CloudPay announces public launch of EWA offering CloudPay NOW
By Pavithra R
CloudPay, defining the modern pay experience by providing global payroll, treasury, and on-demand pay solution, has announced the public launch of CloudPay NOW.
On-demand pay, also known as earned wage access (EWA)– enables workers to tap into their pay balance as early as the day it is earned. In contrast to existing credit card debt and payday loans that charge steep fees, this real-time pay system reduces financial stress for employees. With CloudPay NOW, employers can better retain workers, increase engagement and improve employees’ financial wellbeing. The solution addresses the financial wellness pressures of today’s employee pay experiences. It enables multinational organizations to offer earned wage access in advance of payday through a global technology solution.
“Workers in every country face increasing pressure from financial stress. That’s why CloudPay is expanding its offerings to help employers better position themselves to attract global talent in a competitive job market. Employee pay is more than just a paycheck — it’s about access, control and most importantly, flexibility. CloudPay NOW enables companies to deploy on-demand earned wage access as a global benefit to support employee wellbeing and retention,” said Josep Elias, CloudPay’s chief strategy officer.
For employees, the CloudPay NOW mobile app includes real-time multi-language support and resources to empower them to take control of their finances, reduce financial stress and make informed decisions about their pay.
“As a leader in global pay, it was important that we take the time necessary to deliver an earned wage access solution with the same robust qualities our clients expect. The expectations of workers have changed significantly in the last year, making CloudPay NOW a benefit that every global employer needs to offer,” said Paul Bartlett, CloudPay’s chief executive officer.
CloudPay NOW is fully integrated with CloudPay’s global payroll and treasury solutions, allowing the firm to deploy this new earned wage access product across 130+ countries.
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August 19, 2022
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