Visa Payroll Card | Employee Direct Deposit Cards

Visa payroll card implementation success highly depends on the level and degree of payroll card customer support for both the employer and the employees involved. A1 Enterprise ensures employers issuing pay cards to employees bring a maximum utilization and ROI benefit to the organization, while simultaneously helping the quality of life for employees utilizing visa payroll cards. In fact, a leading factor in the pay card vendor and decision making process is how well the organization will be supported throughout implementation and pay card maintenance.

In the past, employers have looked to direct deposit as a convenient and efficient method of delivering wages to their employees. Most states prohibit employers from using direct deposit as the sole method of compensating their employees, however. This is because a surprising large number of American workers do not have, and are not eligible for, a bank account. Payroll cards provide a welcomed solution to this problem as personal bank accounts are not required, meaning that all employees, including the "unbanked" workforce, are eligible to participate.

A1 Enterprise also provides strong marketing material to encourage direct deposit paycard participation by employees and anyone in need of a direct deposit payment tool. We specifically design our payroll card programs to ensure maximum benefits for both employers and cardholders alike. With our history in the payroll card industry, we give tailored educational resources, training, and product marketing tools to employers so they know their employees will see value in enrolling in a visa paycard.

If your organization is considering using visa pay cards, the following information will help you understand the process and ultimately select a payroll card vendor that works with your organization to make your program successful.

Visa Payroll Card Vendors & Selection

Your company may have developed a relationship with your current payroll service provider, and some may have their own paycard program that can be incorporated into the existing services. Although service providers can be an excellent starting point it is important to expand your knowledge concerning your future paycard program using a variety of resources. Click here to read more about visa payroll card vendors and selection.

Branded and Unbranded Payroll Cards

Once you have chosen a paycard program vendor, one of the first decisions that you will need to make is what type of paycard you will issue your employees. Today, there are two common types of cards that an employer can choose from. They are branded paycards and unbranded paycards. Branded paycards are essentially debit cards that display a Visa or similar logo on them. They are also frequently called "signature based" because employees have the option of signing for goods and services that they purchase with the cards in addition to using them with a Personal Identification Number (PIN). These types of cards provide the most utility for the cardholder. Click here to read more about branded and unbranded pay cards.

Paycard Bank Account Structure

When launching a paycard program for your unbanked workers, you will have to decide how your employer will structure the bank account(s) for the program. Some employers may choose to have their employees' debit cards set up so there is a one-employee-to-one-account relationship. Others may opt for an aggregate or master bank account with sub-accounts established for each employee that are systemically accounted for individually, even though wages of all employees are essentially commingled. You should consult with your payroll card program provider on the options that they have available.

From an employer's perspective, the use of an aggregate/master account for a paycard program will likely cut down on administrative costs as all wages paid to employees using the cards will be sent via one ACH transaction as opposed to multiple transactions with a potential transactional fee associated to each account for each pay period. Click here to read more about your paycard bank account structure.

Visa Pay Card Program Rules and Responsibilities

Once you have engaged your program partner(s), the next step is to establish the responsibilities, roles, and rules associated with your program for all parties involved. At this stage of implementing your paycard program, you and your partner(s) need to answer a number of questions to make your visa pay card program successful. Click here to read more about your paycard bank rules and responsibility.

Promoting and Marketing your Visa Payroll Card

After obtaining support from your human resources department and senior management, you will then need to devise an actual promotion campaign to encourage the high rates of participation that will help you achieve your goal. To achieve this, seek help from your corporate communications, marketing, and/or public relations departments. Your program provider will also have materials that you can use to promote your program such as brochures, posters, tent cards for break rooms, pay statement inserts, videos, etc. Click here to read more about promoting your direct deposit paycard.

Visa Pay Card Management Support

Before embarking on the implementation and promotion of your paycard program to your workforce, it is critical that you, your other payroll department team members, the human resources department, and senior management fully understand and support this endeavor. Without the unconditional buy-in and support for your program from these key areas of your organization, you will not achieve your program goals. Your workforce will quickly notice if any of these internal stakeholders do not know about your program, are not in agreement with it, or are not showing enthusiasm about its deployment. By getting everyone on-board with you about the benefits and value that the program will bring your organization, you will be able to achieve a unified approach to gain acceptance of the program from your employees. Click here to read more about promoting your direct deposit paycard.

Pay Card Employee Selling Points

In the case of paycards, your target employee population will likely be those individuals who do not have access to a traditional bank account and have little or no experience with financial institutions. They probably have limited, if any, experience with using ATMs or getting cash back at point-of-sale terminals in retail stores. Your payroll card communications must effectively educate these employees as to why a payroll card is better than a paper paycheck Click here to read more about employee selling points for your Visa paycard.

Payroll Compliance

Most aspects of the employment relationship are regulated by federal and state law. Wage payment is no exception. When compensating their employees, employers need to be aware of legal requirements governing a variety of issues including permissible methods of wage payment.

The APA Visa Paycard Portal provides employers with valuable resources relating to permissible methods of wage payment and focuses on the legal requirements governing payroll cards. Paycards are becoming an increasingly popular component of modern wage payment programs. Unfortunately, however, the wage payment statutes in most states were written well before payroll cards were envisioned, leaving many employers uncertain as to how to use payroll cards while complying with applicable legal requirements. The Paycard Portal provides employers with important information on how to integrate paycards into their wage payment programs, while keeping them up to date on this rapidly developing area of the law. Click here to read more about payroll compliance.

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