Prepaid payroll cards deliver operational efficiencies and provide employers with a set of tools to avoid expensive cheque disbursement fees, printing, paper and labour costs. Prepaid payroll cards deliver convenience and cost savings to workers allowing them to avoid expensive service charges for handling pay-cheques and money remittances.
Mint’s prepaid payroll card provides a cost effective solution to those who do not use a bank or credit account, and is a much safer alternative than carrying cash. Workers can use the payroll card in debit machines, and everyplace that MasterCard® is accepted. The payroll cards also include a money transfer function that can be accessed from employees’ mobile phones, providing workers with an inexpensive remittance capability serving as an alternative to global currency companies.
Advantages:
No bank account or banking relationship required
Inexpensive alternative for handling money transfers
Inexpensive payroll management and distribution system verses paper-based payroll cheques
Operational efficiency for both employer and employee
Simplifies handling replacement cards, no lost or stolen cheques to track
