(PURCHASE, N.Y., Oct. 28) — MasterCard Worldwide and The BBB of Nashville today announced the introduction of the TrustCard Prepaid MasterCard Payroll Card. The new cards are specifically designed for Better Business Bureau Accredited Member Businesses seeking a cost-effective, safe and reliable means to pay employees. Instead of issuing checks, employees’ salaries are deposited on to a safe and convenient prepaid card. Cardholders can use the TrustCard Prepaid MasterCard anywhere Debit MasterCard is accepted — at more than 27 million merchant locations and 1.3 million ATM and other locations where cash can be obtained.
“For many businesses, the payroll process has historically been a complicated and expensive one. By transitioning beyond the inefficiencies of paper checks to payment cards, Better Business Bureau Accredited Businesses can realize significant cost savings while empowering their employees with a reliable payment product,” said Kathleen Calligan, CEO of The BBB of Nashville. “By teaming up with MasterCard for the TrustCard Prepaid MasterCard Payroll Card, the BBB is offering its accredited businesses a safe, reliable, and cost-effective payroll product that introduces great benefits to their employees.”
“Prepaid MasterCard Payroll Cards have revolutionized the way thousands of employees receive salaries each month,” said Ted Dargan, Vice President, U.S. Market Development, MasterCard Worldwide. “Organizations of all types and sizes are transitioning from paper-based checks to payroll cards as they recognize the benefits realized by the employer and the employees. Beyond the convenience, these cards help to build trust with employees as organizations can more easily ensure timely payment.”
Backed by organizations businesses can trust — The BBB of Nashville, MasterCard and Verities — the TrustCard Prepaid MasterCard Payroll Card offers a reliable alternative to paper-based checks.
The TrustCard was developed by Verities Inc. exclusively for Better Business Bureau Accredited Businesses. The Verities vision was to create a standard of ethics for the emerging prepaid market. “We’re honored to have pioneered an exclusive prepaid payroll program in an age of economic thriftiness that is going to cause consumers to embrace prepaid as a budgeting tool”, said Edward Rufo, CEO of Verities, Inc. “We are grateful to our business partners that have championed with us the TrustCard concept and mission. Those partners include The BBB of Nashville, MasterCard Worldwide, i2c, Inc., and Palm Desert National Bank.”
The TrustCard Prepaid MasterCard Payroll Card is issued by Palm Desert National Bank pursuant to license by MasterCard International Incorporated.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 18 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard(R), Maestro(R) and Cirrus(R), MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.
About the Better Business Bureau
The BBB of Nashville was founded in 1961 as a non-profit Tennessee organization serving 38 counties in Middle Tennessee and 7 counties in Southern Kentucky. The first BBB was founded in 1912. Today, BBB’s serve communities across the U.S. and Canada.
Serving as the ‘ethical gatepost’ of our communities, BBB fosters and promotes ethical business practices and self-regulation standards that builds consumer trust in the marketplace. BBB services include business reliability information, complaint resolution services and consumer and business educational information. In 2007 The BBB of Nashville handled over 3.2 million services requests via our web site www.nashville.bbb.org.