Despite the numerous disadvantages it poses, the paper check still plays a big role in a B2B world. It’s a fact that 51% of business-to-business (B2B) payments in the US are made by checks, according to AFP’s 2016 Electronic Payments Report. We’ve made a comparison in the different ways you can pay your employees before, which you can read here.
That raises the question: why do businesses continue to use checks, and what has led to a slow uptake in alternatives in B2B payments? Maybe it’s the sentimental value it holds (the first printed versions were introduced in 1762)? Or simply because your business (or your employees) are not ready for the change just yet.
Juice for Business makes it easy to switch
Don’t worry, we are here to help you out. The pay(out) cards from Juice for Business are easy to use, and easy to manage. You simply create an account yourself, sign up your employees and assign them a Payout Card. On each pay period, you transfer their paycheck onto the card, through your computer or phone. It really is that simple.
By using a platform like Juice for Business, you switch to a more secure and less expensive option for paying your employees and contractors. Your employees get access to an online platform where they access their money and check their balances. You as the business owner can transfer their paychecks instantly from the platform, directly to their Payout Cards
Furthermore, employees don’t have to wait in line to get their checks cashed, and don’t have to pay any cashing fees.