ePaynews.com Jun 24 2008 :ePaynews.com - the payment news and resource Center
The Washington, DC, Department of Employment is using prepaid debit cards to pay the wages of 19,000 workers participating in a summer youth employment scheme.
The 2008 Passport-to-Work Summer Youth Program offers young people an opportunity to work on a temporary basis in a wide range of occupations. The 10-week program is offered to young people living in DC who are aged 14 to 21.
The prepaid Visa cards are issued by JPMorgan Chase as part of its Payroll debit card program, which was first launched in 1987. Processing for the cards is also provided by JPMorgan.
The cards can be used at the point of sale or at ATMs with a PIN. They are reloadable and will be funded twice a month during the 10-week program.
“We hope the real-life experience gained by using payroll debit cards to budget and purchase items will help these students become responsible for their own finances,” says Dr Natwar M. Gandhi, chief financial officer for the District of Columbia.
Another advantage of the cards is that, by not incurring check-cashing and bank account fees, they will save the workers money, Gandhi says.
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