The UAE-KSA based startup’s breakthrough tech solution is radically reshaping the employee-employer relationship while bringing more income stability to workers.
In a world where most employees live from payday to payday, the small, unexpected expenses that come up from time to time are enough to throw off the average paid worker, causing immense stress and often forcing them to take time off work to sort out the funds they need. That situation is about to change, as an innovative tech startup based in the UAE and KSA uses technology and imagination to redefine the relationship between corporates and their employees and brings more financial stability to salaried staff across the region.
FlexxPay, a social impact technology company with offices in the GCC and Europe, is the leading Earned Income Access & Benefits Platform in the region. FlexxPay is transforming employer-employee dynamics by enabling staff and pensioners to access a portion of their earned income whenever they want and wherever they are. Salaries, commissions, pensions – all of these can be accessible to anyone at any point in time through FlexxPay’s pioneering tech platform, all in a secure and user-friendly environment and combined with other services that are beneficial to the workforce.
This is made possible by signing up with FlexxPay to enable all employees in the company to download the FlexxPay app. FlexxPay enhances the relationship between its corporate clients and their employees, reduces staff turnover and absent days while increasing motivation and productivity at work. The Sharia-compliant payment platform uses the latest technology and infrastructure and offers bank-grade security.
“FlexxPay secures for its corporate clients a balanced and trusted financial relationship with their employees,” said Michael Truschler, CEO of FlexxPay. “By removing financial stress from employees, FlexxPay allows staff to focus on work instead of thinking how to solve their financial emergency.”
“We believe everyone should be able to access their earned income whenever they so wish. If you’ve earned it, it’s yours to take, anytime you need it. The benefit for companies is to have a motivated and productive workforce while the workload on HR to deal with salary advance requests is removed. There’s zero cost for the company and zero impact on their cash flow, while the impact on profitability, efficiency and reputation is tremendous,” Truschler added.
Over the last few years, companies of all sizes have been looking for ways to increase employee motivation and engagement at work, and foster an environment of trust and employee welfare. This has been particularly difficult to achieve for companies who can’t afford to simply give cash rewards such as pay increases. FlexxPay has filled this gap with companies signing up every week to introduce this unique employee benefit to their workforce. A company signs up with FlexxPay, informs the workforce of this new employee benefit, staff downloads the app and is ready to access all services provided by FlexxPay. The company has seen an increase in sign-ups of more than 60% in just the last few months.
FlexxPay is making its presence felt in the GCC market at a time when digitization and offering innovative solutions is on top of the agenda of every corporate and government entity – a trend accelerated by the COVID-19 pandemic. It also coincides with the phenomenal growth of the MENA fintech market, which is expected to reach $3.45 billion by 2026.