VISA Payment Cards
With modernization and technology advancement, payroll system has evolved greatly. Employers are looking at ways to improve the overall payroll system, reduce cost related to administration and distribution of payroll issues. Gone are the days where people would queue up at banks for easy cash. With the availability of plastic money in the economy, all section of the society is benefitted.
The Visa payment cards is one such privilege given to employees who do not want to bank at financial institution, yet reap the benefit of safety, convenience and prestige. A lot of small and mid level employers are turning to Visa Payment Cards for obvious reasons like lowering recurring expenses, providing employee benefit and saving resource cost. Today, businesses have become aware of their incentives like cost savings and fraud reduction, many are reluctant to increase direct deposit participation and implement a payment cards solution. In times to come, payment cards will become the new form of payment.
Benefits to Employers:
- Reduces payroll costs
- Increase direct deposit participation
- Lowers resource cost and recurring expenses
- Eliminates Check Reconcilement Problems
- Eliminates Postage or Shipping to Remote Locations
- Reduces risk of lost checks and check fraud
- Payment cards ensure on-time delivery of payroll and reduce unclaimed property reporting obligations of employers.
Benefits to Employees:
- Employees can access their funds at ATMs and Visa-member banks across the country.
- Upon activation, employees can begin using their personalized card. Employees are able to make purchases or get cash back everywhere Visa® debit cards are accepted.
- Employees can pay their bills electronically.
- The card belongs to the employee and can be used if he/she changes jobs.
- The support team provides balance/account information or answers any account-related questions.
- Employees can make free Visa Signature and PIN based transactions. They may also receive cash back for free.