How Mobile Wallets Can Become Your Company’s Payroll Solution

Forward-looking companies don’t pay salaries in cash anymore. In a world that’s fast-moving to a cashless society, using mobile wallets is the way forward. This technology is popular for two reasons: adaptability and functionality. And both these features can contribute to the long-term success of mobile wallets as the one, true solution to company payroll issues. 

Importance of mobile wallets for payroll

The benefit of having a flexible technology as a payroll solution is that employers can customize the features depending on the facilities that they want to provide. For example, many companies don’t use mobile wallets only as a payroll solution. They also include several other features like investment options, loyalty programs, financial guidance, and savings schemes, all using a single wallet. The Velmie mobile wallet is a prime example as it offers a myriad of functionalities geared toward payroll and investment opportunities for employees.

The financial success of employees using mobile wallets

Mobile wallets are not just helping companies streamline their payroll process; they are also providing employees with a wide range of financial tools to guide them toward a better savings journey. Moreover, mobile wallets seem more practical when it comes to modern-day payroll solution.

Most employees, no matter what their age is, rely a lot on their mobile phones. Whether it is at work or at home, they can’t seem to live without their smartphones these days. Companies can take advantage of this digital lifestyle.

A branded mobile wallet used by a company can reinvent employee experience altogether. Employers can use the wallet to pay their employees and also go on to build an office community where they can engage digitally. For example, consider WhatsApp. This application was long known for its quick messaging service. However, with the introduction of a new payment feature, you can pay your friends and relatives directly through this app. So, it’s not just limited to a messaging app now. It takes care of payments too. 

Companies are now using the same concept while using mobile wallets. It’s their personal application that provides multiple functions like paying salaries, communication, and file sharing. In fact, this technology aims to foster the connectivity among employees and employers so that everyone feels that they belong to the workplace. It is a way of personalizing the experience that matters the most. Most importantly, using mobile wallets save a lot of transaction fees and reduce the risks of getting mugged.

Cashless is the future

When you use mobile wallets as a payroll solution, you are also encouraging employees to go cashless. Most stores and shopping centers these days accept direct payments from mobile wallets. You don’t have to worry about bringing your credit or debit card or even your regular wallet. As long as you have money in your salary account, you can keep using it wherever you go.

Mobile wallet as a payroll solution is a step forward into the future of going cashless. It’s fast, it’s convenient, and it comes with tons of benefits both for employers and employees.


  • Editorial Director of the The Fintech Times

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