Leading Healthcare Staffing Agency Provides Employees With Faster Access to Salary Payments; Improves Recruiting and Cuts Payroll Costs
In an economic environment where many workers are feeling the pinch of the rising cost of living, Nursefinders Inc., one of the nation’s largest healthcare staffing providers, is offering daily salary payments to employees who have registered at no cost for a Chase Payroll Card. Upon completion of a daily work shift, an employee’s payroll card account is credited with salary payment as quickly as two hours after an approved time card is submitted.
Workers can receive payments on the day that a shift is completed, giving them faster access to funds to pay basic living expenses such as groceries, gas and utility bills. Cardholders can access their funds at automated teller machines (ATMs), receive cash back at retail locations, pay bills online, and make purchases at the millions of locations that accept Visa® debit cards, such as retail stores and restaurants. Cardholders also avoid paying costly check-cashing fees with the payroll card. Account balances can be accessed daily via a toll-free number or online. The online summary shows deposits, withdrawals, purchases and fees for the requested timeframe.
“The Chase Payroll Card provides a competitive advantage as we are able to offer a highly flexible payroll structure in which our healthcare employees can receive their pay daily, weekly, biweekly or monthly. The daily pay option has been met with the greatest enthusiasm. Many who were receiving payment via direct deposit even switched to the card as it gave them faster access to cash,” said Sandi Johnson, payroll manager, Nursefinders, Inc. “In addition, an automated, electronic payroll solution has helped us lower costs associated with paper payroll delivery, such as the $20 or so that is paid every time we would need to place a stop order on a lost check.”
Nursefinders piloted the payroll card program in September 2007 in its Forth Worth, Texas branch where nearly 90 percent of employees registered. The program has now been rolled out to 55 Nursefinders branches, and more than 5,000 cards have been activated.
Nursefinders deployed the Chase Payroll Card program as a means to provide its employees with a safe, convenient, and dependable alternative to payroll checks, as well as reduce the costs and time associated with issuing paper payroll checks. Nursefinders also wanted to provide an appealing solution to its numerous unbanked employees -- those who would like the convenience of direct deposit but do not want to manage a checking account, do not qualify for a checking account or may be hesitant about the fees and requirements associated with banking services.
“JPMorgan provides payroll card solutions to more than forty U.S. staffing agencies. Nursefinders has been unique in using our technology to offer a daily payment option designed to best suit the needs of its employees,” said Rich Erario, Managing Director, Commercial Card and Electronic Procurement, Invoicing and Payables, JPMorgan. “An employee can take on an overtime shift during the holidays and then go shopping for loved ones after work by having almost immediate access to newly deposited funds.”
According to Mercator Advisory Group's "Prepaid Market Forecast 2007-2010" report, the popularity of payroll cards will continue to rise over the next several years. In 2006, more than $11.3 billion in spending was placed on payroll cards and this number is expected to grow to $43 billion by 2010.
JPMorgan offered the industry’s first payroll card solution in 1987. Unlike most service providers, JPMorgan is both the transaction processor and card-issuing financial institution, enabling the company to provide end-to-end debit solutions that can be obtained through one-stop shopping. As a result, payment programs can be quickly and easily implemented, enabling companies to save money and reduce fraud, while modernizing their administration and improving the efficiency of their payments. Additionally, with a proprietary platform, JPMorgan is one of the few banks that does not outsource this key competency, thereby reducing its dependencies on third-party providers. The Chase Payroll Card won the Paybefore Award for “Best Payroll Card Program” in 2007 and 2008.
Nursefinders, Inc., based in Arlington, TX, provides nursing, allied healthcare and physician placement services through its Nursefinders, Club Staffing, Resources On Call, National Healthcare Staffing, TVL Healthcare, Linde Healthcare, and Kendall & Davis brands. Through a network of over 100 offices and multiple recruitment centers, it serves hospitals, outpatient centers, assisted living and other health care facilities nationwide. It also provides home health services through approximately 25 of its offices. The company places more than 18,000 health care professionals in long and short-term health care assignments each year. To learn more about Nursefinders, please visit www.nursefinders.com.
The Chase Payroll Card is issued by JPMorgan (NYSE: JPM), a leading global financial services firm with assets of $1.6 trillion and operations in 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorgan.com.
Senior Director of Corporate Communications, AMN Healthcare
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