Through this partnership, Paysend will empower RemotePass with a new instant payout to cards feature for global payroll. This intuitive capability allows remote workers to receive payments swiftly and affordably by transferring funds directly to their local cards, ensuring an efficient and seamless payment experience and eliminating delays when managing payroll.
To take advantage of this service, remote workers only need to link a valid bank card, in their name, to RemotePass. Users will employ Mastercard or Visa rails to transfer money instantly and directly. With this streamlined process, there is no longer any payday uncertainty, removing the incursion of traditional SWIFT or intermediary bank fees. 90% of transfers are completed within 15 seconds or less.
Paysend will power Ontop’s new payout-to-cards capability for employee and contractor payroll. This will enable remote workers paid through the Ontop platform to send their money directly to their local cards instantly and at a low cost.
The Ontop platform enables companies to scale internationally and currently provides employer-of-record services (EoR), compliance, and payroll services to over 950 companies worldwide.
The Covid-19 pandemic accelerated significant macro workforce trends, with remote working and digital nomadism fundamentally shifting where and how employers access labour. With all the world’s economies now fully reopened, global businesses are embracing the value of being able to hire workers and contractors remotely, regardless of their geographical location.
In an article published on Business Reporter, Ashley Mallet, Head of Business at Paysend talks about how fintech has made banking and finance easier for SMEs by removing hurdles in areas such as lending and cross-border payments via technological advancements in online and mobile banking. Following the 2008 Financial Crisis, banks reduced their banking activity, constraining small businesses’ potential to upscale. To increase competition in the sector and encourage new players to enter the financial market, new legislation has also been passed in several countries to create a level playing field.
