By Kyle Hibbert, Software Developer, MC Systems
Welcome to a new day in Payroll Technology in Jamaica.
After today you will re-think what your payroll tech can do for your organisation and your people.
BizPay Cash from MC Systems will cause that to happen.
You have heard of “Payday loans.” Our technology has created the first Payroll Loan solution… and best of all we made an app for that.
The latest technologies in payroll, now and the foreseeable future, are a combination of Robotic Process Automation, Analytics and Mobility.
BizPay Cash is the embodiment of that.
BizPay Cash is a platform that integrates with the BizPay payroll solution to approve loans and issue funds.
This service has an automated process built-in, we pullthe data from the payroll system, the analytics, together with the credentials that the company will set to govern the loan amount and we deliver it through a mobile app.
This is what employee happiness looks like!
Where else can you apply for a loan through an app and get instant approval…..nowhere else as this is the first such solution on the market. BizPay Cash can do that.
With BizPay Cash the submission of documents and the long wait for approval have been replaced by instant approval.
So loans can be accessed through an app.
People are dealing with a lot in their lives and that sometimes result in the need to get hold off some cash, quickly. With BizPay Cash they can do that in near-real-time.
The ability to approve and issue funds quickly is a challenge faced by employers. Even those who offer loan facilities have to deal with the costs associated with administering these services to employees.
But now there is BizPay Cash to solve all that.
Let’s break it down step by step.
How can staff get it?
Once you sign-up for the service your employees are able to get BizPay Cash by:
Step one: downloading the app from Google Play Store
- register using his/her TRN, company code [this is the company code issued by MC System] and his/her phone number.
- The application then creates a profile for that employee using the information from the payroll. [That would be his/her name, email, etc.].
- The employee will get a welcome email with instructions to set a password.
- Where the employee then logs in and applies for a loan right away. No need for additional documents; no evaluation period.
- The employee can choose the loan amount and the period of repayment when making the request.
- The system will automatically check the payment history, compare it with the rules/requirement and approve the request.
- The applicant will receive an email and a phone notification of the approval.
- On approval the funds are transferred to the person’s account and the repayment is programmed. Nothing else needs to be done!
Repayments are automatically taken out of the employees pay and reflected on theirpayslip.
Employee Karen, who needed an emergency loan to take care of her family,can have her issues solved in minutes.
With BizPay Cash your employees will benefit from:
- 24/7 accessibility….apply anytime, anywhere
- No delays….instant approval
- Real time feedback
- Convenience of viewing transaction history as well as loan balances
MC Systems is creating cool tech for people!
BizPay Cash is payroll tech done right!