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Monday, July 18, 2011

Ceridian Paycards Help Employers Pay Green

Great article on a new, more efficient, less wasteful way to pay employees.

Converting paychecks to employee paycards saves companies money, time and paper.

Jul. 18, 2011 (Business Wire) -- Ceridian Corporation, a leading provider of human capital management and payroll outsourcing solutions and a leader in payment innovation, announced today its Pay Green initiative. Through this initiative the company will be offering existing eligible customers the option to pay their employees using paycards, an environmentally friendly alternative to traditional printed pay checks. During this initial offering, Ceridian will waive the employer fees associated with providing a paycard option.

“Ceridian’s Pay Green initiative broadens the payment options employers provide to their employees while at the same time contributing to employers’ green initiatives,” said Bart Valdez, Ceridian executive vice president and chief commercial officer. The Pay Green initiative also supports Ceridian’s ongoing sustainability efforts, reflected by both its green solutions and company practices.
Paycard benefits
There are numerous benefits to paying employees using paycards. Some studies indicate a startling 12 percent of American households do not have a bank account. Paycards offer a simple, cost-effective solution for distributing funds to both banked and unbanked employees. Other key benefits include:
  • Companies can save significant time and money by reducing check printing, shipping and distribution costs (e.g., the American Payroll Association estimates the cost of producing a paper check is $4.40, five times the cost of a comparable paycard option).
  • Paycards are paperless and help organizations further their green initiatives.
  • Paycards are especially ideal for temporary employees, seasonal workers or a geographically dispersed workforce.
  • Paycards can be used like a debit card allowing employees access to their wages 24 hours a day, seven days a week.
  • Paycards are accepted at ATM locations including MasterCard, Maestro, Cirrus and Allpoint.
  • Lost or stolen cards can be easily replaced.
Some of Ceridian’s more than 500 participating companies comment on the paycard solution
“Our transition to electronic payroll has resulted in annual savings of $125,000. … paycards are an industry-recognized best practice for organizations like ours, with high turnover, a seasonal workforce or a geographically dispersed team.”

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