Tuesday, February 25, 2014
NBPCA, Consumer Action issue paycard guidance
Since a class-action lawsuit was filed against McDonald's Corp. in June 2013 concerning the fast food chain's payroll card policies, the paycard sector of the prepaid card industry has been under government and media scrutiny. Now, the Network Branded Prepaid Card Association and consumer advocacy group Consumer Action have created a four-page payroll card guide designed to help employers educate employees on the electronic wage payment option.
"The rapid rise of payroll cards has given employees new options for safer and more immediate access to funds, even when employees are unable to travel to the workplace and bank to pick up and cash their paychecks," said Kirsten Trusko, President and Executive Director of NBPCA. "This has also enabled employers to help address the cost and fraud associated with paper checks. It is important to offer employers the tools to help their employees maximize the benefits the cards offer."
An Employee's Guide to Payroll Cards was produced with funding, technical feedback and industry expertise from NBPCA members ADP, Commerce Bank, First Data Corp., MasterCard Worldwide and Visa Inc. The publication, along with its companion guide An Employer's Guide to Payroll Cards, are available as free downloads at www.nbpca.com/en/News-Room.aspx .
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