Payroll cards help businesses streamline the entire payroll process. It is a convenient tool for staff to receive and manage their paychecks.
To start your Payroll programme, you don’t need to go to banking institutions and spend a lot of money and time; you need to install the Wallester Business card issuing platform.
How do I use Payroll cards?
On a solary card, an employer can charge any payment that is part of the payroll:
● wages;
● vacation pay;
● bonuses;
● sick pay.
He can issue such cards to all employees, freelancers and partners with whom he has a financial relationship.
Those who receive Payroll cards can pay for purchases at retail outlets, make online payments, and transfer and withdraw cash from ATMs.
Benefits of Payroll cards for staff
Employees who have been issued Payroll cards receive the following benefits from using them:
● receive instant payments on the card;
● can easily and quickly deposit funds to the card and use it to pay for any purchases and services;
● thanks to a convenient application, they can easily control their expenses and manage the funds on the card.
Cardholders do not pay anything for their issuance and maintenance. To get such a card, opening it in the bank is unnecessary.
Payroll cards are provided directly by the employing company, which will make payments on them. The card is issued after receiving an invitation in the mobile application. It saves a lot of time and allows employees quick access to the money they earn.
Benefits of Payroll cards for business
Launching your own Payroll programme provides companies with the following benefits:
● employee cards can be issued instantly;
● physical and electronic cards can be issued
● payments to the cards are credited instantly, no matter where in the world the cardholder is located;
● more than 1,500 payments can be made instantly at the same time.
Payroll cards are especially advantageous for the finance department because they integrate easily with any accounting system.
Payroll payments are easily processed through a specialized accounting application. Accountants will appreciate the following features of the Payroll card platform:
● creating payroll records for each employee;
● real-time payment processing;
● the ability to process payments for different departments simultaneously;
● control of mass payments;
● convenient monitoring of all financial transactions on any card at any time.
To organise the accrual of payments, it is enough to prepare a list of payments in XML, XLS or CSV format in advance in an existing accounting system and upload it to the platform.
Using modern platforms for issuing Payroll cards is safe. They utilise strict protocols and systems to separate corporate finances and employees’ funds completely. Thus the personal funds of Payroll card holders do not participate in the financial transactions of the employer.
Another plus point for the employer is that Payroll cards help improve its staff rating.
There are no delays in payments and various problems related to bank settlements. Companies that do not delay their employees’ and freelancers’ salaries have a good reputation and are fine finding qualified personnel.
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