As employers continue to seek alternative payment methods, the use of payroll cards has grown by leaps and bounds. In a 2019 survey, 28.5% of businesses say they used payroll cards, a drastic increase compared to the 2% reported 4 years earlier.
While there are many benefits to offering payroll cards, it’s vital that you understand the dynamics of this payment option before extending it to your employees.
What is a payroll card?
A payroll card is a reloadable prepaid card that employers can use to disburse wages and other compensation to employees. Each payday, the employee’s take-home pay is
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