United States Payroll Cards Report, 2019 - Breakdown by Age, Ownership of Other Card Types, and Mobile Payment Experience
DUBLIN, Sept. 12, 2019 /PRNewswire/ -- The "The Evolution of U.S. Payroll Cards in the 21st Century" report has been added to ResearchAndMarkets.com's offering.
Key Highlights
- History and current status of payroll cards
- Loads in the Payroll segment of prepaid payment cards in the U.S. have grown steadily. In 2017, loads were $40.3 billion, and the author projects that loads will reach $50.9 billion in 2021
- Survey findings on payroll card users, with a breakdown by age, ownership of other card types, and mobile payment experience
- Discussion of the benefits of payroll card use for employers and employees
- The likely negative consequences of anticipated regulation at both the state and federal level for payroll card programs and the people the regulations are intended to protect
- Recommendations for the design of successful payroll card programs
The Evolution of U.S. Payroll Cards in the 21st Century provides an analysis of the payroll card market that includes its size and a forecast of its growth, a review of how the payroll product line has evolved, and a discussion of the stakeholders.
The forecast report identifies the demographics of payroll card users and explores survey data revealing that they are not as homogenous as they might seem. The report discusses the attributes that consumers desire in a payroll card as well as the attributes employers seek in a payroll card program. The report reviews some of the changes the payroll card market has undergone in the last several years as it evolves to meet the needs of its changing consumer base.
Additionally, the report looks at the ever-changing regulatory environment for payroll cards, which varies by state. While some controls are necessary, payroll programs face compliance risks at both the state and federal level that demand continual awareness of regulatory changes.
The payroll card is a unique product that can save its users money in a way that makes money for providers, which means that it can help a large number of people, including some of the most financially vulnerable. Persons with incomes exceeding $100,000 also find today's payroll cards appealing.
Companies Mentioned
- American Express
- Careington International
- Consumer Financial Protection Bureau (CFPB)
- Discover
- Federal Deposit Insurance Corporation (FDIC)
- Mastercard
- PayPerks
- Visa
Key Topics Covered
Executive Summary
Introduction
The Payroll Card Market
Who Uses Payroll Cards?
Payroll Cards Can Benefit Both Employees and Employers
- Attributes That Employees Look for in a Payroll Card Program
- Attributes That Employers Look for in a Payroll Card Program
The Payroll Card Market Has Evolved
- Regulations Represent an Ongoing Risk for Payroll Providers
Enhancements That Modernized Payroll Cards
- Payroll Card Apps and Self-Service Platforms
- Wage Advance/On-Demand Payroll
Conclusions: Payroll Cards Have Come a Long Way
- Educating and Supporting Employers: Program Design Features
- Endnotes
For more information about this report visit https://www.researchandmarkets.com/r/iapypj
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SOURCE Research and Markets
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