Consorteum Holdings Inc., the innovative payment technology company, offers a much needed payment solution to a huge number workers.
â€œIâ€™m an employee at a mid-sized technology firm. Iâ€™d really appreciate an alternative banking solution outside of what the traditional banks can offer me â€“ almost like a â€˜virtual bankâ€™ â€“ because I receive a manual check every two weeks. My only alternative for cashing my check is at a â€˜check cashing storeâ€™ which is both costly and cumbersome.â€
Consorteumâ€™s highly effective solution, which can be customized to fit individual client needs, is centered around the creative use of payroll card technologies. Payroll cards provide unbanked or underbanked employees with easy and immediate access to their pay. The primary target is the employee, often part-time or temporary, without a checking account, or who does not wish to use their checking account for direct deposit.
Companies can offer the cards to any or all of their employees. The employee will receive a personalized, reloadable prepaid payroll card. The employeeâ€™s pay is automatically deposited into their individual card account each pay period.
Cardholders can use the card at an ATM, to pay for purchases at the point-of-sale, or to pay bills. Payroll cards are welcome everywhere that credit cards are accepted, including the Internet and telephone order merchants. In addition, cardholders get monthly statements, and can obtain account information at ATMs, or by calling a toll-free number.
Consorteum payment solutions are not limited to unbanked or underbanked employees, and can also be applied to such markets as rebate recipients, loyalty program participants, gift card programs, or just about any situation where there is a need to pass value in a convenient and flexible way. Their solutions help merchants and employers as well as individuals requiring non-traditional payment.
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