Payroll cards generate efficiencies for businesses: emerging as a financial services tool for today's companies.
Franchising World › Vol. 40 Nbr. 10, October 2008
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2009 SUPPLIER SOURCE BOOK
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Payroll cards generate efficiencies for businesses: emerging as a financial services tool for today's companies.
Payroll cards, increasingly being referred to as paycards, have experienced dramatic growth over the past few years. While less than $2 billion was loaded onto paycards in 2003, that figure grew fivefold to more than $10 billion in 2006, according to the Mercator Advisory Group, a research company focusing on the banking and payment industry.
In terms of the sheer number of cards in use, the Pelorus Group, a management research and consulting firm, expects some 17.5 million paycards to be in use by 2010, compared to just 2.2 million cards back in 2004. The introduction of this new and alternative way to pay people benefits the business world in a number of ...See the full content of this document
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