To reduce paper paychecks and pay stubs distributed to Walmart and Sam’s Club associates in the US
MasterCard, Walmart and First Data have announced a new payroll program designed to reduce the number of paper paychecks and pay stubs distributed to Walmart and Sam’s Club associates in the US. Mastercard has said that to benefit both associates and the environment, the electronic pay program will include the deployment of the Money Network, MasterCard Paycard and electronic pay stubs.
Reportedly, Walmart associates may receive their pay either by direct deposit or through the First Data Money network program and may access their wages through the Money Network MasterCard Paycard or Money Network checks. It has added that associates will not need to come in on their day off or while on vacation to receive their pay, and they will have the convenience of receiving cash fee-free at any Walmart or Sam’s Club register. The new electronic pay program is likely to be rolled out to all US associates in September. Additionally, First Data will provide the processing and reload network for the program as part of First Data’s Money Network Payroll Distribution Service.
Ed Labry, president, retail and alliance services, First Data, said: “Walmart is raising the bar for employers everywhere by providing associates who don’t have bank accounts with immediate access to funds on payday, without fee or discount, and access to cash at thousands of locations across the country. Associates may also write Money Network Checks payable to themselves or use them to pay bills, just like any other check.”
Tom Schoewe, executive vice-president and CFO, Wal-Mart Stores, said: “It provides our associates with fast, convenient and safe access to their pay. The program’s ability to reduce paper usage is right in line with Walmart’s commitment to eliminate waste wherever we can.”
Chris McWilton, president, US markets, MasterCard, said: “We have worked closely with Walmart and First Data to develop a customized program that will simplify the payroll process and support environmental sustainability. MasterCard will be the exclusive brand for the card, which can be used anywhere Debit MasterCard is accepted, including ATMs.”