All companies can benefit by implementing a pay card program. However, there are four key issues you need to keep in mind before you put a payroll card system in place. These are compliance, cost, employee adoption, and training.
Compliance
If you're thinking about implementing a payroll card system you must be informed about state laws. State laws vary greatly and are rapidly changing. Employers need to be aware of the legislation in every state that they have employees. Be sure to select a pay card provider that is compliant in all 50 states.
Cost
As a baseline the pay card program should be free to the employer and cost the employee nothing to enroll. The employee should receive at least 1 free way to access their funds, to the penny, per pay period. Fees vary across all pay card providers, make sure to receive a complete list of cardholder fees before making your pay card provider selection.
Employee Adoption
We believe that the most critical element of any pay card program is employee satisfaction. While there will always be some resistance to change, we have developed several approaches that can be tailored to individual employer’s workforce to help convince employees of the value of the pay card benefit. Once Employees learn about the advantages of a pay card (lower cost, the convenience of ATMs and POS terminal use, and safer access to their funds) it is really an easy sell! The "resistance" to change expressed by some workers can best be overcome by a fully supported pay card implementation.
Training
Our innovative training process is a key success factor for your pay card program. We provide complete training and support throughout your entire organization. Acceptance of any pay card program is dependent on the effective communication of the value of the program for the company and its employees. The rapid! PayCard team will demonstrate the complete set of available tools that we utilize to train your team.
“rapid! PayCard provides a completely different value proposition for our clients compared to all other paycard companies that focus primarily on technology and card features. We provide the most comprehensive paycard technology platform as the foundation and then build real value for our clients with the successful adoption of the paycard into their organization through comprehensive, marketing, training and support. Where most paycard companies end their efforts, with system access and cardstock, we are just beginning to provide the high touch service that you require to achieve your goals.” Chris Ruppel, CEO rapid! PayCard
rapid! PayCard provides:
-Full compliance support for the life of the program
-Free for the employer
-Low cost for your employees
-Full training and support
