Looking for a cost effective and easy way to simplify payroll and the operation of your business by increasing direct deposit enrollment? You are not alone – and the Powercash payroll card is just the solution that can make this possible for you by increasing your direct deposit enrollment and decreasing payroll related costs.
According to the Pelorus Group, an independent research firm, "...the number of paycards in circulation in 2005 was 7 million. This was a more than two-fold increase from the 3 million payroll cards issued in 2004, and the number is expected to increase to 17.5 million in 2010."
Every day, more businesses, including the U.S. Government, as well as State and local governments are turning to paycards as a way to simplify the payment of wages and other benefits by offering paycards to their employees and beneficiaries.
Loading wages or other monetary compensation, such as bonuses, commissions or travel expense reimbursements, to our Powercash payroll cards is easy and cost effective. Paying employees with Powercash allows the employees instant access to their pay on payday saving both time and money for both the employees and the employer. For the employer, it will not be necessary to spend time and energy tracking down deliveries of late/lost or stolen paychecks or money spent replacing lost/stolen checks, nor will time be wasted reconciling the payroll account.
The use of payroll cards can benefit both the efficiency and bottom line of a company or an organization while offering a valuable benefit to employees. Powercash affords the many benefits of a bank account to card holders without many of the requirements associated with bank accounts. Powercash can benefit both a company’s unbanked employees, as well as those with existing bank accounts.