Consumers are offered a Payroll card through their employers, who are commercial clients of TransCash. The consumer completes an enrollment form and provides this to his/her employer who creates an electronic enrollment request. Upon completion of enrollment, a personalized Visa or MasterCard -branded reloadable prepaid card is created and sent to the consumer via mail. The consumer activates the card, and selects a PIN number for the account. Each pay period, the cardholder’s full pay is loaded onto the card and available immediately on payday.
The TransCash Payroll card is a reloadable prepaid card that can be used for purchases everywhere Visa or MasterCard debit cards are accepted, worldwide. The consumer can also obtain cash at Visa/Plus or MasterCard ATMs or financial institutions. Cardholder can view the balance at ATMs, via IVR, online, or by receiving financial statements in the mail.
The TransCash Payroll Card program is an innovative payment solution, especially designed to facilitate the payroll process of businesses while answering the needs of its employees. Prepaid cards are rapidly becoming the disbursement vehicle of choice for organizations looking to maximize payroll efficiency, minimize the cost and inconvenience of paper checks, and deliver an easy pay alternative to employees. The TransCash Payroll Card is the ideal alternative to traditional payroll checks or cash payments.
As it helps minimize organization’s carbon footprint.
Simplify payment to temporary, part-time and seasonal employees.
Deliver pay on time no matter what.
Minimize fraud losses, theft, stop payment costs and out-of-cycle checks.
Provides underserved consumers with a prestige product that offers flexibility and independence.
Significantly reduce administration and payroll-processing costs.
Promotes the program as an employee benefit—a flexible pay alternative compared to traditional paper check delivery.
Comes with a deposit slip and bank account for the employer to easily make direct deposits onto employees’ Payroll Cards.
Employers can build better bonds with their employees by providing an important and meaningful benefit with significant convenience and safety features.
Provides a cost-effective alternative to high cost of check cashing and money order services. It simplifies money sharing and reduces or eliminates fees for money transfers.
With the TransCash Card, employees can make purchases everywhere Visa or MasterCard is accepted worldwide. It makes paying for purchases, paying bills, and obtaining cash fast, easy, and safe.
Gives employees peace of mind knowing that their salary is automatically available and accessible - even if they are not at work on a payday.
No waiting for "checks in the mail".
It offers 24/7 access to funds at all ATM locations that display the Visa or MasterCard logo.
Reduces the need to carry large sums of money and protects cardholders from financial loss if their card is lost or stolen.
Offers greater security than a physical check.
Reduces bill paying fees and provides for the flexibility to shop or pay bills by phone or online.
Expands purchasing power for unbanked consumers who are accustomed to a cash-only lifestyle.
Typically requires no credit check.
Subject to Local Regulations compliance, and appropriate proof of identity.
TransCash runs a multi-lingual Customer Service Center to establish trust, comfort and friendly access for the cardholders.