Branch, the leading workforce payments platform, announced the launch of a full-service paycard, with enhanced features that reimagines the traditional paycard experience for workers. Delivered through the award-winning Branch App and Card, the new paycard offering was developed in response to growing demand across industries including hospitality, healthcare, staffing, construction, and agriculture for a comprehensive paycard solution that meets the needs of both businesses and workers.
Branch’s paycard takes on the traditional paycard industry by eliminating a number of fees and creating easier onboarding for companies and their workers. Unlike most traditional paycards, Branch’s offering allows workers to be paid to a dedicated bank account versus a prepaid card, providing a path to a fully-fledged banking experience for workers. Workers not only enjoy more robust perks like cashback rewards and free ATM options, but also greater flexibility, ease, and convenience with the ability to view and manage their paycard earnings through the Branch App.
“We’re dedicated to providing businesses and workers with the tools they need to succeed in a rapidly evolving economy,” said Atif Siddiqi, founder and CEO of Branch. “Our new paycard not only provides businesses with a comprehensive solution for paying their entire workforce, but also helps deliver a mobile-first, accessible experience for workers that traditional paycards lack.”
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With Branch’s paycard and platform, employers not only have a paycard but can also unlock a variety of other payout methods including cashless tips, earned wage access, same-day pay, and more to empower their workforce with fast access to earnings—no pre-funding required. Companies can eliminate the need for paper checks and pay workers on day one with a number of flexible onboarding options, from self-service options to physical paycards to hand out on-site.
They can also provide them with a range of flexible features including:
- Digital bank account and Mastercard debit card with fee-free options1
- Availability for minors and underbanked workers
- Up to 8 free ATM withdrawals per month at 55,000+ ATMs in the Allpoint Network2
- Over the counter withdrawals
- International spend and ATM usage in UK, Canada, and Mexico
- No overdraft fees, late fees, or minimum balance requirements
- Financial wellness offerings including savings and cash flow management tools and cashback rewards
Branch’s paycard can also be easily integrated with time and attendance systems. Through direct integrations, companies can eliminate the hassle of duplicate, manual data entry and paper checks by seamlessly incorporating the Branch paycard offering into the onboarding process, saving time and cutting costs—all while improving attraction and retention.
Source: PRNewswire