Multi-Purpose Payroll Cards: The Next Generation of Prepaid Credit Cards

For lots of reasons, consumers around the globe are turning to prepaid credit and debit cards as an alternative to standard credit cards (no debt, privacy, worldwide acceptance, etc.) Now Corporate America is jumping into the prepaid game, looking to take advantage of the many benefits that prepaid cards can offer businesses, the most significant being the use of prepaid cards as a money-saving alternative to paychecks.

Businesses will find the latest news from USA Paycard, Inc. exciting. USA Paycard has added several new features to its prepaid payroll card that are sure to get noticed by payroll officers across the country. Here's a snippet from a recent press release:

The payroll card traditionally allowed employers to use direct deposit for employees who lack a traditional banking relationship, translating into lower payroll check processing costs – an average of $48 per employee, per year according to a 1999 NACHA study. Now businesses are able to benefit from:

Commission Prepaid Credit Cards – conveniently allows staff to receive commission funding on their PayCards, which gives them instant access to cash at over 1 million ATM domestic and international locations and 30 million domestic and international point-of-sale terminals.

Termination Cards – efficiently distributes termination pay to employees at very little cost. Each terminated employee receives a PayCard which serves as their final paycheck. Employees have immediate access to their funds upon receiving the card from their employer.

Per-Diem Cards – distribute expense payments to employees working off-site in real time. By using a 'Funding PayCard,' money can be sent to any other PayCard in real time at a fraction of the cost of a standard wire transfer.

Budget Cards – allows employers to distribute budget funds to key personnel efficiently. Money is allocated to the proper personnel for business use and can be monitored by supervisory staff members anywhere internet access is available.

USA Paycard, Inc. and its partners handle the card set up, customer service and transaction processing. Additionally, USA Paycard assists employers with employee solicitation, sign-ups, and answering any card related questions. There are no employer costs to the program and the cards can be used by employees for free using the 'cash-back' option at retail POS locations."

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