Altair's Prepaid Payroll Card Solution
Altair offers Prepaid Cards as a solution to recurring payments - E.g. payroll and
incentives cards. This Prepaid Payroll Card holds enormous potential for payroll
specific companies as well as numerous other companies with a medium to large staff
contingency (E.g. Construction, healthcare and retail). Many companies' workforce
could benefit from direct deposit on a Prepaid Payroll Card. Available in clients
own corporate brand, Prepaid Payroll Card solutions offer clients an audit trail
for employee expenses.
For the employer, it provides the opportunity to cut costs on processing payroll.
This is especially true in those industries where significant numbers of cheques
are produced and distributed. By providing a prepaid debit card, the employer is
able to load that card with the employee's wages within minutes, efficiently
and cost effectively.
The employees receive the funds on a card rather than having to cash a cheque and
it gives them access to shopping on the Internet or through the traditional retail
environment. Cardholders do not need to carry cash around. For the non-banked, this
solution removes the inconvenience and cost of exchanging cheques for cash, whilst
providing the benefits of a Debit Card such as access to the online world of payments.
Cash Management
Altair enables you to deposit the weekly/monthly payroll cash to a settlement account.
Until the employee withdraws the funds, the float will earn interest for the employer.
Funds are held at a MasterCard® settlement account.
BACS returns solution
The card is significantly easier to manage compared with alternative methods for
all companies in the value chain. This is especially true in industries where there
is high employee turnover or employees are transient workers.
Flexible and Versatile
- Open-loop card solution - MasterCard, Visa or Maestro®.
- The Altair Payroll Card is a true cash alternative, that offers the employee flexible
personal banking facility.
- The Payroll Card creates a new revenue stream for the company through its potential
continuous use by ex and current employees, as well as increasing brand awareness.
Click here for further details on Payroll
Cards