Management Strategies

12:21 PM
Connect Directly
RSS
E-Mail
50%
50%

Debit Cards for Colorado’s Unemployed

Colorado residents who've lost their jobs and are eligible for benefits won't have to check their mailboxes for unemployment checks any more. Benefits will now be paid via Visa debit cards issued by Chase (JPMorgan Chase; assets of $1.6 trillion). The Colorado Department of Labor and Employment will provide Colorado Automated Payment (CAP) cards to eligible unemployed persons, with benefits deposited to the cards on a biweekly basis. CAP cards can be used by benefit recipients anywhere Visa cards are accepted. The new program will substantially reduce operating costs for the state government " postage savings alone will be almost $210,000 in the first year, and check printing and bank processing costs will be eliminated. Additionally, the debit cards will further the state's environmental goal of reducing paper consumption.

Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology Dec. 2, 2014
BS&T's 2014 Elite 8 executives are leading their banks to success, whether it involves leveraging the cloud, modernizing core systems, or transforming into digital enterprises.
Slideshows
Video
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.