PayPro HCS is partnering with SOLE Financial to relieve the burden on workers without banks and their employers. More than a quarter of American workers are un- and underbanked according to the Federal Reserve, meaning they do not have a checking, savings or other bank account.
Through the partnership with SOLE Financial, PayPro HCS, which is a human capital management company headquartered in Kennesaw, Ga.,
with an office in Chattanooga, will be able to provide their clients with a paycard for those un- and underbanked employees.
In return, SOLE Financial is planting 100 trees for every PayPro HCS client that achieves 100 percent direct deposit and eliminates unnecessary paper used for paychecks.
“Paycards are an important service for us to offer because employees are handicapped when they get a paper check. It’s hard to convert it into money, and there are so many fees associated with cashing checks. Many employees don’t want a bank account, and paycards allow them to receive direct deposit without one. It’s a benefit to both employee and employer, because paycards are more efficient and easier to manage than paper checks,” said Mike Steele, PayPro HCS chief development officer and co-owner.
"PayPro HCS is focused on hiring and retaining the best long-term talent in order to provide long-term, quality one-on-one account management to clients. Likewise, SOLE Financial is the only payroll card company with an in-house call center in order to maintain highly trained in-house reps and provide the best service possible. PayPro HCS chose SOLE to encourage clients to implement direct deposit," officials said.
“Providing a paycard product gives PayPro HCS clients a tool for retaining employees and maintaining a competitive suite of payroll options. When selecting a paycard partner, SOLE was a natural fit for PayPro HCS, given both companies’ focus on providing excellent customer service,” said Mr. Steele.
For every PayPro HCS client who achieves 100 percent direct deposit by eliminating paper payroll checks, SOLE will plant 100 trees in the company’s name through the SOLE Paperless Trees Project. The company will also receive a limited edition SOLE water bottle and a paperless award on plantable seed paper to recognize their contribution to the environment.
“PayPro HCS’s move to adopt SOLE as its paycard partner represents a commitment to ensuring their clients have the best tools available for helping their employees,” said Tom Secor, president of SOLE Financial. “Partnering with likeminded companies, led by those who care deeply about service, reminds us why we do what we do at SOLE, and we are thrilled that PayPro HCS will now be able to offer the gift of direct deposit to all of their clients’ un- and underbanked employees.”
"For employees, the paycard fosters financial inclusion through instant access to their money on payday, use of a mobile app to track balances and purchases, the ability to buy things online, the highest-rated customer service in the paycard industry and no-cost point of sale transactions," officials said.