Revolut expands payroll tools to business customers

Revolut is giving companies access to its on-demand pay product, which providers early salary access.

The UK FinTech has partnered with IRIS Software Group (IRIS) to enable the roll out.

Revolut Business customers will give its customers access to IRIS’ Staffology Payroll technology for instant payroll processing.

“With up to 20 per cent of working adults in the UK having less than £100 in savings, many are extremely vulnerable to financial changes or unforeseen costs - which has been exacerbated by the pandemic,” said Emil Urmanshin, product owner and chief executive Office at Revolut. “Salary advance is the logical solution in giving our customers the flexibility they need to reduce debt, manage sudden financial surprises and access money they have already earned without huge interest rates which can quickly spiral out of control.”

Urmanshin added: “We are equally pleased to expand the payroll processing tools we offer to Revolut Business customers with Staffology by IRIS, which enable them to process payroll in ways that meet the changing preferences of today’s workforce.”

Over 1,200 companies that use IRIS Cascade can now choose to enable their employees to use the on-demand pay tool to access part of their earned wages in advance.

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