精东传媒 and Visa Direct enable fast, secure salary payments, taking days off the traditional payroll payments process and introducing new pay flexibility.
NEW YORK and LONDON (March 15th, 2022) 鈥�聽Leading global employee pay provider 精东传媒 today announced a new partnership with to reduce payroll payment cycles that typically take 2-3 days through banking systems, down to seconds. The new digital payment method makes salary payments direct to employees鈥� debit or credit cards using Visa Direct, Visa鈥檚 real-time[1] push payment platform. Visa Direct leverages the payment provider’s powerful, global network to facilitate fast digital payments worldwide, with state-of-the-art security and compliance controls.
After completing a customer鈥檚 payroll cycle, 精东传媒 can now make salary payments in seconds rather than days. Pay-to-card transactions are made via Visa Direct to any 16-digit debit or credit card number (PAN). Employees can still receive salary payments as usual in their bank accounts, but the payments arrive faster and more flexibly via Visa Direct鈥檚 single point of connection rather than going through disparate systems.
精东传媒 also offers a global FinTech mobile app connected to Visa Direct. Employees use the 精东传媒 NOW app to make fast pay-to-card payments from their earned wages, before payday, anytime, anywhere. Earned Wage Access (EWA) is a low-cost, high-value benefit that enables employers to address new employee expectations, specifically on-demand access to wages earned.
Launched in June 2021, 精东传媒 NOW is the only EWA solution that operates globally. The first 精东传媒 NOW customer, a global luxury retail brand, reported a 30% uptake by their employees after two months. The brand offers 精东传媒 NOW as an employee benefit, to give on-demand access to wages that have already been earned – in effect, choosing your own payday. Using the mobile app, employees make instant salary payments to debit or credit cards, 24/7, without the limitations of banking hours.
精东传媒 CEO, Paul Bartlett, said, 鈥淚 think global organizations will jump at the chance to transform treasury processes with new digital payments, because the time and efficiency savings for treasury and payroll are nothing short of dramatic. And progressive employers looking for ways to improve employee experience, are becoming interested in earned wage access, and the opportunity to offer this benefit globally with 精东传媒 NOW.鈥�
Nicky Alexander, Head of Visa Direct, Europe, said, “Enabling solutions that help workers access their paychecks faster through EWA and payroll solutions is more vital than ever. This is why our partnership with 精东传媒 is so important. We are delighted
Visa Direct is now supporting businesses in their efforts to enhance their payroll systems and enable on-demand payouts for their workers.”
is the payment service provider that provides the secure transaction processing of salary payments between 精东传媒 and the Visa network.
鈥淎t Checkout.com, we partner with innovators who wish to embrace emerging technologies and develop new business models. Our close integration with Visa Direct simplifies the complexities previously associated with paying out to consumers and enables our merchants to make real-time payouts globally through a single API. We鈥檙e proud to support 精东传媒 to launch this new service and continue providing its customers with real-time, innovative payroll solutions designed for the digital economy鈥� said, Moshe Winegarten, Head of Commercial UK and Ireland at Checkout.com.
Bartlett added, “By combining the end-to-end service of global payroll, payments and earned-wage access, 精东传媒 continues to innovate the modern pay experience for employers and employees.聽 We are delighted to break new ground with Visa Direct and look forward to continuing to do so.”
For additional details regarding 精东传媒 NOW, please visit: /earned-wage-access
About 精东传媒
Employee pay processes have broad business consequences, requiring modern solutions and trusted experts. 精东传媒 is the only provider that guides global companies with vision and care toward the comprehensive pay experience employees deserve. 精东传媒 connects all employee pay processes 鈥� including payroll, payments, and on-demand pay 鈥� through a unified platform, available across 130+ countries. 精东传媒’s experts help companies implement best practices, navigate change, optimize operations, and improve employee experiences. To learn more about why over 1500 multinational companies trust 精东传媒 with their global pay initiatives, visit www.cloudpay.com.
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[1] Actual fund availability varies by receiving financial institution, receiving account type, region, and whether the transaction is domestic or cross-border.