Business Payments Blog

  • Why Non-Financial Brands Should Own Their Payment Experiences

    In September 2020, Alex Lazarow, a venture capitalist and Forbes senior contributor, wrote that “one of the most transformative trends in fintech taking shape today is embedded finance.” More than a year later, the current market value of the embedded finance market is $43 billion — and is anticipated to grow by more than $95 billion to the tune of $138 billion by 2026.
  • Your Employees Want to Save Money: How You Can Make Saving — and the Path to Financial Wellness — More Accessible

    Saving money has been top of mind with most Americans since the pandemic brought unprecedented and unwelcome levels of uncertainty to everyday activities. People are putting these thoughts into action, saving at higher rates than any time in recent memory. In fact, CNN reported1 the domestic savings rate rose more than 5% from February to March of this year, to 13.1% — the highest savings rate in nearly four decades.
  • Paycards: Responding to Demands for Contactless Payments and Electronic Money Management — While Increasing Employee Engagement

    Employee financial health has always been essential to workforce stability. But because of the COVID-19 pandemic, employers need a renewed focus to support their employees’ engagement and performance required to maintain business operations. Even before the pandemic, more than a quarter of the workforce (28%) suffered from feelings of financial insecurity1, according to a Netspend research study earlier this year.
  • The stimulus has arrived – here’s how to help your customers

    For more than 20 years, Netspend has been providing payment solutions for U.S. consumers and enabling access to tax refunds, Social Security income payments and other government benefits as quickly, easily and securely as possible. Since Friday, April 10th, Netspend has processed hundreds of thousands of deposits for its customers, accounting for nearly $1 billion in stimulus payments, averaging between $1,200 to $2,700 per deposit.
  • Netspend Partners with WWE to Bring Financial Solutions to the WWE Universe

    Netspend and WWE announced a partnership that will bring the WWE Universe a series of general purpose reloadable (GPR) prepaid debit cards, featuring WWE Superstars Becky Lynch, AJ Styles, “Macho Man” Randy Savage, The Undertaker and The New Day, as well as the WWE Championship Title Belt. The WWE Universe can now express their loyalty through a WWE-branded Netspend card that provides accessible financial services to help them manage their money, their way.
  • Three Ways Paycards Help Employers Support Financial Inclusion

    More than eight million households across the U.S. are unbanked1, many of whom operate in a cash-only financial system. This unbanked population carries the burden of navigating alternative financial solutions to pay bills, make purchases, budget and save money. Being unbanked or financially underserved comes at a price for the more than three-quarters of workers living paycheck to paycheck who often bear the cost of hefty fees to access and manage their money.2 When it comes to payday, many U.S. workers would benefit from quicker access to their money and being able to potentially avoid the extra step—and extra fees—in cashing a paper check.
  • Guide: Four Strategies to Address the Talent Crunch

    Three in five employers struggle to fill job vacancies within three months1, and research shows these challenges will only grow: per some forecasts, the global talent shortage could reach 85.2 million people by 2030.2 This all adds up to a talent crunch3 — and unprecedented shortages of top-tier talent. It also poses many challenges for companies seeking to fill open slots or grow their teams. How do you attract and retain top talent in a cost-effective way? How do you keep your competitive edge when jobseekers have so many options?
  • Is Your Business Prepared to Weather a Natural Disaster? Here Are Three Things to Consider

    Only 27% of businesses believe they are prepared to ensure business continuity after a natural disaster.1 According to the Federal Emergency Management Agency (FEMA), 40 to 60% of small businesses never reopen following a disaster, and 90% of smaller companies fail within a year if they are unable to resume operations within five days.2 You may already have plans in place for safety and security, but these statistics underscore that business continuity and workforce planning are critically important, too.
  • Five Ways Paycards Make Payroll Less Painful

    Every day, technology companies are producing new mobile apps and software solutions to solve every problem under the sun – including some we didn’t even know we had. But for many in the payroll industry, the old saying may still feel true – the more things change, the more they stay the same. While the enterprise application market is expected to garner $213.43 billion by 20201, why are some payroll specialists living with manual payroll payments and processes?
  • Paycards: A Game Changer for Employers, Invaluable for Employees

    With an estimated 68 million1 underbanked consumers in the U.S., employers must find high-quality, flexible payroll solutions that give employees access to the omnichannel payments ecosystem. And, banked consumers want access to a multitude of financial tools to help them manage their everyday finances, too.2 Banked or unbanked, employees look to employers to provide game-changing payroll solutions – like Paycards – that are invaluable for building a financial system that works for their unique lives.
  • Restaurants: How You Pay Employees Matters for Retention

    Retaining good employees is a universal challenge, especially in the restaurant industry. Turnover is expensive, too — estimates indicate hiring and training a new employee can cost upwards of $3,5001. This is why Netspend recently partnered with QSR Magazine to outline simple ways restaurants can leverage their payroll processes to boost employee retention and satisfaction, all while experiencing cost savings.
  • Netspend and DailyPay Boost Financial Security Through Direct Access to Earned Wages

    May 29, 2019 -- According to the Federal Reserve, 40 percent of Americans cannot afford an unplanned $400 expense. Let that sink in… Expense volatility is an extremely real concern for consumers across incomes and occupations and causes financial instability that leads to a lack of savings, late fees and, in many cases, debt. Today, we’re excited to share the news that we have joined forces with DailyPay to help tackle financial insecurity for people around the country to take better control over their hard-earned wages.
  • 5 Benefits of Paperless Payroll

    By Jeff Johnson, Senior Vice President/General Manager—Commercial Prepaid, NetspendIf you’re a typical U.S. employer, about 80 percent of your employees receive their wages through direct deposit to their chosen bank account or prepaid card.1 This is great for employers (more control over “paperless payroll,” and fewer paper checks to generate and distribute) and great for employees (87 percent of employees are highly satisfied with direct deposit).2 BUT—and this is a big but—that leaves you regularly issuing checks to about 20 percent of your workforce and, possibly, more paper checks for miscellaneous payroll events, like 1099 payments, overtime, out-of-cycle payments, bonuses and incentives.
  • The Future of our Workforce: How You Pay Employees Can Pay Off For Your Bottom Line

    Today’s workforce is being shaped by a number of factors, including changing demographics and the growing number of millennials, the onslaught of new technology applications, more geographic distribution, the draw of the gig economy and more. Payroll has evolved over the last several decades but, even so, businesses must continuously work to keep their compensation systems up to speed with the changing market. Doing so will increase operational efficiency, and improve employee satisfaction and retention, while keeping costs in line.
  • Survey Results: How Modern Workforce Demands Are Influencing Today’s Payroll Processes

    Earlier this year, Netspend partnered with HR Daily Advisor to conduct its annual Payroll Solutions Survey, focused on trends within the payroll field. The survey captured insights on how companies are adapting their payroll processes to respond to the demands of millennials, the forms of payroll payments that are most prevalent and opportunities for improvement. Among the biggest payroll issues reported are that respondents’ current processes are too time-consuming, difficult to track or largely inflexible (per one of the respondents, they “assume everyone works a 40-hour work week”).
  • PaymentsJournal Talks Digital Disbursements with Netspend SVP Jeff Johnson

    Netspend Senior Vice President for Commercial Prepaid Jeff Johnson recently spoke with PaymentsJournal about the use of prepaid for small businesses, including how real-time payments and digital disbursements can revolutionize a company’s disbursement model. Jeff shared details on how Netspend delivers a full suite of prepaid options for its clients, focused on addressing cardholder needs while eliminating unnecessary business costs and streamlining operations.