Skip to the content

Procurement Market Intelligence Report

Payroll Card Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Payroll Card Services?

What is the average price of Payroll Card Services?

This procurement report includes pricing information to help you purchase Payroll Card Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Payroll Card Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Payroll Card Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Payroll Card Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Payroll Card Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

Market share concentration in the payroll card services market is moderate. About 8,042 firms provide payroll card services, including banks, credit card processors, payroll service providers and payroll card specialists. The top four providers collectively earn between 40.0% and 50.0% of total market revenue. The moderate level of market concentration... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Supplier Background

How many clients are you currently servicing?

What is the average deposit value you handle at any given time?

How long has your firm operated in the market for payroll card services?

How does your firm track regulatory changes and maintain compliance with applicable laws?

What other services does your firm provide? Can I earn a discount for bundling different services?

How many businesses have you serviced in our industry? Of our company's size? Would they be willing to provide references on your behalf?

COVID-19

Do you source materials with high exposure to market disruptions resulting from the coronavirus? How are you coping with these disruptions?

How diversified is your supplier base for inputs? Do you source from multiple suppliers in different global regions?

Amidst widespread health concerns, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Are you experiencing fluctuations in demand as a result of the coronavirus pandemic? What measures are you taking to handle increased/reduced demand?

ATM Network

Where are your ATMs located? Is your network local or national?

Do you operate your own ATMs or use the network of another company?

How are ATM errors handled?

How routinely are your ATMs serviced? What measures do you take to ensure that they are working properly?

Fee Schedule

Is there a monthly maintenance fee?

Do you charge an inactivity fee?

Do you charge an account closure fee?

Do you charge employees for physical account statements?

What charges do you assess to replace lost or stolen cards?

How does your firm handle account overdrafts? If they are allowed, what is the associated fee?

Fund Security

How would you rate your firm's bankruptcy risk?

Does your company own each employee's account directly or are they transferred to a bank that oversees the funds?

What measures have you taken to improve your cyber security against hackers aiming to steal funds?

What protections are included with each payroll card to prevent fraud? In the case of fraudulent charges, who bears liability?

What type of insurance do you have on account funds? Are individual accounts insured by the Federal Deposit Insurance Corporation?

Implementation Practices

How will employees enroll in the program?

What are the technical requirements for enrollment?

How long do you expect the implementation process to take?

How does the card loading process work?

What types of educational and marketing tools do you provide to teach employees about the cards?

Customer Support

What hours are your customer service lines available?

Are there any fees associated with your customer service lines?

What resources do you provide for employees to obtain information about their account balances?

In what languages do you provide customer service? Do you offer support for Spanish speakers?

Through what means do you provide customer service? Telephone only, or do you also offer online or in-person access?

How do you respond to customer complaints? Do you have a process in place for handling issues?

“Sending out RFPs used to be a nightmare”

Let’s chat about how procurement market intelligence can reduce 
the time you spend issuing RFPs.

Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should disclose the total value of the contract for payroll card services, if applicable.

Buyers should specify any expectations they have regarding the fees that their employees will have to pay when using the payroll cards.

Buyers should reference the Benchmark Price section of this report to confirm that they are paying a competitive price for payroll card services.

Selection Criteria

Buyers should consider the ATM networks that different providers offer.

Buyers should evaluate providers based on their fee schedules, particularly regarding which fees employees will be responsible for covering.

Buyers should take into account providers' experience in the payroll card services market.

Buyers should consider the financial stability of potential providers.

Buyers can consult the Buying-Decision Scorecard section of this report for additional criteria to consider when choosing a supplier.

Project Schedule

Buyers should state when proposals for payroll card services are due.

Buyers should indicate when final announcements of contract awards will occur.

Buyers should state the preferred length of the contract.

Buyers should include the date by which services must be implemented in their organizations and state when the cards need to be available to employees.

Evaluate major factors to mitigate risk

How risky is the supply chain?

Providers in the payroll card services market have faced a low level of supply chain risk in the three years to 2020. This level of risk promotes buyer power because it means that providers are less likely to encounter disruptions that prevent them from delivering services or that significantly raise... Subscribe to learn more.

HIGH

MEDIUM

LOW