Program Enhances Value Throughout the Cardholder Experience
HENDERSON, Nev. – June 6, 2023– (Business Wire) – Paysign, Inc. (NASDAQ: PAYS), a leading provider of prepaid card programs, comprehensive patient affordability offerings, digital banking services and integrated payment processing, today announced their partnership with Spentra, a fintech company specializing in pay access solutions for employers and employees. Paysign’s partnership with Spentra enables payroll card issuing utilizing the Mastercard® network.
This partnership allows Paysign to provide a full-featured payroll debit card program that seamlessly integrates with Spentra’s Money Earned® pay access system, enhancing the cardholder experience and delivering essential money management tools.
Cards issued for the Spentra program include an EMV chip, enabling additional protection from identity theft and fraud. Along with the added security and flexibility, this partnership consolidates payment-related services to a single provider, removing friction from the cardholder experience.
This integration delivers added insights into cardholder behaviors and interactions, providing a new level of analytics for Spentra. The all-digital engagement model and mobile app allows users to instantly activate their cards and manage their pay.
Paysign’s President and COO, Matt Lanford, stated, “We’re thrilled to have Spentra as a partner and look forward to the growth and innovations our alignment will bring to both companies. We are excited for future phases of our product development with Spentra and continuing to bring value to their clients and end users.”
Spentra’s COO, Wayne McHugh said, “Our overall objective at Spentra was to create a card platform that provided employers and their employees with the options that mean the most to both groups. Paysign has the solutions, technology and technology roadmap within the payment space that are the best match for our customers. We wanted to find a partner that aligned with our interests and primarily did everything in-house – specifically, within customer care, payment processing and technology – which many other providers tend to outsource. We are excited to grow this partnership with Paysign.”
Paysign, Inc. (NASDAQ: PAYS) is a leading provider of prepaid card programs, comprehensive patient affordability offerings, digital banking services and integrated payment processing designed for businesses, consumers and government institutions. Founded in 2001 and headquartered in southern Nevada, the company creates customized, innovative payment solutions for clients across all industries, including pharmaceutical, healthcare, hospitality, and retail. Built on the foundation of a reliable payments platform, Paysign’s end-to-end technologies securely enable digital financial services and facilitate the distribution of funds for donor compensation, copay assistance, payroll, customer incentives, employee rewards, travel expenses, per diem, reimbursements, gift cards, rebates, and countless other exchanges of value. Paysign’s solutions lower costs, streamline operations and improve client, employee and partner loyalty. To learn more, visit paysign.com.
About Spentra LLC.
Spentra LLC., a fintech company, took off in 2008 and is designed to service the wants and needs of both the employer and employee. As a team that has deep operational experience across multiple industry sectors, the results that followed was an automated solution that brings the best paycard industry along with patented features that benefit employees both at and away from work. A complete automated, anytime, anywhere pay access solution, intended to improve financial stability and help with employee retention. Spentra also offers Money Earned®, a patented benefit, that allows employees to access up to 50% of their net wages at the time of request, at no cost to the employer. To learn more, visit spentra.com.
COO, Spentra LLC.
Alicia Ches, Director of Marketing