Types of Payroll Cards

There are two types of cards payroll cards available, branded or unbranded.

Branded Payroll Cards
MasterCard® or Visa® payroll cards are called branded cards. Cards are personalized with the employee's name, and can be used - up to the available funds on the card - wherever credit and debit cards are accepted worldwide. Naturally, cards are also accepted at ATM machines any where in the world.

Cards are issued directly to the employees by the bank. Because of this, there is a lag time from when the cards are ordered until when they are received. Branded cards carry more risk since a branded card can be "signature authorized" as well as PIN based. Employers issuing branded cards usually have a stable and committed workforce. Benefits of branded cards include:

• Extra prestige of having a major branded card
• Recurring monthly payments such as insurance and utility bills can be paid by card
• Car rentals, hotels, and airline tickets can be reserved with the cards
• Card holders can use the cards to shop online or buy by telephone

Unbranded Payroll Cards
Unbranded cards are ATM debit cards. They can be used at point of sale locations that accept ATM debit cards as payment as well as at ATMs throughout the world. Some employers choose to put the name of their company on the cards.

Benefits of nonbranded cards include:

• Perfect for businesses who want to establish a payroll card program quickly. The cards can be distributed rapidly.
• Excellent for employers who have a rapidly changing workforce.
• Great for employees who need to be paid everyday.
• Cards can be kept in a secure environment at the employer's location and issued immediately to employees.
• Often used for employees who frequently send money back home. Companion cards can be issued to family members in other countries.
• Can be replaced with branded cards as a future employee benefit or incentive.