Payroll and benefits company Paychex announced yesterday (August 5) that it had launched a new payroll card program with the help of Netspend and MasterCard. Called Skylight PayOptions Program, the new initiative gives SMEs another alternative to direct deposit and paper paychecks. With Skylight, employee wages can be deposited onto the Skylight ONE Prepaid MasterCard, according to a Paychecks press release.
Paychex wanted to offer its clients better payroll solutions, and the partnership with NetSpend and MasterCard helped create the opportunity, explained Paycheck senior vice president of information technology, product management and development Michael Gioja.
“With this new program, our clients have access to a variety of resources and robust product features and benefits to meet their payroll needs, as well as the needs of their employees,” he said.
When employees opt for Skylight, they can also use the card for fee-free access to their wages via over-the-counter cash withdrawals at any MasterCard member bank and domestic ATM cash withdrawals within the Allpoint network, Paychex explained. Furthermore, employees have access to online bill payment, cash-back rewards, budgeting tools, text and email alerts through the Skylight program.