PRZOOM - /newswire/ -
New York, NY, United States, 2009/01/15 - PEX Card now gives users the ability to set automated funding rules, including low balance triggers and balance restoration, making it simple to manage per diems and spending restrictions.
Prepaid Expense Card Solutions, Inc., announced the newest release of its administrative interface, which enables organizations to automate funding to employees for per diems, cash allowances, and cash advances.
Prepaid Expense Card Solutions, Inc is the provider of the PEX Visa® Prepaid Card, issued by The Bancorp Bank; Member FDIC. The PEX Card administrative website helps companies control spending on cards issued to employees, by setting merchant category restrictions, daily spending limits, and - now - automated funding options for replenishing card balances. Funding rules with balance restoration and low balance triggers make it simple to manage per diems and employee spending restrictions.
"It's never been more straightforward to automate routine employee funding," said Toffer Grant, Founder and CEO of PEX Card. "Whether per diems, allowances or advances - organizations can streamline their process. Plus, low balance triggered funding makes it easy to ensure people have the money they need as authorized by their employer."
Automated balance restoration is an ideal solution for companies who utilize per diems, allowances, and cash advances because it empowers administrators to automatically refill cardholder balances to pre-set, customizable amounts per employee. Importantly, the balance is restored, not added to, removing the need for employees to return excess funds.
This latest release of the user interface also includes the ability to automatically replenish a cardholder account when the balance falls below a pre-set minimum. This feature gives administrators the security of knowing that employees always have enough money available to do their jobs.
The PEX Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc.
About PEX Card
PEX Card (pexcard.com) develops card payment tools that help companies streamline their spending processes. As the prepaid card industry's first turnkey commercial card program, PEX Card customers apply for, optimize and manage their service online. The PEX Card Service provides visibility into cash flow and corporate spending.
PEX Card is privately held and is headquartered in New York City.
About The Bancorp Payment Solutions Group
The Bancorp Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc., offers secure, creative and innovative payment solutions to the prepaid card industry. As a leading issuer of prepaid cards, The Bancorp Payment Solutions Group contributes to the success of Fortune 500 companies through the development of cutting-edge prepaid card programs that meet the rapidly changing needs of the prepaid industry. Through long-standing relationships with the MasterCard, Visa, and Discover card associations, leading program managers and processors, The Bancorp Payment Solutions Group designs innovative and flexible prepaid card programs which deliver outstanding results.