Canada-based fintech Nuvei has partnered with employee pay provider CloudPay to enable the latter’s customers to access faster, more flexible payroll solutions. Nuvei’s technology and global reach through a unified solution provide significant advantages for CloudPay customers that demand the ability to make payroll fast, flexible, and certain.

The partnership also supports a broad range of global salary payment solutions, including the capability to push salary payment to cards through Visa Direct, reducing payment times from days to 30 minutes or less. These expanded capabilities generated through the partnership are currently live in the US, and an expansion into new regions including Europe and APAC is expected to launch before the end of 2023. Officials from CloudPay said this partnership enables them to meet the increasing demand for innovative payment solutions that are augmenting the end-to-end employee pay process and introducing new methods to attract and retain talent.

Also commenting on this collaboration, Nuvei’s representatives said they’re happy to be demonstrating yet another use case for our cutting-edge payments technology. This mission enables partners to offer an enhanced payments experience for pay ins and payouts, connecting businesses with their customers, including employees. Facilitating CloudPay to provide an augmented payroll solution shows how their adaptable, customisable platform continues to transform online payments on a global scale.

Equipping employees with instant salary payments via debit card CloudPay data finds 95% of employees who use the CloudPay NOW app choose to use their debit card to receive salary payments because the transaction is instant and available 24/7. Traditional salary payment structures rely on banks and limited hours of operation. There are no waiting periods when transactions are processed through Nuvei.

In some instances, this allows companies to move from a biweekly pay cycle to a monthly cycle, saving time, money, and resources. According to CloudPay, the next generation of global money movement is one where companies may soon say goodbye to the traditional, biweekly pay cycle. CloudPay and Nuvei are at the forefront of providing solutions that help workers access their pay faster.

With Visa Direct, CloudPay’s clients can eliminate inefficiencies associated with traditional ways that employees are paid, and provide quick access to the money they’ve already earned. CloudPay, in collaboration with its partners, is shaping the contemporary pay experience. By forming strategic partnerships that enhance capabilities and accelerate processes, the company is raising pay beyond a mere operational function, making it a pivotal driver for businesses.

Employers seeking to enhance the employee experience now possess the means to achieve this on a global scale. For more information about Nuvei, please check out the company profile in The Paypers Company Database. .