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:
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.