Will Paycards Replace Paychecks?
Payroll debit cards can be a cheap alternative to issuing paper checks to employees who don’t have bank accounts. But there can be downsides for recipients. Paper or plastic — it’s not a question just for the grocery store checkout line anymore. Now some employers are facing it when figuring out the most efficient way to pay workers.
These companies are trying to eliminate paper paychecks for employees who don’t do direct deposit, and instead issue them payroll debit cards, also called paycards. The cards, which are loaded electronically with workers’ pay, are designed for employees who don’t have bank accounts. Read more…
Source: LA Times