Press Release: Portland, OR - December 22, 2015
The SOLE Visa® Payroll Card, a direct deposit debit card that allows employers to pay their employees with efficiency, save money and achieve paperless payroll, is one of the newest offerings in The iSolved Network Marketplace. The iSolved Network Marketplace is an online, single source of products and services available to iSolved Certified Partners. SOLE Financial offers tools and individual empowerment for the underserved, unbanked workforce. iSolved is a comprehensive HCM, cloud-based platform for HR, payroll, time tracking, onboarding, and benefits enrollment for small to mid-sized employers.
The SOLE Paycard allows employers to pay their employees quickly. Funds are loaded via ACH onto the card, which employees can use as a debit card at any retailer that accepts Visa. Benefits to employers include the ability to go paperless in payroll processing, money saved on printing paper checks, and the elimination time previously spent sorting, signing, printing, distributing and shipping paper checks. On average, employers save $3.15 per employee, per payday on every conversion from paper check to paycard.
The SOLE Paycard allows un- and underbanked paycard holders quick and no-cost access to their hard-earned pay, while eliminating the expensive and time-consuming shackles of a paper payroll check for employees and employers alike. According to a recent study by a commissioned agent of Visa, 86 percent of payroll cardholders prefer being paid via paycard over a paper check. This option can also help employees track spending better than cash, encouraging better financial management.
“The purpose the iSolved Network Marketplace is to provide our partners with resources and tools to simplify the lives of their customers,” said Todd LaFever, President of Technology at Infinisource. “SOLE Payroll cards align well with this goal, so we are excited to offer this product through the Marketplace.”
SOLE Payroll cards offer numerous benefits to both employers and employees. Certified Partners of the iSolved Network can take advantage of this new offering through the Marketplace and make sure that their customers are paying employees efficiently.
About iSolved Network
The iSolved Network allows elite, high-growth payroll service providers using the cloud-based iSolved human capital management technology to deliver a complete set of workforce solutions to small and medium-sized businesses. Launched in the summer of 2014, the iSolved Network has experienced rapid growth and now has over 1.2 million employees committed to the technology. The iSolved solution delivers a comprehensive approach to workforce management; offering payroll, onboarding, human resources, time and labor tracking and benefit enrollment from within the same solution. For more information on the iSolved Marketplace, visit http://www.isolvedmarketplace.com.
About SOLE Financial
SOLE Financial aims to serve the underserved by providing a low-cost alternative to predatory check-cashing services for un- and underbanked employees. By partnering with employers to achieve 100% direct deposit, SOLE saves employers time, paper and money while providing the convenience and dignity of traditional banking services to the unbanked workforce. SOLE Paycard holders can access their hard-earned paycheck at no cost through point-of-sale and cashback transactions.
SOLE Financial is a rapidly growing company in the payroll card marketplace. Since 2010, SOLE’s topline revenue has increased by 346% while its active funded cardbase has increased by 394%. SOLE serves over 3000 employer clients nationally.