study $128,778 savings per year!

  12. Employer Calculator We can work with you to calculate the savings for your company.

  13. Benefits to Employees • No check cashing • No bank account or credit check required • Immediate access on payday • Safer than carrying cash • Convenient • Employee owns the card • Allpoint ATM Network – over 37,000 surcharge-free ATM locations worldwide at www.allpointnetwork.com • Up to 3 secondary cards available

  14. Employee Web portal • Quick and easy to use web portal • Secure login • Card number • Last 4 digits of SSN • Security code • Available 24/7

  15. Cardholder Fees Charged directly to the employee. In some cases, the employer will choose to pay these fees, which can be treated as a post-tax contribution. • One-time Enrollment Fees • Monthly Fees

  16. Cardholder Fees Transaction Fees Other Fees

  17. Check Cashing/Spending Comparison (4 Paychecks/Month)

  18. Cardholder Average Monthly Savings • Many employees can save as much as $500 annually in check cashing fees.

  19. Positioning the Payroll Card Program • Make It Mandatory • Direct deposit is a condition of employment • Offer employees choice of direct deposit or payroll debit card • Voluntary - Direct Deposit is “Preferred by the Company” • Offer the Sage Payroll PayCard as “a new and better way to get your pay” • Include paper paychecks as a discouraged option

  20. Employer Support • Dedicated Account Manager • Communication materials for employees • Promotional introductory letters • Setup forms • Posters • Email content • Paycheck stuffers • FAQs • Employer Materials • Online training • Website guide • Quick reference guides • Implementation guide • Easy-to-use website portal

  21. Marketing materials

  22. Sage Payroll Paycard fees • Employer Fees • One Time Set Up Fee $50.00 – • Monthly Employer Maintenance Fee $10.00 • One-time employee card enrollment $2.00 • Fall 2010 PROMOTION: Fees above are WAIVED IF ENROLLED BY ….

  23. What’s in it for you • Recurring revenue • $1.00/card/month • Happy customers • Increased ‘stickiness’

  24. What you need to do • Almost nothing • Inform your customer • Answer some questions • Start collecting money

  25. The Process • Leads • New & Existing Clients • Webcasts • Opportunity Management • Resources • Sage & Motivano • Placing Orders • Order Form • Underwriting Guidelines

  26. Roadmap: more good stuff to come • “Instacards”: one time instant usage • In-product connected service • Batch processing • ROI calculator

  27. Questions?

More Related