A flexible zero interest wage application for the modern workforce, fastPAYE has confirmed its official launch.
The app provides a salary drawdown service that enables gaming businesses to pay staff what they’ve earned early.
Ian Hogg, chairman of fastPAYE, said: “Through years of experience working with major gaming industry brands as clients of ShopWorks, we understand the pressures caused by the outdated monthly wage system on the sector and how it needs to change.
“Attracting investment from industry stalwarts such as Mark Blandford (founder of SportingBet), Brian Mattingley (888 Holding’s chairman) and Alan Byrne (Racing Post’s chief executive and chief editor) is testament to the value fastPAYE brings to casino and betting businesses and their staff, providing a system that is easy to adopt for all parties and that boosts employee retention.
“We’re letting people access what they’re owed, while at the same time providing employers with a wage management tool that is fast and easy to integrate, and that makes their business a more attractive place to work.”
Backed by staff scheduling solution ShopWorks, which supplies Grosvenor Casinos, Mecca, Betfred and Paddy Power, fastPAYE provides a transparent wage management system that significantly improves employee satisfaction and loyalty.
Unlike other providers on the fast-growing “wage-on-demand” market, employers don’t need credit to pay staff early. fastPAYE’s unique model enables businesses to offer drawdowns before payday based on hours worked via a dedicated safeguard account with Starling Bank, facilitating instant fund transfers and maximum cashflow management with no impact on existing payroll.
fastPAYE research shows that 78% of employees struggle to make funds stretch over the month, particularly in January when those paid before Christmas experience the longest pay gap of the year. When unexpected living expenses arise, in 2018, 10 million payday loans were taken in the UK.
fastPAYE is designed to give staff greater control over their salaries with its cost efficient and flexible model. With sister company ShopWorks, which has a proven expertise in creating effective workplace technologies utilised by over 150,000 users, fastPAYE is uniquely positioned to make strides in the industry.