Somewhere along the way, we all learn about work, pay and access to funds. If we’re paid too slowly, our personal obligations can stack up and we can fall behind in our payments. But if our employer pays us on a regular cadence, our lives and planning have far more stability.

It’s with this notion in mind that many businesses—especially firms with over 300 employees—are turning to payroll cards over paper checks. Companies in a host of industries stand to benefit from payroll card programs:

• Construction
• Wholesale trade
• Arts and entertainment
• Real estate sales and rental/leasing
• Agriculture, fishing and mining
• Transportation
• Repair and maintenance services
• Food services (deli, fast food, restaurants)
• Personal care services (hair, nail, spa)
• Retail

Payroll cards also enable the unbanked or underbanked to participate fully in the digital economy:  e-commerce, phone purchases and phone and online bill pay. Plus, with electronic protections against unauthorized transactions that may result from a lost or stolen card, payroll cards can be safer than carrying cash.

Payroll cards are accepted at any of the millions of businesses that accept debit cards.  And payroll cards can be used for over-the-counter cash withdrawals at any Visa or Mastercard® member bank. Even workers who do maintain a banking relationship can find payroll cards provide faster access to cash than depositing a paper check and waiting days for it to clear.

For companies too, the cost-savings and efficiencies are notable. There are limited fees involved and payroll cards are far more cost-efficient than traditional paper-check methods.

If you’re a business owner considering payroll cards for your employees, ask yourself these questions:

• How are we processing payroll? 
• How much time goes into this process? 
• Do we use paper checks or direct deposit? 
• Is there an external provider who handles our payroll? If so, what are we paying them?
• What makes most sense for us and for our employees?
• How can we make payroll more convenient, affordable and safe for us and our workers?
• Do we want to save money on payroll processing?

Properly executed, payroll card programs provide a convenient and affordable solution for businesses while delivering a flexible, easy-to-use cash access tool for employees. Contact Bridge Bank to learn more about how payroll cards can improve your business—and keep your employees happy.  

* Skylight PayOptions is provided by TSYS who is not affiliated with Western Alliance Bank or Bridge Bank.