ST. LOUIS, MO--(MARKET WIRE)--Apr 26, 2004 -- TALX Corporation (NasdaqNM:TALX - News), a leading business process outsourcer of payroll-data centric services, today announced that Money Network can bring electronic paystubs to its payroll card clients through TALX ePayroll Services.
The combination of payroll cards and electronic paystubs in a paperless payroll environment enables employers to eliminate paper checks as well as paper paystubs, even for people that do not use direct deposit. With payroll cards, companies disburse wages using a stored value card that works similar to a PIN-secured debit card. Once an employee's pay is deposited electronically into a payroll-card account, cash can be withdrawn from automated-teller machines or the card can be used to make purchases at stores, restaurants and other retail outlets. Electronic paystubs replace the paper pay statement and are available at a password-protected website through an Internet connection.
"The cost of processing, printing and distributing paper checks is nearly eliminated by moving to a combination of direct deposit and payroll cards," said Rich Jackman, President and COO of Money Network. "By including electronic paystubs, clients have a complete paperless solution that provides employees with easy access to their pay statements as well as their pay."
Through a close integration with Money Network, TALX provides an immediate, paperless enrollment solution for employee payroll cards while eliminating employer's information technology expenditures. Money Network maintains the payroll card accounts for the employer and its employees.
"TALX ePayroll Services lets employers eliminate the paper pay statements by providing electronic paystubs as well as direct deposit maintenance and W-4 updates. These services simplify the distribution of payroll information to employees across the United States," said Jim Canfield, director of TALX ePayroll Services. "Plus, employers realize significant cost savings by eliminating paper from the payroll process."
About Money Network
Money Network is the payroll card joint venture partner with First Data Corporation (NYSE:FDC - News). The combination of Money Network and FDC results in the combined companies delivering a vertically-integrated electronic payroll distribution mechanism, providing our customers the ability to eliminate the expense of paper payroll checks and our cardholders the convenience, safety and savings of not having to deal with paper pay checks.
About ePayroll Services
ePayroll Services include PayStub Review, PayCard Integration, Direct Deposit Maintenance and W-4 Update. These services provide employees with self-service access to their pay information via the Internet or telephone, 24 hours a day, 7 days a week. For clients that use multiple services of The Work Number, a single sign-on server is available to provide additional efficiencies.
About TALX Corporation
TALX Corporation is a leading business process outsourcer of payroll- related and human resource services. TALX holds a leadership position in two key employment-related services -- automated employment and income verification services via The Work Number® services and unemployment cost management services via UC eXpress(SM). TALX also provides paperless payroll services, W-2 services, automated time entry and approval services and candidate screening services. Based in St. Louis, Missouri, TALX empowers users to complete transactions independently utilizing available multimedia including Web, interactive voice response, speech recognition, fax and e-mail. The company's common stock trades on the NASDAQ Stock Market under the symbol TALX. For more information about TALX Corporation, call 314-214-7000 or access the company's Web site at www.talx.com
Statements in this press release expressing the expectations of management may be forward-looking and involve uncertainties. TALX risk factors are detailed in documents filed with the Securities and Exchange Commission.
Laura H. Browder
Source: TALX Corporation