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kafa88
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Erstellt: 20.08.21, 07:59 Betreff: Revolut launches advance payroll feature in the UK
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![](https://cdn.openbankingexpo.com/wp-content/uploads/2020/02/Revolut-partners-with-TrueLayer-for-UK-service.jpg)
Fintech startup Revolut is rolling out a new feature called Payday as an alternative to credit card debt and short-term credit. Because it allows you to unlock part of your wages early. If a business decides to integrate with Revolut, users will be able to access the features directly from the financial app.This feature is currently limited to businesses located in the UK.
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But the company plans to launch in the European Economic Area and the US as well. That's the trick — Payday will not be available to anyone who receives a salary in their Revolut account via direct deposit. Revolut must first be connected to your employer's payroll system. To let the company know how much employees earn at any given time.
Fintech startup says employers don't need to change payroll systems When finished Employees can unlock a portion of their earned income whenever they want. Users can withdraw up to 50% of what they earn in advance. While this feature is free for businesses, Revolut charges a small fee for users.
We believe in the importance of making financial well-being accessible to everyone. This includes focusing on the impact of financial security on employees' mental health,” Revolut co-founder and CEO Nik Storonsky said in a statement. “After the hardships of the past year The last thing employees need right now is financial instability and stress. It is important to move
away from situations where many People rely on expensive cash advances and short-term loans. which is a dependency that is deteriorating according to the monthly payment cycle.Paycheck to paycheck residents can take advantage of Payday for unplanned expenses, for example, if you have to fix your car and can't wait until the end of the month. You can unlock money instantly.
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Erstellt: 05.03.22, 09:11 Betreff: Re: Revolut launches advance payroll feature in the UK
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Erstellt: 05.03.22, 14:42 Betreff: Re: Revolut launches advance payroll feature in the UK
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