The days of employers issuing checks on a given date and then delivering a paper check to each employee are (and should) quickly becoming a thing of the past. With so many advances in technology and electronic payments, many small businesses are tossing the paper paycheck to the waste bin and opting for a more streamlined and inexpensive process for paying employees.
In a recent article on Mastercard Biz, How to Ditch Paychecks and Pay Employees Electronically, they looked at the barriers that are stopping some small businesses from converting to electronic payments and share tips and strategies to help them create a successful process in their business. This includes ideas on how to pay salaried employees and freelancers or contract workers. The article also discusses the various options available for making electronic payments. Options like ACH or PayPal – both of which are easy to set up and maintain.
If you are still cutting paper checks each payday, take a few minutes to read the article from MasterCard Biz and see how easy it is for you to implement electronic payments to employees in your small business.