Community Bank of Pasadena, California, has agreed to market the Fiserv, Inc. (Nasdaq:FISV) PAYCHEK PLUS! payroll debit card to its commercial clients. Fiserv provides PAYCHEK PLUS! to financial institutions through an exclusive partnership with stored-value processor FSV Payment Systems (FSV), based in Houston.
"We are extremely pleased to be able to offer the PAYCHEK PLUS! e-payroll solution to our clients," said Rich Wilkinson, Vice President and Product Manager for Community Bank. "It will enable us to offer an entirely paperless payroll program to all employers that bank with us, regardless of the number of employees they have or whether those employees have bank accounts."
Community Bank expects the addition of the PAYCHEK PLUS! paperless payroll program to its existing products and services to be a decision that ultimately helps in keeping with the bank's mission to be a leader in the distribution of financial products. The bank has 13 branch offices throughout Los Angeles, Orange, Riverside and San Bernardino counties.
FSV Payment Systems already has delivered on-site program training to key officials and personnel at the bank's headquarters in Pasadena. In addition, several of Community Bank's large employer clients already have expressed interest in moving forward with e-payroll via the PAYCHEK PLUS! payroll debit card, according to V. Charles Jackson, President and CEO of Community Bank.
"Our PAYCHEK PLUS! solution will give Community Bank an opportunity to expand their current suite of offerings available to clients," said Frank Smeal, President of the Fiserv division that handles bank outsourcing services. "Community Bank expects the e-payroll solution featuring the PAYCHEK PLUS! card to eliminate the traditional barriers most companies face in transitioning to e-payroll."
"The PAYCHEK PLUS! program provides banks not only with a complete payroll debit card solution, but also with a welcome source of fee-based, non-interest income," said Eric Miller, Chief Executive Officer of FSV Payment Systems. "FSV Payment Systems provides banks and their commercial customers with ongoing guidance, training and support, from inception to deployment and beyond, which ensures a successful e-payroll deployment - not just initially, but for the duration of the program."
FSV Payment Systems offers a robust suite of unique, host-based stored-value and payroll debit card solutions direct to large employers and to financial institutions through an exclusive agreement with Fiserv, Inc. The FSV Payment Systems processing platform is both proprietary and configurable, allowing for the delivery of both standard and non-standard programs based on consumer requirements.