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E-Duction is at the leading edge of a growing trend in payment
technology. Through the years, consumers have enjoyed an expanding
range of payment choices - from cash through checks, credit
cards, debit cards, and stored-value cards. At the same time,
the appeal of payroll deduction has continued to grow. Whether
for employee benefits such as health or life insurance, for
retirement savings through 401(k) plans, or for college savings
through Section 529 plans - employees enjoy the convenience
and dependability of payroll deduction.
E-Duction recognized an opportunity to allow employees to
use payroll deduction for other purposes. The challenge, however,
was that the payroll deduction process had always been manual,
time-consuming, and error-prone. Thus, employers were unwilling
to offer their employees the greater choice payroll deduction
can afford them.
E-Duction eliminates this barrier with its proprietary solution.
By seamlessly interfacing with payroll and human resources
information systems, the E-Duction system dynamically and
automatically converts an unlimited number of transactions
from any source into a user-defined number of payroll deductions,
schedules the deduction, and makes and reconciles payments.
Thus, we allow employees to utilize the power of payroll deduction
without any burden on employers.
Clear
With Clear, employees gain a powerful
innovative voluntary benefit that leverages the power of payroll
deduction to pay for anything -- wherever MasterCard®
is accepted -- without a burden to their employers' payroll
systems. Clear allows employees
to pay for personal, business and emergency expenses directly
from their paychecks without incurring interest charges or
late fees*.
Payroll Exchange
Payroll Exchange, the technology behind Clear
that allows employees to initiate payroll deductions at the
point-of-purchase‡, can convert an unlimited number
of transactions from any source into a user-defined number
of payroll deductions. Payroll Exchange is a new channel for
delivering employee benefits that enables benefits
brokers, consultants and carriers to offer more products
because it eliminates operational roadblocks. With Payroll
Exchange, the full value of the employee relationship can
be realized, increasing revenue and strengthening client relationships.
*Terms and Conditions Apply. Please see Important
Disclosures for more information.
‡ Subject to state law.
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