Payroll Card

MFSL's Payroll Card is designed to reduce costs for employers who routinely pay workers by cash or cheque and to provide added value for the employer as compared with paying into a conventional bank account. A Payroll Card provides security, convenience and a reduction in costs for the employee, as well as reduced overheads and a valuable additional high margin revenue stream for the employer.

How Does it Work?

The employee receives a Payroll Card, which is a prepaid MasterCard™ issued by the employer. It looks and feels like a credit card and is co-branded with the employer's and MasterCard's logo. This can be used at over 30 million ATMs or points of sale, anywhere in the world. Wages are paid onto the card every Friday at 17:00 via an automatic batch file and are available to the employee immediately, without the need for expensive cheque cashing or carrying large sums in cash.

The employee can have additional cards for family in the UK or abroad, providing increased convenience and lower costs for migrant workers sending money to family abroad.