Retail giant Tesco required a cost-effective payroll solution for staff without bank accounts or employed on short-term temporary contracts.
The Tuxedo Prepaid MasterCard® Card allows salaries to be uploaded directly to the employee’s card for immediate use without the need for a bank account. The card also lets employees access their balance online and gives them the ability to shop online.
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.
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. Admin time has also been significantly reduced along with cash and cheque handling costs.