MarketWatch reports that MoneySolutions International is introducing a direct deposit payroll card that will allow companies to reduce payroll costs drastically while offering employees a secure and more convenient way to get paid.
Instead of receiving a paper check, The MoneySolutions Prepaid MasterCard will allow employees to receive bonuses, wages, incentives, rewards payments, and expense reimbursements in the form of a payroll prepaid card. The card works like a value stored card, and funds are automatically loaded to the card on paydays. The MoneySolutions Prepaid MasterCard was designed specifically for those employees without bank accounts, since they rely heavily on fee-based cash checking places and money transfer agents in order to access funds.
Marc Mehl, chief operating officer at MoneySolutions International mentions:
The MoneySolutions Prepaid MasterCard is a practical, cost-effective alternative for the untold millions of American workers who must pay a high price to use neighborhood check cashers and money transfer agents to manage their finances. Our payroll card is structured to grant these workers immediate access to their funds in a convenient, safe, secure manner that is decidedly less expensive for them than paper checks."
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