CloudPay and Visa Partner to Provide Faster Digital Payouts
Leading global employee pay provider CloudPay today announced a new partnership with Visa to reduce payroll payment cycles that typically take 2-3 days through banking systems, down to seconds. The new digital payment method makes salary payments direct to employees’ debit or credit cards using Visa Direct, Visa’s real-time[1] push payment platform. Visa Direct leverages the payment provider’s powerful, global network to facilitate fast digital payments worldwide, with state-of-the-art security and compliance controls.
After completing a customer’s payroll cycle, CloudPay can now make salary payments in seconds rather than days. Pay-to-card transactions are made via Visa Direct to any 16-digit debit or credit card number (PAN). Employees can still receive salary payments as usual in their bank accounts, but the payments arrive faster and more flexibly via Visa Direct’s single point of connection rather than going through disparate systems.
