That’s because of a new agreement between Aon and E-Duction to make available E-Duction’s Clear payroll deduction card.
According to a media release, employees can use the card anywhere MasterCard is accepted to buy products or services.
According to the announcement, merchants process the Clear card as they would a credit card. The worker can pay for the purchases through paycheck deductions interest free over two months.
The announcement said a typical employee earning $40,000 a year receives a Clear credit line of 2.5% of their annual salary, or $1,000.
If the employee pays for a $400 emergency auto repair using Clear, $100 is deducted from their bi-weekly pay for the next four pay periods, the announcement explained.
« SEC Examining Wilshire Mutual Fund Trades