Dalrada Financial Corporation announced that it has launched a new service tied to its debit-credit card program — Payday Advances. Dalrada client companies currently have the option of providing payroll services to all employees through Dalrada debit cards, which was announced in February 2004.
The debit card is offered as a component of providing outsourced payroll solutions to Dalrada clients who may have a high percentage of hourly employees — many of whom may not have traditional bank accounts. This “unbanked” population is estimated to be as large as 55 million in the U.S. Effective today, Dalrada will provide these employees the option of borrowing up to $500 against the next paycheck. This “payday advance” provides employees access to cash for emergencies and other unexpected expenses between paychecks. Dalrada’s fees for this service are below the fees charged by retail check cashing-payday loan businesses.
The Dalrada debit card (backed by U.S. Bank) is an ATM debit account that offers employees a pay-as-you-go approach, meaning that the cardholder pays for transactions as incurred. The account is FDIC-insured. In addition, the card offers other benefits such as personal security, access to other financial services, protection of deposits, and a cost-effective alternative to other check-cashing options.
Payroll checks are issued automatically to the employee’s account. Cardholders/employees have access to their money 24 hours a day, 7 days a week at over 200,000 ATM locations worldwide. The account can also be used to safely and inexpensively move funds between countries, such as between the U.S. and Mexico.
The Company offers several convenient services with the debit card, including a monthly statement, on-line and telephone customer service, joint accounts and money transfers.
The Dalrada debit card system provides a wide variety of conveniences to employees of its client companies, including access to a “virtual bank account.”
The Company currently provides a variety of innovative financial services to businesses, including comprehensive human resource administration and employee benefits such as health insurance and 401(k) plans. These services enable small employers to offer benefits and services to their employees that are generally available only to large companies.
About Dalrada Financial Corp.
Dalrada Financial Corporation (OTC Bulletin Board: DRDF) was founded in 1982. Headquartered in San Diego, California, the Company provides a variety of professional services related to human resources to businesses. A number of Dalrada’s subsidiaries, including SourceOne Group, and ProSportsHR(TM) are professional employer organizations that provide a variety of personnel and human resources services to small to medium-sized businesses. Further information can be obtained on the following Internet sites: and . The Company’s MedicalHR(TM), and CallCenterHR(TM) subsidiaries are temporary staffing organizations, which provide full-service staffing services to specialized industries.
The Company owns controlling interests in Quik Pix, Inc. (Pink Sheets: QPIX), a leading visual marketing support firm located in Buena Park, California. The Company’s patented PhotoMotion(TM) is a unique color medium of multi-image transparencies. Information on the Company is available at . QPIX also produces and distributes the Company’s other Imaging products, including its proprietary suite of ColorBlind(R) software, which is devoted to color management for desktop and commercial printing and graphic arts. More information is available at .
Information on the Company is available at its Web site at .