November 3,
2006 02:00 PM EST
RTI Partners with Skylight
Financial to Provide “Checkless” Payday Options to Restaurant Employees
Unique
Skylight Debit Card Account Provides 100% Direct Deposit Capability, Even for
Employees Who Don’t Have a Traditional Bank Account
ATLANTA – RTI (Restaurant
Technology, Inc.), a leading provider of restaurant payroll software, and
Skylight Financial, Inc., a leading provider of account based direct deposit
solutions, will collaborate to provide restaurant operators with a unique
“paycard” option that allows them to provide an electronic payday for all of
their employees, even those who are “self-banked.”
Through this partnership, RTI
will be a referral agent for Skylight Financial’s account based, direct deposit
solution. With this offering, RTI’s payroll software users can provide an
FDIC-insured, direct deposit account to employees who do not have a traditional
banking relationship.
“Our customers currently pay
over ½ million people each year using RTI’s Payroll software,” said
“We are excited about our
partnership with RTI,” said O.G. Greene, Chairman and CEO of Skylight
Financial, Inc. “Our account based financial services complement RTI’s payroll
solution, and will be especially valuable to quick-service restaurant operators
and their employees.”
The
Skylight account is an account for which all employees are eligible*. It is
owned by the employee and may be taken with him if he leaves the employ of the
restaurant operator. This is particularly important in today’s quick-service
restaurant environment where employee turnover is high. Employees get the
benefits of a “bank account in a card” by having safe and convenient access to
their money and monthly statements, like a traditional account. Unique optional
features, such as a Sub Account to transfer funds internationally and a Bill
Pay Service, offer additional benefits without expensive fees.
For
the restaurant owner, Skylight provides a path to achieve 100 percent direct
deposit for payroll. Since Skylight administers the entire program, companies
save time and reduce overall payroll costs. “With the cost of payroll check
generation and distribution estimated at $2.35 per employee per pay period, the
immediate and compounded savings for most organizations can be significant,”
said Mr. Greene.
* Contingent upon payroll Direct Deposit and
identity verification.
About RTI
(Restaurant Technology, Inc.)
RTI (www.internetRTI.com) is
a leading developer of technology solutions for the quick-service and
fast-casual restaurant industries. Today, more than 9,000 restaurants across
the
About Skylight Financial,
Inc.
Skylight Financial, Inc. (www.skylight.net), based in
Contacts:
Vice President – Sales &
Marketing
Restaurant Technology, Inc.
(RTI)
ph: 770-590-4300
fax: 770-590-4313
Wendell Schanz
Vice President —Business
Development
Skylight Financial, Inc.
ph: 404-592-3683