Payroll Growth Partners (PGP) has launched WageLink, a payroll app designed to help employees access and manage their wages.
The app includes features such as pay cards, mobile payments, budgeting tools and early pay access, according to a Tuesday (Oct. 17) press release.
As the flagship product of PGP’s super app, WageLink integrates traditional payroll systems and pay tech with on-chain payments infrastructure, per the release.
“WageLink is built directly into the payroll system itself, eliminating the need for third-party tools or add-ons and is integrated with the pay card through Visa,” PGP Technology Partner Aniruddha Dasgupta said in the release.
WageLink benefits both employees and employers, the company said in the release.
For employees, the app provides early wage access, mobile payment options and budgeting tools to help them to manage their finances more effectively.
Through a partnership with Circle, WageLink offers features like real-time payroll and the ability for employees to receive part of their paycheck in USDC and send earnings across borders in near-real time.
This approach to payroll management is especially appealing to millennials, according to a PYMNTS Intelligence money mobility study that found 75% of millennials said instant payroll would influence their acceptance of a job offer.
The PYMNTS “Money Mobility Tracker,” a collaboration with Ingo Money, also found that 96% of corporate firms that offer earned wage access say the feature helps them attract new talent in a competitive workforce environment.
Likewise, PGP said in the release that WageLink holds benefits for employers. “WageLink gives our clients a competitive edge in talent acquisition and retention, providing innovative tools for personal finance management to employees,” said Tony Chiviles, founder of PayBridge, the first company in PGP’s portfolio to introduce WageLink to its clients and workforce.
Simon Babakhani, Founder of PGP, said the firm is committed to leveraging technology to help companies grow. “WageLink optimizes payroll processing and HR management, meeting the expectations of tech-savvy employees who seek modern, convenient wage access,” Babakhani said in the release.