What is Pay Card and How it works?

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Pay card is a debit card that a company employs to disperse salaries. Employees are not being paid on a paper check but get the payment on the pay card. The card will be applicable in the ATM withdrawals, in store purchases, online shopping, and bill payments. Pay cards are similar to the use of debit cards offered by banks except that they do not need a checking account. They can be reloaded every pay cycle and can tend to have features like balance alerts and access to a mobile app. Pay cards provide a secure, convenient, and economical payroll system to both the employer and the employee.