The purpose of paycards as a pay method is to ______________________________.
A) Prevent employees from opening bank accounts
B) Promote accessibility and portability of employee compensation
C) Protect payroll processes against embezzlement
D) Promote debit card use as a means of economic stimulus

Question

Quizplus · Accepted Answer

Paycards promote accessibility and portability of employee compensation, allowing employees who do not have bank accounts to receive their pay electronically without the need for physical checks. This can be useful for employees who may not have access to traditional banking services or may prefer electronic payment options. Paycards can also streamline payroll processes and reduce the risk of fraud or embezzlement associated with physical checks. However, paycards should be carefully evaluated to ensure that they are cost-effective and do not impose unnecessary fees or restrictions on employees.

The Purpose of Paycards as a Pay Method Is to ______________________________