Wal-Mart Stores Inc. announced Thursday that it has begun offering its employees payroll cards provided by First Data Corp.
The Bentonville, Ark., retailer also offers to pay its employees through direct deposit. Those who opt to receive funds on a payroll card will receive a MasterCard-branded card, which they can use to make purchase, or to receive cash at Wal-Mart and Sam's Club cash registers without paying a fee.
"Wal-Mart is raising the bar for employers everywhere by providing associates who don't have bank accounts with immediate access to funds on payday," Ed Labry, First Data's president of retail and alliance services, said in a press release. First Data is a unit of Kohlberg Kravis Roberts & Co.
Wal-Mart said another perk for employees who receive use the cards is that they need not come to their workplace if a payday falls on their day off.
