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Meta Payment Systems in conjunction with EduCard, LLC
proprietary software announces IntelleCard™, Paperless
Payments Direct from Universities Financial Operating
Application. With IntelleCard, millions of college
students, who are enrolled at any institution, no longer
have to wait in long lines or cash checks to receive
refunds or paychecks with this new service.
The money a student receives either from financial aid
or payroll is automatically loaded on the college
student’s Prepaid VisaŽ card, which can be used like any
other prepaid Visa card, Dixie State College Revenue
Director Carlene Holm said. “This method replaces the
use of paper checks, which have been problematic for
both the college and students.”
“It’s frustrating for students to be handed a $1,500
check when they need to go buy books,” said Holm.
“Students no longer have to go to a bank to cash the
check first, which is difficult without a car and
annoying if there is a bank fee. Then there’s the factor
of just waiting in line for the check.”
With these Visa prepaid cards, college administrators
don’t have to worry about checks that aren’t cashed or
picked up. The cards can be used for a variety of
purposes. Students may use the card to buy books, draw
cash from an ATM, spend the money anywhere Visa debit
cards are accepted, or deposit the money into a checking
account. This method will eliminate the use of paper
checks for more immediate and secure access to funds.
Under the Agreement, MetaBank is the issuing bank and
EduCard will manage the card programs for the higher
educational institutions. “EduCard is focused on
aggressively developing and marketing prepaid Visa
cards,” Ben Chillemi, COO of EduCard, LLC, emphasized,
"We selected Meta Payment Systems for their unparalleled
leadership, financial viability, and their premier
standing with the various card associations. The
combined ability of MPS and EduCard will create a
card-issuing platform that will have unique execution
and product capabilities."
“Since IntelleCard is a free upgrade to the Universities
existing financial aid administration software, it is
currently installed at over 800 Universities. Our system
is managing the Universities student financial database
and issuing billions of dollars with paper checks,
switching to cards unleashes tremendous savings
utilizing the existing administration and IT personnel
with minimal procedural changes,” according to Michael
L. Mattos, President / CEO of EduCard, LLC.
Ian Stromberg, Director of Business Development for Meta
Payment Systems, said, "EduCard brings to this
relationship a drive to create innovative card products
for the higher education market. The IntelleCard product
is a natural fit for EduCard’s clients since it’s a
seamless process for the university to upgrade their
financial aid software."
About Meta Payment Systems
Meta Payment Systems, a division of MetaBank, offers
card issuing and program support to banks, processors,
and third-party distributors seeking to develop, market
and manage stored-value cards. Meta Financial Group,
Inc. (NASDAQ NM: CASH) is the holding company for
MetaBank. For more information, call (605) 275-9555, or
visit
http://www.metacash.com |
