Tesco use the Tuxedo MasterCard Prepaid Card as a payroll solution for a small section of staff. It is an easy solution for paying their employees, particularly those who do not have bank accounts or are employed on temporary contracts, and avoids tedious administrational duties whilst reducing cash and cheque handling costs.
Salaries can be uploaded directly to the employee’s card for immediate use without the need for a bank account. The prepaid card also allows access to the employee’s balance online as well as the ability to shop online. Since the launch, over £1.9 million has been loaded onto the Tuxedo Cards for Tesco and there have been over 30,000 transactions and ATM withdrawals in this time. Tuxedo are currently issuing on average 30 new cards a week to Tesco employees.
Tuxedo is able to provide a fully outsourced solution, including: integrating the payroll system with the credit card issuer system, providing a simple administration process for the partner’s finance department and arranging for a dedicated Tuxedo call centre to deal with all employee and customer queries.