Spentra and Paysign: A Partnership Revolutionizing Payroll Solutions

Posted - June 6, 2023

We're thrilled to announce a significant development at Spentra that will further our commitment to creating innovative financial solutions that make a difference. We have formed a strategic partnership with Paysign, Inc., a leading provider of prepaid card programs, comprehensive patient affordability offerings, digital banking services, and integrated payment processing.

Paysign is renowned for their industry-leading solutions, and we couldn't be more excited to collaborate with them. This partnership brings together Paysign's powerful resources and our own unique offerings, most notably our Money Earned® earned wage access service. The synergy of our combined efforts has enabled us to develop a full-featured payroll debit card program that integrates seamlessly with our Money Earned® service.

Our focus has always been to improve the financial experiences of our users. With this partnership, we're enhancing the cardholder experience by providing essential money management tools and increased security. All the cards issued for the Spentra program will include an EMV chip, which provides additional protection from identity theft and fraud. Furthermore, we're simplifying the process by consolidating payment-related services to a single provider. This helps to remove friction from the cardholder experience, making it easier and more convenient for users to manage their finances.

This integration isn't just about offering more features and services. It's about gaining deeper insights into cardholder behaviors and interactions. This new level of analytics will help Spentra serve its users better by understanding their needs and behaviors more comprehensively. Plus, our all-digital engagement model and mobile app allow users to instantly activate their cards and manage their pay, providing an intuitive and user-friendly experience.

Our COO, Wayne McHugh, shared his excitement about the partnership, saying: "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".

In short, this partnership isn't just a win for Spentra and Paysign—it's a win for our users. Together, we're pushing the boundaries of what's possible in the fintech space. We're excited about the innovations that our alignment will bring, and we're looking forward to bringing more value to our clients and end users.

Stay tuned for more updates on this exciting journey as we continue to innovate and make a difference in the financial space. Together, we can revolutionize the way people manage their money. Here's to a future of growth and success together!