Tag: Payroll

Stay updated with the latest news and insights on payroll in payments and banking, focusing on technologies and strategies that streamline payroll processes and enhance employee payment experiences.

About the report The report titled U.S., Canada, and U.K. Prepaid Markets: Similarities and Differences provides a comparison of these markets including market size, taxonomy, regulations, and key players. Mercator Advisory Group has been covering the U.S. prepaid debit card market since 2004 and created the taxonomy that is used industrywide to categorize and segment the different prepaid debit card types in the market. In 2014, Mercator was asked to provide the same type of analysis for the Canadian market. Every year new data is collected and analyzed using the baseline data and trending to benchmark and forecast market size for five additional years, which helps program managers and processors to anticipate where growth will happen as well as where to expect declines. Additionally, the report looks at the regulatory environments for prepaid debit cards, which are continually changing especially in Canada and the United Kingdom as regulators learn the nuances of the card market and where risk lies. While some controls are necessary, prepaid programs face risks at both the state/providence and federal level provoking continual compliance concerns. “The prepaid debit card market is unique in that there are many product offerings under prepaid debit cards that are not widely known under that designation. People are more likely to know them as gift, payroll, incentive, travel, or general purpose reloadable (GPR) cards. Each country has its own set of products that function primarily the same but with major differences in the regulatory requirements. It’s valuable to players in the prepaid market to see how each country is evolving in this space,” C. Sue Brown, Director of Mercator Advisory Group’s Prepaid Advisory Service, and author of the report, commented. This research report has 21 pages and 15 exhibits. Companies and other organizations mentioned in the report include: Bank of Canada, Bank of Montreal, Barclays, Berkeley Payments, Blackhawk, Canadian Imperial Bank of Commerce (CIBC), City Services Benefits Card (CSBC), Clydesdale Bank, Consumer Financial Protection Bureau (CFPB), Contis Group, Ltd, Co-operative Bank, Desjardins, Discover, Federal Deposit Insurance Corporation (FDIC), Financial Crimes Enforcement (FinCEN), Greendot, HSBC, InComm, Industrial and Commerce Bank of China, KEB Hana Bank of Canada, Laurentian Bank, Lloyds Banking Group (Bank of Scotland, Halifax, and Lloyds), Mastercard, National Bank, National Gift Corporation (NGC), Nationwide, Netspend, North West, Ontario Disability Support Program, PaySafe Group, Peoples Trust Company, Prepaid Financial Services (PFS), PrePay Solutions, PSI-Pay, Ltd, Rapid Payroll, RBC Royal Bank, RBS Group (NatWest, Royal Bank of Scotland, and Ulster Bank), Santander, Scotiabank, TD Canada Trust, Toronto Employment and Social Services (TESS), TSB, UK Gift Card and Voucher Association (UKGCVA), US Bank, Vancity Community Investment Bank, Virgin Money, Visa, Wirecard, and Yorkshire Bank.

3 Misconceptions about Payroll Cards:

by PaymentsJournal

September 17, 2019

Don’t miss another episode of Truth In Data! Click on the red bell in the lower-left corner of your screen ...

What Percentage of the Prepaid Market Are Payroll Cards?

by PaymentsJournal

September 16, 2019

Don’t miss another episode of Truth In Data! Click on the red bell in the lower-left corner of your screen ...

Corsair Capital to Acquire MSTS From World Fuel Services

Comdata to Acquire Payroll Card Provider SOLE Financial

by Steve Murphy

July 16, 2019

In this particular announcement, which is posted in Yahoo Finance, we learn that Comdata will be acquiring the consumer payroll ...

Are Payroll Processors Falling Behind in Adopting Digital Payments

by Sarah Grotta

May 29, 2019

An opinion piece in PaymentsSource takes aim at the payroll industry and suggests that it has not been adopting new ...

Square Payroll Goes Mobile

by Sarah Grotta

September 26, 2018

Two things small businesses obsess about are cash flow and payroll. Square has been focused on meeting those needs through ...

Not All Payroll Card Programs Are Created Equal

by Eric Dresdale

November 15, 2017

For those of you who do not know anything about payroll cards, here’s a quick introduction. Payroll cards emerged in ...

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Tag: Payroll

3 Misconceptions about Payroll Cards:

What Percentage of the Prepaid Market Are Payroll Cards?

Comdata to Acquire Payroll Card Provider SOLE Financial

Are Payroll Processors Falling Behind in Adopting Digital Payments

Square Payroll Goes Mobile

Not All Payroll Card Programs Are Created Equal

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