Payroll Cards: A Solution for any Business Operation

By: Craig Fuller
Date: 3/1/2007

Because of the increase in operational efficiencies and expense-reducing results, payroll cards have experienced steady growth and wide acceptance over the last few years in all segments of the U.S. workforce, including staffing and temporary services agencies that employ or offer job placement to immigrant and guest workers.

There are several payroll card providers and issuers in the marketplace today, but how do you select the right one? There are a few companies that offer more than just a paper check alternative and can combine other employee-related services, such as payroll software, Flexible Spending Accounts, loyalty rewards, Pay-As-You-Go workers compensation, and 401K programs.

The ability to customize a program specific to your company's needs is critical. More effective service providers will combine programs in a package or separate them if needed. True customization is important to one's specific needs, and since it differs from one customer to the next, be sure to choose a company that wants to put your needs first and foremost, now and in the future.

Whether you are a start-up company or a growing business, you may come across inefficiencies in your operation. Those inefficiencies can range from ineffective payroll software, to the costs involved in printing and distributing checks, to the retention of your employees. A customized solutions package may include new payroll software that is supreme in HR recordkeeping, offers customized reporting, and calculates employee taxes. A payroll card will eliminate those check-writing expenses and provide your un-banked or underserved employees with an immediate debit card account, and a secure method to receive their wages, while allowing you to achieve 100% direct deposit participation. If employee retention is an issue, you may investigate a loyalty rewards program to promote tenure or increase specific employee behavior, such as performance and safety. While you may find all of these services under one roof, be sure to center the program on your company's needs.

Craig Fuller is the CEO of Transcard. He can be contacted 423.553.5227, or by email at cfuller@transcard.com, or visit www.transcard.com.