General purpose pay disbursement solution for organizations large and small
What is MintCheetah™?
MintCheetah is the easy and reliable way to electronically manage payment disbursements — from the small and niche, to the large and complex. Administer uncategorized payments such as media, rebates, corporate incentives, GPR payouts, and more.
With MintCheetah you can:
- Curtail unclaimed property and escheatment incidents
- Eliminate lost or stolen checks
- Reduce check fraud risk
- Reduce bank account reconciliation time
- Increase efficiency through contactless technology
- Offer unbanked consumers instant convenience and security — cardholder funds are safe and secure in an FDIC-insured account
- Provide peace of mind — if a card is lost or misplaced, the cardholder can immediately turn off the card in their mobile app, and reactivate when a replacement card is received
- Offer a feature-rich, modern banking solution for unbanked consumers — deposit checks, receive employer direct deposits, make transfers, load cash, pay online bills, use ATMs, track account balances, and more
- Reduce cash handling on site
- Slash disbursement costs
- Integrate directly with accounting and financial systems
- Integrate directly with benefit/incentive software
Pay clients and beneficiaries instantly and securely
DIRECT DISBURSEMENTS
- Make funds available to beneficiaries immediately after being paid
- Avoid the time, hassle and cost of issuing paper checks and buying postage
- Provide beneficiaries access to payment info on mobile devices
- Beneficiaries have multiple ways to spend their money, with no fees
- Card option is convenient if beneficiaries don’t have a bank account or if they want to keep payments separate
MULTIPLE WAYS TO RECEIVE FUNDS
- ACH
- Direct deposit
- Bank transfer
- Gift card
- PayPal
- Pre-paid card (physical or virtual)
Paper checks versus electronic payments: the differences are clear
88%
organizations who have converted to electronic payments as a way to increase efficiency
Source: 2018 AFP Payments Cost Benchmarking Survey
74%
organizations that have experienced check fraud
Source: 2020 AFP Payments Fraud and Control Survey Report
$7.78
the average cost to issue a paper check — implementing electronic payments can save up to 93% in costs annually
Source: Aberdeen Group
Cost Comparison
500 checks per month
| Paper Checks $7.78 per check |
Electronic Payments Nominal fee |
|
| Daily | $130.00 | $8.16 |
| Monthly | $3,890.00 | $245.00 |
| Annual | $46,680.00 | $2,940.00 |
| Savings | 176.3% |