Employee Financial Wellness through Allowances, Incentives, Benefits and Reimbursements
To make the employees feel valued, it is important that the organisation takes extra care and effort to provide benefits to them. This brings overall happiness to the employee as it makes the employee feel special and additionally also helping the employee in saving on taxes and providing overall wellness.
For decades employee allowances (also called fringe benefits) were provided by companies to their employees. This is on top of the salary that is paid into the employee bank account (salary account in case of larger organisation).
The paper-based meal coupons, LTA, HRA and annual medical claims were some of the most popular employee benefits provided in India.
With the RBI insisting on moving digital from the paper-based coupons, Indian corporates adopted digital solutions like:
Meal Wallet / Card,
Fuel Wallet / Card,
Gift Wallet / Card,
Books and periodicals Wallet / Card,
Medical or Health Wallet / Card,
Mobile, internet – Communication Wallet / Card
With a single card, providing multiple benefits to employees can help reduce administration from a simple and easy to use dashboard.
Thus, a Multi-wallet Card issued through a bank that is accepted across all online & offline card accepting merchants in India became popular.
The benefits of an employee wallet + card like this is that it can also double up as an expense management card for handling claims and reimbursements.
Paysack Benefits Card
We have been able to help various companies succeed with their Employee Benefits Wallet and Card.
Paysack Benefits Card is used by some innovative companies working in the areas of Enterprise software, Financial services, capital markets, AI, ML, and other innovative technologies.
Do you want to cater to the financial wellness of your employees through a wallet + card?
Do you want to launch your own card program for your customers? Read more here
Are you a Fintech wanting to embed cards via simple, easy to use APIs into your program / product? Read more about the Paysack Card Platform here
Are you a developer who wants to get started by embedding card APIs to your product flow, then get started here
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