CloudPay and Banco Santander have joined forces to introduce on-demand pay solutions in Spain, offering employees greater financial flexibility and supporting businesses in enhancing workplace financial wellness.
CloudPay, the global payroll solutions provider, has joined forces with Banco Santander in a partnership set to transform how employees access their wages in Spain. The collaboration introduces CloudPay NOW, an on-demand pay solution that enables workers to access their earned income in real time, marking a significant shift in financial wellness offerings for employees of SMEs and corporates alike.
This initiative addresses a growing appetite for flexible financial solutions among Spain’s workforce. Traditionally the domain of large enterprises, on-demand pay is now being made available to businesses of all sizes through Santander’s network. By offering employees greater control over their finances, the service aims to alleviate the pressures associated with monthly pay cycles, enhancing both financial security and workplace productivity.
According to research conducted by CloudPay, 44% of employees say that access to on-demand pay would strengthen their loyalty to their employer. The company argues that such tools not only mitigate financial stress but also contribute to mental well-being, factors that have taken on heightened importance in today’s competitive labour market.
This partnership also seeks to help employers sharpen their edge in attracting and retaining talent. With organisations vying for skilled workers, the ability to offer real-time access to earnings positions businesses as forward-thinking and employee-centred.
Timo Weber, Chief Strategy Officer at CloudPay, characterised the move as a key milestone in payroll innovation.
“Our partnership with Banco Santander represents a major step forward in transforming the pay experience and providing employees with flexible, real-time access to their wages. CloudPay’s commitment to empowering individuals with tools that support financial stability and reduce the stress of monthly pay cycles is key. We’re proud to work with Banco Santander to make financial wellness an accessible reality for employees across Spain,” said Weber.
Alberto Fernández Tomé, Head of New Revenue Streams & Partnerships at Banco Santander, commented on the partnership: “We’re thrilled to partner with CloudPay to bring CloudPay NOW to employees across Spain, offering them an innovative way to manage their finances with greater flexibility. By providing instant access to earned wages, we’re enhancing the employee experience and supporting financial wellness for our clients’ workforces. This partnership enables us to give businesses of all sizes the tools to attract and retain talent while fostering a positive and financially empowered workplace culture.”
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