SIOUX FALLS, S.D.--(BUSINESS WIRE)--401Play, which offers a novel vacation savings account (VSA) program, has chosen the BlazePays℠ Visa® Prepaid Card from Capital Prepaid Services as the program’s savings tool. The card will be used by employers to help encourage and motivate employees to save for vacation via 401Play.
Similar to a retirement savings account, a 401Play VSA helps employees save for recreation through post-tax payroll deductions that are loaded directly onto a BlazePays card. Employees can set aside a portion of their paycheck for their VSA, which they can access for any reason to pay for goods and services anywhere Visa is accepted.
According to industry research, 59 percent of employees did not use all of their vacation last year, continuing an almost two-decade trend. One reason is affordability, since employees who don’t save and plan for vacation tend to take less time off even when they have earned it.
“When employees don’t take time off they become burned out, which can lead to health problems and poor quality of work and negative productivity,” said Greg Nickolson, president of 401Play.
“Americans aren’t good at saving money. And if employees don’t save for a vacation they are less likely to use their paid time off,” Nickolson noted. “With the BlazePays 401Play Vacation Saving Account, employers can encourage their employees to save for their vacation, using a simple and cost-effective tool.”
With the BlazePays 401Play VSA, employers have a new benefit tool to help employees save for the time off they deserve.
The BlazePays 401Play VSA is available to employers of all sizes. Employers pay an annual fee based on the number of employees. Each participating employee receives a personal BlazePays prepaid card, which is used like a savings account attached to a convenient payment card. Employers load money onto the card based on the employee’s requested payroll deduction. The 401Play program includes discounted travel for hotel, airfare, cruises, rental cars and more.
“The BlazePays card paired with 401Play’s VSA is the perfect tool to help people save for vacation,” said Mike Olafson, vice president of Capital Prepaid Services. “When employees take vacation they return rejuvenated and motivated, which improves productivity. We’re glad that the BlazePays card can be a part of that.”
With 401Play employees can more easily save for vacation using its unique employer sponsored vacation savings account. By setting aside a portion of each paycheck employees can better plan and save for the vacation time they have earned. 401Play also offers planning and travel services that offer deeply discounted rates for hotels, airfare, rental cars and more, helping people live happier and healthier lives through travel.
About Capital Services
The reloadable BlazePays Visa Prepaid Card is the brand servicemark of Capital Prepaid Services of Sioux Falls, South Dakota. Capital Prepaid provides full-service program management and processing services for prepaid cards offered by financial institutions, corporations, retailers, and government entities. Established in 2011, it is a sister company of Capital Services, an innovative payment portfolio management and servicing company. The BlazePays Visa Prepaid Card is issued by First Savings Bank of Beresford, South Dakota, member FDIC, pursuant to a license from Visa USA Inc. Visit CapitalPrepaidServices.com to learn more about its prepaid servicing models.
While there is no credit check or credit approval required to open a BlazePays prepaid card account, the USA Patriot Act requires all financial institutions obtain, verify, and record information that identifies each person who opens a BlazePays card account. When a card account is opened, the consumer is required to provide their full legal name, address, date of birth, and other information for identification purposes. Consumers may also be asked to show their driver's license or other identifying documents at any time.
Use of the BlazePays Visa Prepaid Card to deliver payroll will be subject to all applicable state and federal payroll laws and may not be appropriate in certain states.