Dubai: FlexxPay, a social impact technology company has joined forces with Abu Dhabi Commercial Bank (ADCB) for ease in salary payments.
Together, they provide a digital bank account for anyone - with no minimum balance requirements, a variety of employee benefits and a comprehensive payroll solution to corporations. The solution, a media statement from the firms said, will remove costly payroll cards and time-consuming methods required to process salaries to unbanked employees.
As the leading Earned Income Access and Benefits Platform in the MENA region, FlexxPay’s Sharia-compliant tech platform allows salaried employees to access a portion of their earned income – whether it be salaries or commissions – whenever they need it and wherever they are. The platform offers a payroll solution for companies and other employee benefits such as a savings tool.
FlexxPay’s cooperation with ADCB means that companies in the UAE can now provide digital bank accounts to their unbanked employees via the FlexxPay app – thus giving the employees access to the services and benefits offered by FlexxPay, including the ability to access earned wages on demand.
Not only does the transition from unbanked to banked employees help the company tremendously, but the employer also gains access to the full suite of ADCB’s payroll services and FlexxPay benefits. FlexxPay’s services aim to increase staff motivation, productivity and sales while reducing absent days and workload for HR teams.
Michael Truschler, CEO of FlexxPay, said, “Through the cooperation with ADCB, FlexxPay gives all our clients the option of automatically providing a bank account to all their employees. Once a company signs up with FlexxPay, anyone can open a bank account via the FlexxPay app and avail all the services we offer. This is a game changer for companies juggling with multiple salary processing methods each month due to having a proportion of their staff without bank accounts. Companies can further choose to sign up to our cloud-based payroll solution – free of cost.”
Enrolling with FlexxPay is simple and comes at no cost to the company. Once signed up with FlexxPay, the company’s workforce is informed about the new employee benefit, staff download the app and can immediately access all services provided by FlexxPay.