Branch, a workforce payments platform, recently launched a full-service paycard. Delivered through the Branch App and Card, the new offering targets industries including hospitality, healthcare, staffing, construction, and agriculture.
With Branch’s paycard and platform, employers can also unlock other payout methods, including cashless tips, earned wage access, same-day pay, and more to empower their workforce with fast access to earnings—no pre-funding required.
Branch’s paycard eliminates fees and creates easier onboarding for companies and their workers. This offering allows workers to be paid to a dedicated bank account versus a prepaid card, providing a path to a fully-fledged banking experience for workers. Workers not only enjoy perks like cashback rewards and free ATM options, and the ability to view and manage their paycard earnings through the Branch App.
“We’re dedicated to providing businesses and workers with the tools they need to succeed in a rapidly evolving economy,” said Atif Siddiqi, founder and CEO of Branch. “Our new paycard not only provides businesses with a comprehensive solution for paying their entire workforce but also helps deliver a mobile-first, accessible experience for workers that traditional paycards lack.”
Companies can eliminate the need for paper checks and pay workers on day one with several flexible onboarding options, from self-service options to physical paycards to hand out on-site. They can also provide them with a range of flexible features, including:
- Digital bank account and Mastercard debit card with fee-free options;
- Availability for minors and underbanked workers;
- Up to eight free ATM withdrawals per month at 55,000-plus ATMs in the Allpoint Network;
- Over-the-counter withdrawals;
- International spend and ATM usage in the UK, Canada, and Mexico;
- No overdraft fees, late fees, or minimum balance requirements; and
- Financial wellness offerings including savings and cash flow management tools and cashback rewards.
Branch’s paycard can also be integrated with time and attendance systems. Through direct integrations, companies can eliminate duplication, manual data entry and paper checks by incorporating the Branch paycard into the onboarding process.