Paycom Vault Payroll Card

Paycom Vault Payroll Card: Paycom describes Vault as a Visa payroll card offered to the employers that use its payroll software. The company announced it in 2022 in a press release carried by its investor site, 405 Magazine and Techr Series.

Paycom company profile Paycom official website

Paycom Vault Payroll Card: Vault Payroll Card

Its blog explains the card as a way to support hiring and retention.

According to Paycom, the card lets an employer pay employees electronically without paper checks. An employee receives a digital card when approved followed by a physical card by mail.

Paycom says Vault is offered only to Paycom clients.

For employers, the company lists efficient payroll disbursements, less paper handling, better cash management and reduced check fraud through secure electronic funding. It also frames the card as an additional benefit that can help an employer compete for workers in a tight labor market.

The product is a payroll service feature and not dealership software. SoftwareOne lists Vault in its marketplace, and Sonary and KnowTechie carry outside descriptions of Paycom.

An owner or controller would ask which employees are eligible and whether participation is voluntary, how fees to employees are disclosed and whether any apply, how state wage payment laws about pay methods are followed, how the card fits with the store's other payroll methods and how the store tracks funds. Some states restrict how an employer may require payment by card, so consent practices matter.

Because commissions and spiffs are a large part of dealership pay, a store would also ask how variable compensation is loaded onto the card and reported. The category guide for payroll and HR tools lists a neutral checklist for use with Paycom and other providers.

Ask what is included. Confirm each point directly.

Vault is a Visa payroll card that Paycom offers to employees of companies that use its payroll system. Employees can send some or all pay to the card, enroll in the Paycom app, add a digital card to a phone wallet and use the card where Visa debit is accepted.

Paycom says pay can arrive up to two days earlier, there is no monthly fee and ATMs in the Allpoint network are free to use. For an employer, it reduces paper checks.

A dealership should confirm that employees can still choose direct deposit to a bank account and how its state's wage payment rules treat card pay.

Paycom Vault Payroll Card functions
Product or service	Function
Vault Payroll Card	A payroll card product.