International Payments

Increase Value and Save Money

Let’s face it. Electronic money is the way of the world. Automating international payments is simply good business. The reasons are clear.

International electronic payments are efficient money savers. Payroll cards are safe, fast, and easy to track. Further, the correct implementation of an international debit card program gives companies a competitive edge to recruit and retain a global workforce.

International Debit Cards

The importance of cross-border payments in an increasingly interconnected global economy is recognized as an expanding trend by the U.S. Treasury for International Affairs. Over the past two years, international remittances jumped by 20 percent and will keep growing for years to come.

The Pelorus Group estimates that 75 percent of the growth in stored value cards will come from payroll and general spending cards. Most of this will be in South America, Asia Pacific, Africa and the Middle East. In these regions of the world, 60 to 80 percent of the population does not have a bank account.

International stored value debit cards are an efficient and effective way to send and receive money. Funds on payroll cards are accessible worldwide at ATMs or point of sale locations. Workers report that the small fees associated with the use of payroll cards are more than offset by the convenience, security and immediate access to cash provided by the debit cards.

Workers around the world prefer to be paid by debit cards. Europe is one of the worlds’ most developed debit card markets. In the Asia-Pacific region, including, Australia, South Korea, Philippines, India, China, Thailand, Taiwan, Malaysia, Japan and Indonesia, prepaid debit card usage is booming. In Mexico, Central and South America, payroll cards are flourishing.

Expanded Opportunities for Companies Using Debit Cards

Companies may choose the added benefit of branding debit cards with a company name or logo. Each time a worker uses the prepaid debit card, the company brand is seen. The payroll cards are a subtle yet powerful way to promote and enhance company value.

Rewards programs can be combined with prepaid debit card programs. Astute companies design programs that motivate workers and reward desired behaviors.

International Direct Deposit

Direct deposit is available as a payment option. With direct deposit, workers must have bank accounts into which the money can be deposited. Direct deposit is a familiar way of receiving payment, popular in the US, Canada, and Western Europe. Direct deposits are in the currency of the country where the worker is located.