Below is an overview of the services Flexm offers.
The payroll card solution Flexm offers is a flexible and cost efficient method of managing payroll, by using prepaid cards. Prepaid cards are payment cards that provide access to a prepaid value, rather than a line of credit. Payroll cards provide companies a convenient, low-cost method for disbursing salary and wages to employees. For unbanked employees, the payroll card offers valuable benefits by eliminating check- cashing fees and providing a more convenient and secure way to receive and access funds. Payroll cards help employers to reduce payroll costs, increase processing efficiency and build employee loyalty. Employers can use payroll cards to deposit their employee´s pay to the prepaid account, if the employee does not opt for direct deposit to a bank account or does not have a bank account.
Consumer prepaid cards provide consumers access to a prepaid value rather than a line of credit. The cards can be loaded up with funds, and then be used to pay bills, in-store purchases, and online shopping. The advantages with prepaid cards include being safer than carrying cash, worldwide functionality with Mastercard acceptance, and not having to worry about paying credit card bills or going into debt.
Virtual cards are an exciting and cost efficient development for single payments and payment products that are designed only for use in virtual environments, for example e-commerce or other distance selling channels. These virtual prepaid cards can be used at any merchant for e-commerce or other ‘card not present’ transactions, providing the same spending capability as a physical card but without any of the expenses and time taken in manufacturing and distributing the plastic cards themselves.
Corporate Expense Cards
Corporate expense cards are ideal for employees, vendors, and consultants of companies who are unable or not willing to provide a corporate credit/debit card. The card can be used to pay for a range of business-related expenses including: business travels and entertainment, purchasing of goods and services, replacement for petty cash, business meetings and functions, expenditures specific to projects, and per diems for consultants and temporary employees. The card is best used when the company wants a more cost-effective method of payment versus cash or checks.