Zellis works with Income Group on faster payments
Payroll and Human Resources (HR) company Zellis is working with Income Group, powered by its strategic partner Mastercard, to bring faster payroll payments to its UK customers and offer a faster option than traditional Bankers Automated payroll transfers Clearing Services (BACS), according to a press release.
Zellis offers payroll and human resources tools to its clients in the UK and Ireland, which include one-third of the 100 companies on the Financial Times Stock Exchange (FTSE).
CEO of Zellis John petter said Faster Payments brings “the speed and efficiency” to customers that companies like PayPal and Revolut have demonstrated. “It’s time for employees to have the same speed, flexibility and accuracy in their payroll, whether paid monthly, weekly or, in the future, even daily,” he added.
See also: Position payroll closer to the employee
While individuals have seen the benefits of near real-time money transfers with Faster Payments, this hasn’t been the case with payroll, which still relies heavily on the old BACS system. Using BACS, people have to wait up to three business days to receive their money.
Zellis’ faster payments allow organizations to manage these payments in seconds every hour of the day, seven days a week. “This gives payroll teams much more flexibility in processing payroll, in addition to free up time for more strategic work, ”according to the press release.
Read more: B2B participation could be the key to real-time payments
Income Group CEO and Founder Ian Wheeler said that by partnering with Zellis he can broaden his “faster payments footprint” and advance the positive disruption in payroll.
“Payroll is the most important payment a business can make, trust between employer and employee being paramount. Zellis is a forward-looking organization, leading the charge, embracing the bright future of faster payments and supporting the “not if but when” cause for business, ”said Wheeler.