Unfortunately, consumer protections relating to how workers are paid have not fully caught up to changing payment practices. Fees associated with these products may extract wealth from the very workers who can afford it least. However, the emergence of payroll cards and similar products that may be developed in the future carries risks as well. Payroll cards-an electronic form of workplace compensation that is a type of prepaid debit card-can provide unbanked individuals with increased access to the financial system, as well as the benefits of safety, convenience, faster payments, and ease of use that come with it.
