JetPay Corp. is providing clients of its payroll services department with a money-access prepaid Visa card as the first phase of a planned national rollout of the new card.
The MAC-branded general-purpose reloadable prepaid card operates like a "checkless checking account" that enables everyday shopping and financial services, JetPay states in a March 18 press release.
Berwyn, Pa.-based JetPay recently hired payments industry veteran Ralph Bianco to oversee the company's new prepaid division.
The card offers users two pricing options through JetPay's payroll processing channel. MAC One is intended for individuals who do not have a bank account and are in need of a card for basic payments. MAC Choice targets consumers with bank accounts, and is intended to be used as a budgeting tool, JetPay says.
The Choice card can be customized with controls to help consumers manage household expenses, save for a future purchase or handle occasional funding for students.
Both cards accept deposits from employers, tax refunds, government payments or cash through the Green Dot network, JetPay says.
JetPay charges $1 a month, or provides the card for free depending on options the consumer chooses. There are no swipe fees associated with the card, JetPay says.
"We are focused on developing and launching products that are designed for the takers and not the makers," Bianco states in the press release.
Additional national MAC programs are in development that will address the needs of consumers and businesses outside of the payroll processing channels, Bianco adds.