The collaboration between Paysend and Ontop allows customers and employers to make instant salary payments directly to the local bank cards of remote workers and contractors worldwide
The collaboration will leverage Ontop’s new payout-to-cards capability. It enables remote employee and contractor payroll payments through the dedicated platform. The money is sent directly to the receivers’ local Mastercard or Visa cards instantly, at a low cost.
The partnership brings tangible benefits to employees worldwide, as they can use Ontop’s platform for scaling internationally while providing employer-of-record services (EoR), payroll solutions, and compliance to their users.
In order for contractors and employees to leverage Paysend’s platform and suite of services, all they need to provide is their full name and bank card number. Upon the instant salary transfer, they can directly access their funds via Mastercard and Visa Rails.
Ontop is a fresh startup founded amidst the pandemic by three Colombian entrepreneurs. It addresses the pinpoint that became more acute with a surge in remote work models – cross-border payments and cross-border contracts. Its proprietary automated platform helps enterprises streamline their international hiring and payment processes by managing contracts, documents, taxes, regulatory compliance and payments in a single place.
British fintech Paysend which enables money transfers in over 170 countries has hit a number of new partnerships this year to expand the scope of its services. Thus, Paysend partnered JMMB Money Transfer for Jamaica remittances in January, joined forces with Purpl for Lebanon money transfers and launched On-Demand Payroll services in partnership with the payroll platform Transformify in February.