ICICI Bank offers a complete payroll solution to your company in the form of its PayDirect Card.
The PayDirect Card is a magnetic-strip-based reloadable Prepaid Card that addresses the concerns of an enterprise for payment of salaries, reimbursements, commissions and incentives to its employees/associates. With this card, the cardholder can withdraw funds from ATMs and make purchases at merchant outlets having Point of Sale (POS) machines.
The PayDirect Card is the ideal alternative to traditional payroll cheques, which also helps your business increase efficiency and builds employee loyalty.
How does the PayDirect Card work?
The ICICI Bank PayDirect Card is a reliable and convenient option for making payment to your associates. Pre–funded by your organization itself, the ICICI Bank PayDirect Card lets the company issue payment by card instead of disbursing cash or cheques to its employees. For every pay period, the employee’s earned funds are automatically loaded onto the card and available on payday itself. Employees can then use the card to buy goods and services physically or online, pay bills, or get instant access to their funds through ATMs. The card also offers an extra level of security for the company and its employee.