Initiative provides easier access to banking for hourly employees, even those without existing accounts.
Grazzy, a leading digital tipping platform, has joined with U.S. Bank to offer a prepaid debit card program for hourly employees to easily access tips. Employers enrolled with Grazzy’s digital tip service and the prepaid debit card program can issue employees a physical debit card and route tips and wages to the card, enabling access to tipped wages at the end of each shift. Like the Grazzy digital tip service, the U.S. Bank prepaid debit card program helps reduce costs for the employer and provides security and convenience for tipped employees.
Paired with Grazzy’s cashless tipping platform, the debit card makes it easier for employees to access their earnings instantly, regardless of their banking status.
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The debit cards also boast banking features like:
- No U.S. Bank fees charged for in-network ATM access
- Mobile app convenience
- No overdraft fees
- FDIC insurance
“This program furthers our mission to improve financial wellness for workers,” said Courtney White, VP of Growth and Operations at Grazzy. “Inclusive banking solutions are essential to that mission. With this program, employers can now offer every employee instant access to their digital tips, as well as helping them spend and save in better ways.”
The program is also designed to help employers retain employees longer and deliver a better pitch to job seekers. Grazzy and the new prepaid debit cards from U.S. Bank give employees instant access to tip earnings, helping employers deliver flexible pay options without changing their entire payroll structure.
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“Direct debit options empower employees to manage their finances more effectively and access their earnings without delay,” said Ben Osmond, Senior Vice President in Treasury and Payment Solutions at U.S. Bank. “The ability for companies to provide both the Grazzy digital tipping option and the U.S. Bank prepaid debit card solution not only creates convenience and security for employees, but also fosters a more motivated workforce and cost savings for employers.”
U.S. Bank has deep history delivering efficient payment solutions to the hospitality industry. For example, many restaurants across the U.S. utilize the U.S. Bank Focus Card to pay employees. The reloadable Focus Card helps businesses reduce check issuing costs and digitally pay employees without a bank account. Cardholders can manage accounts via an app, receive text alerts when funds are deposited and withdraw funds from ATMs. Elavon, the payment processing business of U.S. Bank, is an industry leader in hospitality, providing payment services to six of the 10 largest hotel brands.
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This collaboration between Grazzy and U.S. Bank comes at a critical time as service industries continue navigating evolving post-pandemic workforce dynamics. As cashless tipping becomes a more common element of tipped jobs, this initiative provides a scalable solution for employers seeking to modernize their payment processes and improve employee satisfaction.
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Source – Businesswire
