Payroll

The Prepaid Payroll Card holds enormous potential for payroll specific companies as well as numerous other companies with a medium to large staff contingency (e.g. Construction,
healthcare and retail).

Many companies' workforce could benefit from direct deposit on a Prepaid Payroll Card. Available in clients own corporate brand, Prepaid Payroll Card solutions offer clients an audit trail for employee expenses. For the employer, it provides the opportunity to cut costs on processing payroll. This is especially true in those industries where significant numbers of cheques are produced and distributed. By providing a prepaid debit card, the employer is able to load that card with the employee's wages within minutes, efficiently
and cost effectively.

The employees receive the funds on a card rather than having to cash a cheque and it gives them access to shopping on the Internet or through the traditional retail environment. Cardholders do not need to carry cash around. For the non-banked, this solution removes the inconvenience and cost of exchanging cheques for cash, whilst providing the benefits of a Debit Card such as access to the online world of payments.

Cash Management
Employers can deposit the weekly/monthly payroll cash to a settlement account. Until the employee withdraws the funds, the float will earn interest for the employer. Funds are held at a MasterCard® settlement account.

BACS returns solution
The card is significantly easier to manage for all in the value chain. This is especially true in those industries where there is a high employee turnover or employees are transient workers.