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Payroll Cards for unbanked Hispanic Workers
Choosing the optimal Payroll Card Provider for your unbanked Hispanic Workforce

Abstract:

The economics of offering payroll cards to your Hispanic workforce are compelling. Without doubt, they provide a win-win for both the employer and employee. However, the unbanked Hispanic worker has an innate distrust of financial institutions and is very reticent in disclosing personal and financial information.

This distrust, coupled with a complete lack of understanding of the cultural and ideological barriers faced, has made it extremely difficult to communicate the benefits of payroll cards to unbanked Hispanics. It is critical that the Payroll Card Provider understands these issues and has a strategy in place, to counter the distrust and cultural and ideological barriers. There is currently a complete disconnect between the consumer needs of unbanked Hispanics and existing financial products.

This white paper defines the problems faced by unbanked Hispanics, the ideological and cultural barriers inherent within this workforce and what is required to transition over to 100% direct deposit.

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