Two Canadian payments vendors have introduced a payroll card in that country.
The prepaid card provider Mint Technology Corp. in Toronto and Perceptech Inc. in Laval, Quebec, announced the card Thursday and said that the wide use of such cards in the United States indicates that there will be similar demand for them in Canada.
Mint's subsidiary Mint Capital Corp. is working with Perceptech's CashValet Financial Services Inc. unit, which provides direct deposit technology.
"The use of prepaid cards for payroll is one of the fastest-growing prepaid card segments in the United States, and we expect similar adoption in Canada," said CashValet's chief executive, Celine Charlebois, in a Mint press release.
