Payroll Cards - Ryzen Pay

The Ryzen Pay Card is a convenient, reloadable debit card that allows employees to access their pay instantly on payday. No bank account is necessary—say goodbye to waiting for checks to clear or dealing with expensive check-cashing fees. Enjoy secure, immediate access to your earnings wherever you are.

Features

Reloadable Debit Card:

Provides employees with an easy and cost-effective payment solution.

Online Account Access:

Employees can check their account balances and view statements online for free.

Instant Access:

Withdraw funds instantly from ATMs or without fees at participating banks.

Security:

Employee funds are protected by Visa’s Zero Liability Policy.

Direct Deposit Alternative:

Funds are loaded each pay period, just like a traditional direct deposit.

Flexible Payment Options:

Pay employees at any time, even on holidays, days off, or in emergencies.

Card Replacement:

Lost or stolen cards are quickly and easily replaced.

Global Acceptance:

Use the card wherever Visa or MasterCard are accepted worldwide.

Benefits

Simple Implementation:

A web-based solution that requires no hardware or software setup.

Improved Security:

Eliminates the risks and costs associated with lost, stolen, or fraudulent checks and their processing.

Cost-Effective:

Cuts down on time and costs associated with paper payroll checks.

No Credit Checks Needed:

No prior banking relationship required to get started.

Perfect for All Employees:

Ideal for workers who can’t use direct deposit, including temporary, part-time, contracted, and unbanked employees.

Payroll Cards

Payroll cards provide an alternative way for employers to pay employees on payday. They are especially beneficial for employees without traditional bank accounts or when employers want to avoid the security risks of paying in cash or using third-party accounts. Payroll cards also eliminate the fees associated with cashing checks for those without a bank account.

What are Payroll Cards?

A payroll card is a prepaid card onto which an employer deposits an employee’s wages or salary. It serves as an alternative to cash payments, direct deposits, or checks. Typically, payroll cards are debit cards linked to an online money account, offering employees the benefits of a bank account and debit card while enabling businesses to automate wage payments. Funds can be automatically loaded onto the payroll card each pay period via standing order or manually through a simple transfer process. Ryzen Pay provides contactless Mastercard® debit cards, along with an online account and mobile app, giving employees a complete banking experience.

Why Should Businesses Offer Payroll Cards?

Businesses should consider offering payroll cards as an alternative when cash or checks are the only payment methods available. While paying employees in cash may seem convenient for those without bank accounts, it introduces significant risks and complications.

Risks of Paying by Cash

Cash payments present serious security concerns for both employers and employees. Employers must withdraw large sums regularly, which could make them vulnerable to theft. Employees also face similar security risks when carrying cash and may find it challenging to budget and save effectively.

Risks of Paying by Checks

Checks can lead to long processing times and high fees for employees without bank accounts. Many unbanked workers rely on check-cashing services that charge hefty fees. Even those with bank accounts can experience delays in check clearing, which can be frustrating and inconvenient.

Payroll Card Security

Payroll cards offer a safer solution, providing instant, fee-free access to wages loaded into an account with industry-standard security features. This option minimizes risks, ensuring a more efficient and secure payment process for both employers and employees.

Ryzen Ventures LLC

Company Registration: 400408377

License Number: GT/111024/01

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