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The Power of Embedded Finance and Online Gaming and Sports Betting: Driving Growth with Improved Customer Satisfaction
10/21/2022As gaming and sports betting continues to rise in popularity, embedded finance solutions have the potential to make a major impact on casinos and sportsbooks. -
How to Slow the High Turnover Cycle in Restaurants: Attracting and Retaining Tipped Workers
09/27/2022Winning over workers today as businesses nationwide focus on rebuilding in a post-pandemic environment, is about enabling financial health and participation in the digital economy. -
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Why Top Brands Must Enhance Embedded Finance Offerings to Remain Competitive to Win Consumer Spend
09/08/2022With consumers rethinking and reducing how much they spend on products; consumer brands will need to remain competitive and not just when it comes to price. To retain and win consumer loyalty, brands will need to get creative with their offerings. -
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How Seasonal Spending Habits Change the Way Companies Should Think About Customer Loyalty
08/15/2022Consumers have more retail choices than ever before, and just as many loyalty programs to consider. Retailers must differentiate their offerings by delivering unique offerings that are built around how a customer interacts with their brand. -
Transforming Marketplaces with Embedded Finance
07/28/2022At its core, embedded finance creates a payment experience that allows customers to complete the transaction without the hassle of entering any payment credentials. This Banking-as-a-Service (BaaS) model allows non-financial brands to integrate financial services via open APIs in a way that embeds payments deeper into their business’ infrastructure. -
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The Great Resignation: Financial Health Benefits to Help Turn the Tide
07/06/2022The financial well-being of employees is often dependent on how they can manage their personal finances. Better control over their lives, including how and when they are paid, is a trend that will continue to play out in the workforce dynamics. Earned wage access is part of the equation. -
Winning Consumer Spend: The Value of Embedding Payments into the App Experience
05/17/2022Outside of the seamless payment experience itself, allowing customers to automatically reload funds onto a card or payment account linked to an app creates a cohesive branded interaction. Enabling consumers to simply reload funds onto a card or payment account to continue their in-app experience gives customers exactly what they want: quick, frictionless payment experiences. -
Loyalty, Rewards and Payments: The Key to Owning a Customer's Spending Habits
05/12/2022The key to establishing loyalty programs that resonate is through dynamic industry partnerships that drive true customer impact. -
The Real Value to Leading with Creativity in Financial Services
04/20/2022What has ultimately won customers and creative awards for Netspend and our partners is the ability to cultivate a forward-thinking creative engine that can continue to serve our multiple audiences. It’s a holistic win for the entire Netspend organization, but specifically our team members, customers, and partners. -
Grow your business with a well-crafted embedded finance strategy
04/15/2022By embedding financial tools into the core buying experience, the most successful digital brands have figured out how to remove friction and create a seamless buying journey for the customer. They’ve created the type of experience that keeps customers coming back to purchase again and telling their friends about the ease and simplicity of the buying process. -
Hourly Workers Want More Financial Control — Earned Wage Access Can Help
03/28/2022Retaining hourly workers can be a problem but never more so than the past few months, when the sheer turnover rate has made it clear that employers need more financial tools to keep workers happy. Higher pay and signing bonuses are nice-to-have perks, but it’s also imperative that employers embrace what hourly workers are saying — they want to have more control over how and when they are paid.
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How Payments Technology Can Change the Future of Tax Payouts
03/28/2022Following the 2021 tax season, the IRS reported there was more than $1.3 billion in outstanding tax refunds from the year 2017. Whether it was because of human error, government oversight or simply a refund check mailed to the wrong address, this money stands to be left on the table. -
Why winning hourly workers isn't all about raising wages
02/21/2022According to a recent Netspend survey of nearly 2,000 hourly workers, 77% said they want faster access to earned wages, and 37% indicated they were willing to switch employers for the benefit of early wage access. -
Playing the game: Driving loyalty through repeat spend and unique payment experiences
01/07/2022Nurturing customer loyalty that drives repeat business is a lot like a successful playbook. Successful play calling requires building off what drives wins — repeatedly. Driving customer loyalty takes a similar approach, but with a few key pieces in your end-game strategy: Encouraging more spend, more often from repeat customers. -
Lifestyle choices and the future of payments: Adapting to shifting consumer trends
12/22/2021With the 2021 holiday spending season well underway, amidst the backdrop of a lingering pandemic, one payments trend is here to stay: lifestyle commerce. -
Employee Financial Health Benefits for Hourly Workers
12/01/2021If you employ hourly workers, chances are you’ve been facing major recruiting challenges for some time. -
Winning hourly workers with on-demand access to earned wages
12/01/2021Employers across the United States are working in earnest to rebuild workforces as the demand for services increases across a wide variety of industries. -
Employers’ top questions about Earned Wage Programs answered
12/01/2021If you’re among the many employers who are looking for new ways to stand out in an increasingly difficult employment market, you’ve probably heard that raising wages alone isn’t enough to compete for hourly workers. -
Why Non-Financial Brands Should Own Their Payment Experiences
11/10/2021In 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. -
The Future of Consumer Engagement Lies in Seamless Payments
11/03/2021Consumers are interacting more frequently and engaging deeper with digital payment experiences. That was the conclusion of the McKinsey annual Digital Payments Consumer Survey that indicates what consumers value most from their payment experience: simplicity -
Owning the Digital Consumer Experience: How Payments Drive Retail Loyalty and Sales
10/05/2021Understanding the correlation between how and why consumers spend is a critical component of owning the consumer retail experience. Driving that experience is the rise in mobile and digital payments that have the potential to boost loyalty and generate more sales. -
Addressing the Digital Payments Divide: Rebuilding Workforce Stability and Driving Profitable Growth
07/22/2021Digital and contactless payment methods have risen in popularity and use, yet many workers still receive at least a portion of their income via cash or paper check. This gap places a burden on segments of the workforce that must “digitize” their checks or cash to transact in an increasingly digital world. -
Your Employees Want to Save Money: How You Can Make Saving — and the Path to Financial Wellness — More Accessible
01/26/2021Saving 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
11/24/2020Employee 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. -
Adapting During Crisis: A Convergence of Two Key Trends Has Restaurants Rethinking Tip and Expense Payouts
05/20/2020We surveyed thousands of employers and employees to better understand the impacts these feelings have on the workforce, which are even more pronounced today. One thing is clear: employers who can help employees feel more financially secure see better retention and performance. -
The stimulus has arrived – here’s how to help your customers
04/22/2020For 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.
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Netspend Partners with WWE to Bring Financial Solutions to the WWE Universe
03/26/2020Netspend 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
11/03/2019More 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
10/16/2019Three 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
08/28/2019Only 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
08/14/2019Every 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? -
Payroll Practitioners: Want More Options for Paperless Pay? Here Are Four Points You Can Use to Get Your Boss on Board
07/15/2019The workforce is changing at a rapid clip, and forecasts indicate this evolution will only continue. Consider these key stats: -
Paycards: A Game Changer for Employers, Invaluable for Employees
06/17/2019With 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
05/30/2019Retaining 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
05/21/2019May 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. -
Case Study: Barteca Restaurant Group Simplifies Tip Payout, and Increases Accuracy with Netspend Tip Network™
04/11/2019Barteca Restaurant Group operates 29 restaurants across eight states, staffing up to 80 employees per location. With a staff in the thousands, Barteca knew its employees were handling large amounts of cash to pay out daily tips – a slow, cumbersome process that came with countless risks, including: -
5 Benefits of Paperless Payroll
03/20/2019By 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. -
Best Practices in Accounts Payable
03/05/2019By Jeff Johnson, Senior Vice President/General Manager, Commercial Prepaid, Netspend -
Payroll Programs: 6 Key Benefits of Electronic Paycards for Businesses
01/14/2019Whether you are a Fortune 500 company or a small business, payroll distribution can be costly and complex. Improving your payroll system by making payments electronically could save your business money in processing costs, while making it simpler for employees to receive their earnings. -
The Future of our Workforce: How You Pay Employees Can Pay Off For Your Bottom Line
01/02/2019Today’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
12/17/2018Earlier 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”).
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PaymentsJournal Talks Digital Disbursements with Netspend SVP Jeff Johnson
11/27/2018Netspend 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.