What are paycards? As an alternative to the costs and effort associated with the traditional paycheck, many American employers are discovering the value of paycards, that allow them to pay all employees – even those without bank accounts – electronically. Paycards, a growing trend in payroll management, are electronic cards that look similar to an ATM or credit card and are loaded with an employee’s earned wages each payday. Because the earned wages are loaded onto the paycard electronically, employees have immediate access to their pay and do not have to jump through the hoops associated with cashing a traditional paycheck.
