Prepaid Paves the Way for Payroll

  • May 2012
  • -
  • Timetric
  • -
  • 32 pages


- A study of the benefits for employers, employees and issuing partners of using prepaid cards over paper and cash based methods
- The VRL report gives an overview of the market's size worldwide, as well as looking forward to future growth prospects
- The report finishes with a selection of case studies highlighting the successful implementation of prepaid payroll solutions for different entities in different countries


Prepaid solutions represent one of the most innovative propositions in the payment industry due to their inherent flexibility, convenience and applications across a broad range of industry sectors. It’s no wonder that banks, payment networks and programme managers have devoted such significant resources and investment into promoting their usage, but each industry vertical requires significantly different business models as end-user groups require different needs, and a one-size-fits-all approach will quickly doom some programmes to failure. With a sizable number of the world’s population still unbanked, there are millions of employees and workers around the world who still receive their salaries in cash or cheques, leading to huge administrative burdens for employers and banks, and inconvenience for the employee, along with the added cost of accessing their salaries.


- This report examines the factors that have elevated prepaid solutions as the ideal solution in the payroll sector
- It highlights the inconvenience, expense and administrative burden associated with payment by cash or cheques
- It views how the costs compare with other methods used by unbanked or under-banked customers
- It considers how prepaid solutions can lead to lower costs and deliver greater efficiency and benefits to all stakeholders

Reasons To Buy

- Gain the overview and background to prepaid cards
- Understand the benefits of prepaid payroll solutions
- Learn how these benefits apply to employees, employers and issuing partners individually
- Assess the market size, and find out where the opportunities and threats lie

Key Highlights
- Prepaid solutions represent one of the most innovative propositions in the payment industry due to their inherent flexibility and convenience
- Each industry vertical will require different business models as end-user groups have different needs; a one-size-fits-all approach will drive some programmes to failure
- Automated payroll payments using electronic funds transfer are only available where employees have a receiving account with a banking institution
- Providing banking services to unbanked and under-banked employees is fraught with contradictions. It represents a high volume of new accounts but low balances make it difficult to operate them profitably

Table Of Contents

Executive Summary
1.1 What is a prepaid card
1.2 The structure of payroll cards
1.3 How Banks earn money from payroll card fees
1.4 The payment network offerings
2 The Costs and Challenges of Wages and Salary Cheques
2.1 The scale of the unbanked problem
2.2 The cost to the unbanked employee
2.3 Tailored pricing is key for success
2.4 Pricing comparisons
2.5 Convenience
3 Benefits to End Users and Banks
3.1 Multiple commercial benefits
3.2 Benefits for the employer
3.3 Benefits for the employee
3.4 Identifying the opportunities
3.5 Identifying the challenges
3.6 Payroll prospects in Europe
3.7 Awareness of prepaid payroll solutions
4 The Market opportunity
4.1 The US
4.2 Europe
4.3 Reloading and fees
4.4 Awareness of the prepaid concept
4.5 The UK example
4.6 Scope for growth
4.7 Changes to the UK prepaid landscape
4.8 The Italian example
5 Case studies
5.1 US company lowers payroll costs and achieves 75% e-pay
5.2 Advanced Payment Solutions and Krown Recruitment
5.3 Global Cash Card and Uno Restaurants in the US
5.4 JP Morgan and Kelley Services

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