Replacing paper paychecks with payroll cards can take the cost and hassle out of your payroll process, and make it easier for employees too!
Spending too much of your time and money on the payroll process? Small business owners in search of a wage payment method that reduces payroll costs and increases efficiency may want to consider paycards. This paperless approach to paying wages not only saves time and money, but it eliminates the worry and hassle of payroll checks that are lost or stolen.
How Paycards Work
When using paycards, also known as payroll cards, the employer simply arranges to automatically have the employee’s pay direct-deposited onto a card. This removes the need to print and deliver paper checks, and it makes direct deposit a reality for all employees—not just those with a bank account. Employees can then use the card—either as a debit or credit card—to purchase goods or pay bills. They can also withdraw money at an ATM.
As a small business owner, here’s the upside for you:
- Reduced administrative costs and the potential to limit your environmental footprint
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