Berkeley Payment Solutions Payroll Card

Payday the easier way

The Berkeley Payment Solutions® Payroll card is a reloadable prepaid card that provides employers and their employees with a convenient, low-cost alternative to payroll checks. It enables businesses to reduce costs traditionally associated with paper-based payroll processes, including producing, handling, and processing paper checks. It also helps businesses avoid check-related fraud losses and theft. For employees who do not have a bank account, the Berkeley Payment Solutions Payroll card is a valuable employee benefit that helps avoid the high cost of check cashing, while providing convenience and safety.

What it does

Provides underserved consumers with immediate access to their pay through direct deposit to their Berkeley Payment Solutions Payroll card. Employees use their card to pay for purchases, pay bills, and obtain cash at ATMs all with Berkeley Payment Solutions cardholder security protections.

How it works

After enrolling with their employer, employees receive a reloadable Berkeley Payment Solutions Payroll card embossed with their name. Each pay period, the wages of enrolled employees are automatically deposited into their individual card account. All transactions are documented on monthly electronic account statements.

Where it's accepted

The Berkeley Payment Solutions Payroll card is welcome everywhere VISA cards are accepted, at millions of locations worldwide, including Internet and mail-order/telephone-order merchants and ATMs with Plus® brand marks.

Target audience

Underserved consumers are the target audience, particularly part-time and temporary employees. Industries in which the Berkeley Payment Solutions Payroll card has gained early and strong adoption include temporary staffing, hotels/hospitality, retail stores, quick-service restaurants, and transportation.

Issuer/Employer benefits

• Strengthen relationships. Helps issuers strengthen relationships with business clients and enables employers to build bonds with their employees by providing an important benefit with significant convenience and safety features.
• Reduce costs. Displaces costly payroll checks, providing cost-saving benefits to issuers and employers.
• Empower employees. Provides underserved consumers with a prestige product that offers flexibility and independence. Also serves as a learning tool that can help develop or improve financial management skills.

Cardholder benefits

• Financial freedom. Expands the purchasing power of underserved consumers who are accustomed to a cash-only lifestyle. For example, it enables them to reserve a hotel room and pay bills online or by telephone. Also reduces their dependence on friends and relatives to cash paychecks or pay bills.
• Cost effective. Provides a cost-effective alternative to the potentially high cost of check cashing.
• Convenience. Makes paying for purchases, paying bills, and obtaining cash fast, easy, and safe.
• Immediate access to wages. Gives cardholders immediate access to their wages even if they are not at work on payday.
• Safety. Reduces the need to carry large sums of money and protects cardholders from financial loss if their card is lost or stolen.
• No credit check. Typically requires no credit check; virtually anyone is eligible.
• Budgeting. Helps cardholders establish budgets and monitor spending.

Key features

• Berkeley Payment Solutions consumer protections. Berkeley Payment Solutions’ Zero Liability Policy protects cardholders from unauthorized purchases if their card is lost or stolen; cards may be replaced with the full amount of unauthorized transactions. Transaction-dispute rights also apply.
• Direct deposit. Employees may have funds from sources other than their employer, such as tax refunds and state disbursements, deposited directly into their Berkeley Payment Solutions Payroll card account.
• Co-branding. The front of the Berkeley Payment Solutions Payroll card may be co-branded with the names/logos of up to two affinity/co-branding partners.