Payroll Cards Overview

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Stored value cards are one of the most dynamic and fastest growing technologies in the financial industry. There are approximately 20 million users of payroll cards (stored value cards) and that number is estimated to double by the year 2008. As the number of users continues to grow so does the number of stored value transactions. This year alone stored value transactions should reach over $72 billion dollars.

While stored value technology is nothing new to the financial industry there are many new changes being made to give it a broader grasp on the financial industry. One of the most compelling changes is the use of the stored value payroll card.

Introduced in the late 1990s, the payroll card has evolved to serve its users. The payroll debit card allows employers to reduce costs in a number of different manners. These include paper-based payroll costs, fraud costs relating to theft, and the cost of bank processing services.

The PAYtran payroll card can be loaded monthly or weekly by the employer via our Internet-based banking service. The employer loads the net pay of the employee on the card and by doing so can save up to a 1.25 per payment disbursed. With that kind of savings it's really not a matter of if a company will switch to a payroll card but rather a question of when.


Payroll Card Benefits:

For the Employer

For the Employee


More Information

For more information, please call 1-877-PAYtran or contact us at info@PAYtran.com.

 

 

STORED VALUE CARDS
 

- State-of-the-art technology
- Reduce costs
- Innovative payroll processing