CRS Technologies has partnered with financial technology platform PayCurve to provide corporate customers with the means to drive employee financial and emotional wellbeing by providing staff with flexible access to a portion of their earned salaries at any time during the month.
“We have encountered several companies of this nature, but PayCurve is the only one that meets our standards of integrity by ensuring that employees’ dignity and ability to make ends meet is preserved,” says Ian McAlister, general manager at CRS Technologies.
PayCurve integrates seamlessly with any payroll system, ensuring no disruption to business operations, while enabling employees to engage with their salaries from any desktop or mobile device. PayCurve understands that individuals within a workforce are unique and have their own set of financial circumstances. As a result, the PayCurve system takes multiple data points into consideration when providing the service and ensures employee’s salary withdrawals are done responsibly and ethically, and that employees never access more than they can afford. Salary withdrawal payments are also handled by PayCurve and transferred instantly into any South African bank account.
“As an organisation we want to empower South Africans to achieve their financial wellbeing goals. As part of this, we partner with best-in-class companies such as CRS. For us it is about building a sustainable and long-term relationship. One of the key objectives of the PayCurve platform is to deliver a seamless and administrative-free solution for employers and employees alike. This is where the partnership with CRS is important as it helps us to achieve this goal,” says Tamir Sacks, CEO of PayCurve.
The system adheres to all required regulatory compliance as set out by the Protection of Personal Information Act and the Basic Conditions of Employment Act. It takes each employee’s financial commitments into consideration to ensure financial support is provided in a responsible manner. Furthermore, an employee can make as many withdrawals in the period as required, provided they do not exceed the available limit in relation to their salary, which is unique to each one.
“These withdrawals have no impact on the company’s cashflow as PayCurve pays the employee during the month, with the organisation paying them back on payday. PayCurve integrates directly into the internal system and will administer all data transfers and reconciliations. And if the company is not using an open payroll platform, for example running on Excel, there is the option to provide monthly secure file transfers to run PayCurve. Flexibility is really a key point here, making it as easy as possible to facilitate withdrawals when employees need them most,” says McAlister.
Ultimately, employees who feel financially supported are more content and more engaged, leading to an overall improvement in the working environment.