Products June 11, 2003

PA Firm Gets Patent for Payroll Deduction Card

June 11, 2003 (PLANSPONSOR.com) - A Pennsylvania company announced that it had received a patent for its CLEAR product allowing workers to purchase goods and services with a card funded via payroll deduction.

Reported by

Fred Schneyer

E-Duction of Blue Bell, Pennsylvania, said the card used to purchase the goods and services is good at more than 29 million locations worldwide where MasterCard is accepted. E-Duction unveiled CLEAR in July 2002.

This patent will add to a list of intellectual property that E-Duction has developed in the emerging market for payroll deduction products, the company said. “We view it as a key asset contributing to the long-term value of our company, and a competitive advantage that will serve our partners, clients and shareholders well into the future,” Kirk Watkins, President and CEO of E-Duction in a statement.