National City Corp. of Cleveland said Thursday that it has begun issuing a Visa stored-value card through which employers can fund various payments to employees.
The card, which can carry the employer's logo, can be used for payroll, incentive programs, relocation, reimbursements, and insurance claims as well as at automated teller machines and merchants that accept Visa debit cards. The employee cardholder need not have a Nat City bank account.
The office furniture company Kimball International Inc. of Jasper, Ind., is pilot testing the card for employee reimbursements in a sales incentive program. "Kimball was already using a third-party supplier for a stored-value product," but it was expensive, said Karen Norris, the company's cash manager, in Nat City's press release.
