Elan has designed its PayCard product to provide superior value to cardholders regardless of the cardholders’ money management preferences. It is not only valuable as a paycheck replacement, but has additional value and uses to employees. The Elan PayCard can be used to fund almost any payment to employees, including wages, commissions and reimbursement for items such as T&E, tuition, relocation expenses, and the like. The PayCard can also be used by Employees for Money Transfers, Money Management, Students, and others:

• College Students - An estimated 10+ Million college students are funded at least partially by parents contribution - Most college students receive regular payments from their parents to pay for living expenses for college or emergencies. Often the student must maintain an expensive checking account to accommodate these payments, or use costly check cashing agencies or money transfer services. The PayCard can eliminate these expensive services, as well as adding security, as the student would be required to carry less cash.

• Pre-College Students - Many Middle and High-School Students also receive funds from parents, as well as part-time jobs. Many travel without their families – whether as part of traveling athletic teams or arts groups – or internationally as part of school-sponsored tours. Many also purchase on the web or phone – for I-Tunes or other music, clothing, ring-tones, etc., and currently use their parents’ credit or debit card. The PayCard would provide them with their own access device, as well as providing a safe and valuable money management vehicle.

• International Money Transfers -  In excess of 10 Million US employees transfer money to relatives internationally. Many people regularly transfer money to relatives outside the US, and pay Western Union or Money Gram $15 - $40 or more per transfer. The Elan PayCard allows for money to be transferred on multiple cards, so that one card could be sent to the relative internationally and the cardholder could retain one for his or her own use.

• Household Use & Budgeting - An estimated 75+ million employees transfer funds to a family member for household use, or seek a low-cost budgeting tool for money management. Many families routinely transfer money within the household from a wage earner to another family member as for groceries, clothing, medical, allowance, and other living expenses. Others seek an inexpensive, convenient budgeting / money management tool. In families with a shared Checking Account, inability to reconcile between two users often causes one or both to abandon debit card use. For others, the advent of the MasterCard and Visa debit cards has caused them to overspend from their checking account the same way they overspent from their credit card. Still others seek a convenient, inexpensive way to manage their money independently from the household “pool”.

Risk-Free Shopping - Many cardholders like the safety of using the Elan PayCard to use for Internet / catalog shopping, as opposed to using the debit card attached to their checking account, to protect against identity theft, phishing, and other fraud. And the Elan PayCard returns any funds compromised by fraud, as long as it is promptly and properly reported.