WagePoint Payment Solution
Employers are seeking a cost-effective solution
for paying out wages to staff in a more efficient,
convenient and secure manner than they currently
utilize.
Generally most wage payouts are done via daily
or weekly payments with security companies delivering
cash to site and management undergoing an extensive
operation to distribute this in volume.
The workers themselves are often concerned as
to their risk of carrying an entire week’s
wage in their pocket until they can deposit
their cash or spend it and later they may waste
time in long queues depositing their money.
We have developed WagePoint, an ATM based wage
payment solution that reduces the risk and administrative
issues associated with cash payment of wages.
The objectives and benefits of the WagePoint
solution are:
- Reduce cash payroll (security) risk for
the corporate and the worker
- Reduce costs of packing envelopes, accounting
and reconciling wages
- Provide un-banked workers with a secure
cash payment/management solution
- Create further payout efficiencies, including
more worker productivity
- Provide more convenience to both employee
and employer
- Keep any cost increments for innovative
technology as low as possible
East African Growers and Delmonte
Kenya Limited, through their banks, are examples
of organizations using WagePoint ATMs to pay wages
to their employees. The management of these WagePoint
ATMs is handled by Paynet.
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