Great for Direct Client Transfer Payments
What do you like best?
What I like best about Penny Inc. is that it has given our organization a platform by which we can provide direct transfer payments on reloadable cards, while eliminating overhead costs. Our agency provides food/fuel cards to clients in various programs which we administer, but we lacked the available to be able to track these services once cards were issued out to clients. Penny Inc. has allowed us to obtain additional insight to customer needs based on spending patterns, and recover funds from lost or stolen cards.
What do you dislike?
The dashboard can be a little slow, and you may need to refresh the page in order to continue working. Also the balance seems to be throw by a few pennies after loading or various fund transfers (deposits/card loads) but customer support by Penny Inc. is very responsive in helping clear these issues.
Recommendations to others considering the product:
If you don't know if Penny Inc is the right fit for you, call them and ask! They're very responsive, friendly, and accommodating. They'll let you know upfront whether or not their system will be able to handle your needs.
What problems are you solving with the product? What benefits have you realized?
Previously, we would obtain pre-loaded debit cards either via our financial institution (bank) or from a specific vendor (Wal-Mart, Grocery/Gas Store Chains) and had to pay a fee of around $5 per card that was being issued. With Penny Inc. there are no fees. We don't have to pay for cards, and the bonus is that they are reloadable, so each client receives 1 cards and multiple programs can provide funds into that one card over time. Cards can also be limited by vendor type (e.g. food stores, convivence stores) or alternatively you can leave them open and block certain industries (e.g. liquor stores) so that clients maintain flexibility of where to go to have their needs met, but stay within established program requirements.
