“Hispanics represent about 17 percent of the nation’s total population, making them the nation’s largest ethnic or racial minority. According to the Federal Deposit Insurance Corporation, Spanish-only speaking households are five times less likely to use a bank or credit union.”
Many employers and employees find using a payroll card to be intimidating. According to CreditCards.com, “it pays to know these five things about payroll cards” before utilizing one:
Direct deposit has officially taken over the payroll market! According to the NACHA, 75% of all employees utilize direct deposit, whether it is to a traditional bank account or a payroll card account.
Over $200 billion in retail purchases were made with a prepaid card in 2014. Now, over five percent of all retail purchases are made using a prepaid card, whether it is a payroll card, a general reloadable card, or an incentive card.
New York Attorney General Shneiderman introduced the Payroll Card Act to state legislation in 2015 in response to the Attorney General Labor Bureau Report on payroll cards.
Do you ever find yourself asking, who are my best customers? Or, how am I doing relative to my competition?