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Frequently Asked Questions

Program Overview

Employees will find the program very simple. All employees who meet the eligibility requirements are automatically qualified – there is no credit check. Eligible employees can register through the Purchasing Power website at any time and view our online catalog. Once registered, they will be able to shop for products and services like computers and tablets, home appliances, fitness equipment, educational services and vacation packages. The employee will know the total price up front and how much will be deducted from each paycheck over a 6 or 12-month period. Orders are sent to the employee’s home and payments are deducted from his/her paycheck and remitted back to Purchasing Power.

Purchasing Power closes the gaps in your benefits strategy. Our program is a tangible benefit that employees can enjoy year-round. It is an excellent supplement to an existing discount or tuition assistance program because it works best for those employees who do not have the cash or credit to pay in full up front. The program also supports your wellness benefits strategy by providing a way to pay for personal fitness equipment for those employees who cannot use the company gym. Regardless of credit status, all eligible employees can benefit from Purchasing Power.

Once launched, the program typically yields an annual participation rate of 10-20%. There are many factors that affect the participation rate, the most important one being the ability to effectively communicate the program to employees.

Purchasing Power assumes all the risk for the program. Employers never have to get involved except to inform us about changes in employees' status. This is easily done with an eligibility file.

After confirmation of termination, we work directly with customers who still have a balance by:

  • Informing customers about the balance
  • Offering a way to set up an installment payment plan via ACH debit or credit card
  • Working with customers who need to set up alternative payment mechanism

 

Cost & Administration

There are no implementation or participation fees for the employer. Purchasing Power assumes all liability associated with purchases, even for terminated employees. The employer is only responsible for managing the payroll deduction process and approving employee communications program.

We have a Client Services team dedicated to ensuring minimal administration. Having launched hundreds of clients, we have refined our processes to enable smooth implementations that don’t disrupt our clients’ normal flow of business. During program implementation, we will discuss how business processes can be automated to eliminate manual intervention. Management of the program is minimal for Payroll and HR departments – only 2-4 hours per month on average to administer.

No. Presently, state and federal laws do not provide for this option.

Data Security

Your employee data is secure. We are PCI and SAQ D Compliant to ensure that our customers have a secure shopping experience. We treat our customers’ data with the utmost security standards. PCI Compliance, Red Flag Rules Compliance and ID Authentication help to protect our customers’ identities and prevent fraud. Our security standards are compliant with Fortune 100 company security expectations.

Employee Support

Purchasing Power supports employees throughout the entire ordering process: qualification, purchasing, shipping, payments, and customer service. Purchasing Power can be accessed online 24/7 and customer service is available by phone and online chat 6 days a week.

Marketing

Purchasing Power’s Marketing team will create and fund the employee marketing collateral related to the program. Employee communication may include launch mailers, postcards, emails, and information for your intranet, if applicable. Additional communication channels may be identified that are unique to your organization. We can brand the collateral with your name and approved logo, specific participation requirements, and reference materials for your employees. Your Account Manager will work with you to make sure that all materials earn your approval prior to being distributed to your employees.

Product Offering & Competitive Pricing

Our online catalog includes more than 50,000 products and services. We are continuously optimizing our superior product offering based on active feedback from our customers and by studying consumer trends.

Yes, our pricing is competitive. Cash is the best way to buy, but when cash or credit is not an option, our program helps address short-term financial strains and provides flexibility our customers need. We have a pricing policy guarantee to ensure our pricing remains competitive. We also offer a robust promotional calendar that reduces prices for your employees – the majority of purchases have an average discount of 10% lower than our standard pricing.