JPMorgan, Kelly Services Win Best Payroll Card Program Award

With the goal of raising its electronic payment adoption rate, Kelly Services in 2007 engaged JPMorgan to identify initiatives to further recruit employees to sign up for the payroll card program. Kelly Services partnered with JPMorgan and Visa to launch new incentive programs, including Kelly’s “Win with ePay Sweepstakes,” a six-week program that offered cash prizes and gifts.

Through the sweepstakes, as well as Kelly’s internal electronic pay promotions, Kelly Services increased its electronic payment adoption program rate by more than 50 percent. Today, more than $20 million in salary payments are being funded onto payroll cards each month.

“We value our partnership with JPMorgan and their commitment to providing innovative, cost-efficient, and secure payroll solutions,” said Joel Starr, Treasurer for Kelly Services. “Through the pay card program, our employees benefit by receiving their compensation quickly and efficiently.”

“We are proud to be recognized for our role in developing a payroll card program that has been beneficial to both Kelly Services and its employees,” said Rich Erario, Managing Director, Commercial Card and Electronic Procurement, Invoicing and Payables, JPMorgan. “Effective payroll card programs help companies reduce the processing and administrative costs associated with traditional paper-based payment systems. In addition, employees no longer have to pay check cashing fees, wait in line at the bank, or wait for the check to arrive in the mail.”

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.