CloudPay partners with Visa; indi deploys Early Pay – Digital transactions

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CloudPay, an Employee Payment Solutions Provider, Partners with Visa Inc. to Enable Direct Payroll Deposit to Employee Debit or Credit Cards Through Visa Direct, Visa’s Real-Time Payments Network Inc. The new service is expected to provide employees with immediate access to their funds compared to the two to three days it takes for funds to become available after a direct payroll deposit into their checking account. Payments are processed by Checkout.com, a London-based fintech.

Additionally, CloudPay offers CloudPay NOW, a mobile application connected to Visa Direct. Employees use the app to make quick card payments from their earned wages before payday. Access to earned wages is a low-cost benefit that allows employers to meet new employee expectations, especially on-demand access to earned wages, explains CloudPay.

The first company to offer CloudPay NOW, which launched in 2021, reported 30% employee adoption after two months, according to CloudPay. The company, a global luxury retail brand, offers CloudPay NOW as an employee benefit to provide on-demand access to wages already earned, which effectively allows employees to choose their own payday, explains CloudPay.

“Enabling solutions that help workers get to their paychecks faster through access to earned wages and payroll solutions is more vital than ever,” said Nicky Alexander, head of Visa Direct Europe, in a press release prepared. “That’s why our partnership with CloudPay is so important. We are delighted that Visa Direct is now supporting businesses in their efforts to improve their payroll systems and enable on-demand payments for their employees.

In related news, indi, a Pittsburgh-based digital banking solutions provider, on Tuesday announced the launch of Early Pay, an app that allows gig workers, independent contractors, freelancers and freelancers to receive payroll deposits directly through the app. . The app, which is free, will allow all indi users to access their paychecks up to two days earlier.

Early Pay is made available to indi users based on automated clearing house instructions received from their payers. If indi receives information about a user’s direct deposit from the payer before the user’s scheduled payday, the funds are released sooner.

“Indi was designed for anyone earning 1,099,” says Chris Yates, Managing Director of indi. “Helping the rapidly growing population of construction workers find work, earn more money, and get paid faster is at the heart of everything we do, and we’re excited to be able to offer our users access quicker to the money they earned.”

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