Looking for a modern approach to employee perks? This episode explores the benefits of issuing virtual lunch cards using the Verestro Business Control solution. Our platform provides the opportunity to issue digital cards and manage business expenses. But in fact it can be used in multiple ways for companies. One of the use cases is issuing and managing lunch cards for employees. Tune in and contact us for more details!
Hey everyone, welcome back. We're going to do a deep dive today on something that I think is pretty cool. It's all about virtual lunch cards. Oh, yeah.
So we've been seeing more and more companies using these and we got a ton of research on it. And apparently, Verrestr's got this platform, Business Control that a lot of companies are using to manage these programs. Uh-huh. So we're going to dig into like, what are the benefits? What are the challenges and like, what does it all mean, you know, for companies? And luckily, we've got a FinTech expert from Verestro with us today.
Welcome to the show. Thanks for having me. Excited to be here. Awesome.
So let's just start with the basics, you know, for companies that are maybe hearing about these virtual lunch cards for the first time, can you kind of break down what they are and how they work, especially with Verestro's platform, this Business Control thing? Sure. Yeah. So basically, these virtual lunch cards are their digital cards. You can think of them kind of like prepaid debit cards, but they're just for food.
So our platform, Business Control, lets companies issue these cards to their employees and they can set spending limits. Makes sense. And they can even like, choose where the employees can use them. Like, you can make it so they can only use them at restaurants or grocery stores or like meal delivery apps.
Oh, interesting. Whatever really fits with the company and the employees. So it's not just like grabbing a sandwich at lunch. Right.
No, definitely not. I was reading this research and it seems like companies are getting pretty creative with these cards. Oh, yeah, absolutely. It's like ordering team lunches, paying for catering, even doing online grocery shopping.
Yeah. Have you seen any particular, interesting examples of how companies are using these? Yeah, for sure. We've seen some companies who've used the cards for like team lunches after they've hit some big milestone or to provide snacks in the office. Like healthy snacks and things.
Right. One company that used the cards to like help pay for healthy cooking classes for their employees. Wow. Yeah, it was part of their whole wellness program.
That's a really cool idea. It was a big hit. Yeah. I mean, it boosted morale and it encouraged healthier eating habits.
So yeah, there's a lot you can do with it. It seems like employees would love that. Yeah. But what about the companies? I mean, is there like a benefit for them too? Oh, absolutely.
Aside from just happy employees. Yeah, definitely. There's a financial side to it too. Especially when it comes to taxes.
Oh, okay. In a lot of places, there are these tax benefits that are specifically tied to meal allowances. Interesting. Like in Poland, for example, companies can offer their employees up to 450 PLN per month, tax-free.
And that's per employee. So that can add up to some pretty serious savings. Yeah, especially if you have a lot of employees. Exactly.
That's a huge chunk of change. But beyond the tax breaks, I was reading that these virtual lunch cards can actually help companies keep their employees. Yeah. Is that something you're seeing too? Yeah, definitely.
Employees really see these cards as a real benefit. You know, it's like a little extra every month that they can spend on, you know, something they like. Yeah. It really does add up to real savings for them and they appreciate that.
Plus, they get to pay with their phones through Google Pay or Apple Pay and they can easily check their balance, check their transactions, all through an app. Oh, that's convenient. Yeah. So, okay, so far it seems like it's all like sunshine and roses.
But are there any downsides? Are there any drawbacks? Because I did see in this research that some employees might not be happy about only being able to spend the money on food. Yeah, that's true. Some people might rather just have that money added to their salary. So they can spend it on whatever they want.
Makes sense. It's really important for companies to be upfront about that, to be transparent about like the benefits of the program. Okay. You know, one way to deal with that is to give employees a choice.
Oh, better. They can either take the lunch card or they can just have the money added to their paycheck. Gotcha. Some companies, what they'll do is they'll have a system where employees can decide how much of their benefits they want to put on these cards.
Oh, interesting. So they have some more control. Yeah, that makes sense. So I guess flexibility and choice are important here.
Yeah, for sure. Now, let's talk about setting all this up. Okay. I mean, putting a new system in place can be a pain, right? Yeah.
Especially for those bigger companies. What are some of the challenges that companies might run into and how can Verestro help with that? Oh, yeah. You're absolutely right. Implementing something new can be a challenge, especially for companies that have complicated payroll systems or maybe they've got employees all over the place.
That's where we come in. Our platform, Business Control, it's really easy to use. Okay. And it works well with all those HR and expense management systems that companies are already using.
Oh, okay. And we support our clients through the whole process. So I guess to sum it all up, these virtual lunch cards, they offer some really cool benefits for both the company and the employees. Yeah.
And if it's implemented the right way, it could be a win-win for everyone. I agree. It definitely can. So for anyone listening who's thinking about maybe launching their own program, here's something to think about.
What are some things you could do to make it a success? What features would your employees love? Would you give them choices? Would you maybe tie it into some wellness initiatives? There's a lot to consider. And for those who are ready to explore virtual lunch cards, I definitely recommend reaching out to Verestro. Their Business Control solution can help you get started. Thanks for joining us for this deep dive into the world of virtual lunch cards.
We'll see you next time for another one.
