Pre-paid cards may benefit small businesses

People who run their own business may benefit from the introduction of pre-paid credit cards
, it has been claimed.

The cards can be used to pay employees who, for various reasons, would otherwise have to be paid by cash or cheque.

According to Visa, this means that the “hassle” of having to coordinate a range of payments between permanent and temporary staff and those with no bank accounts could be done away with.

“Payroll managers can utilise a pre-paid card scheme to remove cash and cheques from the process and transfer all wages electronically to create one payroll system,” said a spokesman.

James Le Brocq, head of pre-paid cards for Alliance & Leicester Commercial Bank, said: “The introduction of a pre-paid card scheme Ö manages to achieve three important advantages at one stroke.

He outlined them as: “Simplification, cost savings for the company and a vastly improved experience for the employee or contractor.”

In related news, people on low incomes can benefit from taking out loans from a home lender for small sums, according to Provident Financial.

© Adfero Ltd

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