Exhibit A
Disbursements Software Product Description and Overview
The Disbursements Software is Rapid’s proprietary software, APIs, processes, user interfaces, know-how, techniques, designs, ideas, concepts, and other tangible or intangible technical material or information provided to Client through remote electronic access. The specific software and services Client is procuring will be identified in the Order Form. Features and functionality are described below:
Court Funds: The Payment Management Program of Court Funds streamlines the process of paying recipients through our electronic funds transfer process utilizing prepaid cards as well as other digital solutions.
Release Pay: The Correctional Exit and Work Release Card Payment Program of Release Pay streamlines the process of providing Participants access to inmate trust funds. Through Release Pay, Rapid will provide a turnkey solution of paying Correctional Participants through an electronic funds transfer process utilizing prepaid cards, as well as other digital ACH solutions.
Disbursements Software Process Overview:
- Rapid will provide Client with an inventory of Disbursement Pamphlets and continue to fulfill inventory requirements per the Client’s usage.
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Rapid provides Client with the account numbers and Client is responsible for assigning each individual recipient with one of the account numbers and providing the Disbursement Pamphlet to the recipient. The Disbursement Pamphlet contains the prepaid debit card (“Card”), the terms and conditions that govern the use of the Card, (“Cardholder Agreement”); information on how to contact customer service and other FAQ that might be useful for ease of use.
- When Client is ready to pay the recipient, Client will provide Rapid with the payment file or payment instructions detailing the tokenized account number, recipient’s information, and the amount to be loaded onto the Card and once received by Rapid, Rapid provides the same details to the Sponsor Bank, and the Sponsor Bank loads the funds to the Cards, which will be immediately available on the associated Card.
- Options that the recipient will have to access their funds:
- Use the prepaid Mastercard at any retail location that accepts Mastercard.
- Cash out the card at a principal MasterCard l bank (All major banks).
- Instantly transfer funds to a personal debit card.
- Direct deposit into their personal bank account.
- Push to their PayPal or Venmo account.
- Request a paper check.
- Donate the funds to a charity of their choice.
- Use the funds to purchase a gift card.