.svg)
Andover, UK – 02 February 2024 – CloudPay has been awarded Highly Commended in the 2024 Card & Payments Awards in the category Best Future Payments Initiative.
The entry ‘Revolutionising the employee pay experience’ highlights CloudPay’s Instant Salary Payments product offering - a new method of money movement, making it possible to pay employees directly to their debit or credit card virtually anywhere in the world in as little as 30 seconds. It has transformed the payroll process with how and when employees are paid. Instant Salary Payments also enables on-demand, instant access to earned wages, delivered through our mobile app ‘CloudPay NOW’ giving employees ultimate control of how and when they access their pay, with minimal disruption to company payroll departments.
Businesses too can benefit from crucial time savings and financial gains with Instant Salary Payments. Salary payments can now be processed on the nominated payroll day, rather than having to allow time for payments to make their way through the banking system. These time savings of typically 2 to 3 days are critical for payroll teams giving them more time to achieve accurate and timely salary payments. It also means that capital can stay in employer bank accounts for longer, aiding cash flow and potentially boosting interest payments.
“We are truly honoured to be awarded Highly Commended by the Card & Payments Awards for the Best Future Payments Initiative,” says Nick Webb, CMO at CloudPay. “This recognition is testament to our talented team members who continuously strive for best-in-class payroll innovation so that people can be paid accurately, on time, every time, regardless of their location. It demonstrates our mission to transform the payroll industry with fast, flexible access to salary funds, which is hugely valuable for employers and employees alike and inspires us to continue delivering The Modern Pay Experience.”
ENDS
