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?
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?
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?
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?
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Key elements for every RFP
What should my RFP include?
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.
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.
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.