CloudPay: Salary on Demand

What is the pay on-demand service offered by CloudPay¹?

Pay on-demand allows you to offer your employees a service to access their generated wages whenever they want. This way, your employees will be able to access their already generated salary at any time, without having to wait until the end of the month and without additional costs for them.

From the CloudPay app, your employees will be able to access a 100% digital service to check their available withdrawable balance and how it changes throughout the month, as well as decide the withdrawal method.

Salary on demand is a low-cost, high-value service for your employees. This will improve your employer brand and talent retention. Also, it does not involve additional work for the payroll team. Instead, it reduces their work by automating part of the process and eliminating late calculations and salary advances.

What are the benefits of using the pay on-demand service?

Pay on-demand has benefits for both your company and your employees.

• What are the benefits of the pay on-demand service for your company?
  

• • Talent retention and reduced absenteeism: you will increase your ability to attract and retain talent thanks to the benefits you offer your employees in terms of reduced financial stress.
  • Automation and simplification of payroll processes: it incorporates an automated service to eliminate late calculations and payroll advances, without impacting deductions or benefits.
  • Enhance your employer reputation: Differentiate your employer brand with a high-value, low-cost per employee global benefit.
  • 100% digital and simple platform: Intuitive and easy to use for simpler and more efficient management, reducing administrative burden.

• What are the benefits of pay on-demand for your employees?
  

• • Flexible, "on demand": without the need for requests, your employees will be able to access their earned wages whenever and wherever they want, based on the rules you set.
  • Automation and simplification of the payroll process: incorporates an automated service to eliminate late calculations and payroll advances, without impacting deductions or benefits.
  • Wellbeing and quality of life: help to reduce their financial stress and deal with unforeseen events and unexpected expenses.
  • Aligning outgoings and incomings calendars: adjust their monthly outgoings calendar to the regular expenditure needs they might have (mortgage, vehicles, electricity, gas, etc.).
  • Instant reward: Your employees can access overtime earnings on the same day or the next day.

How can I sign up for the pay on-demand service?

Useful information

1. The service is provided exclusively and independently by CloudPay Treasury Services Limited with Tax Identification Number 806640146 and registered office at Kingsgate House, First Floor, Newbury Road, Andover. If you are interested in accessing the service, you must sign the corresponding contract with CloudPay, which will allow you to access a platform to offer your employees the possibility of making on-demand payment requests, with the requirements and conditions established at any time by CloudPay. CloudPay will be the data controller for the Service's execution and will inform you about the processing of your data in accordance with its data protection policy.

Banco Santander, S.A. is not affiliated with the platform and the Service provided by CloudPay and therefore the Bank shall not be liable under any circumstances for the conditions or quality of the service contracted with CloudPay, nor for the operation of the platform. Banco Santander shall not be held responsible for any matters derived from its relationship with CloudPay or for matter regarding employees' use of the platform. Banco Santander, S.A. does not provide financial, tax or any other type of advisory service at any time, nor does it intervene in your relationship with CloudPay.