Employers and Employee Payroll Providers

Reduce Employer Payroll Costs and Improve the Lives of Employees

When it comes to employee retention, the most important employer provided benefit is payroll. Yet, most companies offer only two employee payroll options; Direct Deposit to a bank account or Paper Check. Direct payroll deposit is low cost for employers and convenient for employees with bank accounts. However, many employees are unbanked so direct deposit is not an option. Those employees receive paper checks which are expensive for employers and inconvenient and costly for employees.

The Convenient Visa^® Payroll Card program enables employers to eliminate high cost paper checks by issuing payroll cards to unbanked employees and making payroll deposits to the cards electronically. Payroll cards convert unbanked employees into virtually banked employees. Employers save money by reducing administration and handling costs, eliminating nearly all mailing expenses, reducing the risk of fraud, and eliminating lost and stolen checks. Employees benefit from the convenience of a Visa payroll card that eliminates check cashing fees, allows cash access and merchant purchases anywhere Visa debit cards are accepted and provides the security of an FDIC insured card account.

Overall, the Convenient Visa Payroll Card program will eliminate 75% of an employer's costs of issuing paper checks and provide employees with a convenient, secure, low cost method of receiving payroll benefits.