Reduce Expenses And Improve Efficiency For Payroll Transactions With Payroll Cards

Service industries such as retail, hospitality and manufacturing may have a higher

percentage of employees that may not have access to a checking account. The use of a payroll paycard can help employees access their earning through direct deposit. Payroll cards are a fast and convenient solution to decrease the cost of payroll services for your company. In addition, the cards offer several benefits to both employers and employees.

Implementing the cards can significantly reduce the cost associated with producing paper checks. Transferring to a paperless system can help your company save on the cost of printing, issuing and mailing the checks. Utilizing the cards also helps decrease the cost of reissuing lost or stolen checks due to the strict security measurements associated with the payroll debit card.

Security is also an additional benefit to transitioning to a paperless system. A payroll debit card with a Visa or Master card logo are also Reg-E compliant. Cards that are regulated by Reg-E have processes in place to manage transactions. As a result, the cards provide numerous safeguards against fraud. In addition, the funds can only be accessed with a pin number prior to each transaction. With the benefits provided by the card, organizations are able to utilize a more secure method to transfer funds to employees.

Most importantly, payroll cards provide a significant benefit to employees. The cost of cashing a check is reduced by direct deposit. Employees are also able to easily access their funds without having to wait for the arrival of the payroll checks at home or having to return to a work site to pick up their checks. Employees are able to select from branded and unbranded payroll cards. Unbranded pay cards only provide access to the funds at an ATM. Branded cards have a Visa or Master Card label on the cards and provide employees with the additional convenience of making purchases in retail stores. Payroll debit cards can be utilized to pay for purchases by directly entering a pin number.

Incorporating a payroll card into your organization can be completed efficiently. The payroll cards will help streamline the payment process and can be implemented in a reasonable time frame. The benefits associated with the cards provide employees with a solution to having easy access to their earnings. Company employees will no longer have to be concerned about when they will receive their paychecks after transferring to a payroll paycard.

by: Jonathon Zebedde

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