CloudPay and Santander: a partnership to transform the employee pay experience and promote financial wellness in SMEs and companies across Spain

CloudPay and Santander: a partnership to transform the employee pay experience and promote financial wellness in SMEs and companies across Spain

Andover, UK – 10 December 2024 – CloudPay, the global leader in payroll solutions, today announces a new partnership with Banco Santander, one of Spain’s largest banks, redefining the employee pay experience through on-demand pay. By leveraging CloudPay NOW, CloudPay’s digital Pay On-Demand solution, employees of Banco Santander’s SMEs and companies can now access their earned wages anytime, anywhere, providing a crucial boost to financial flexibility and wellness.

By partnering with Banco Santander, CloudPay has helped open the doors of Pay On-Demand to businesses of all sizes across Spain. Santander’s SME customers can now offer a service typically accessible only to larger enterprises.

This initiative addresses a globally growing need for financial wellness solutions by providing employees with real-time access to their earned wages, empowering employees with the financial flexibility that contributes to greater engagement and productivity. 44% of employees states that having access to Pay On-Demand would increase their loyalty to the company, according to a survey carried out by CloudPay . With CloudPay NOW, employees gain the financial flexibility to handle unexpected expenses, promoting both mental and financial well-being and easing the stress associated with traditional monthly pay cycles.

As competition for skilled employees intensifies, offering Pay On-Demand helps organisations position themselves as forward-thinking and employee-centric, enhancing engagement, loyalty, and overall employer brand appeal. Pay On-Demand via CloudPay NOW is a significant differentiator and brand reinforcement for companies, highlighting their forward-looking approach and their focus on their employees’ wellness.

Timo Weber, Chief Strategy Officer at CloudPay, commented: “Our partnership with Banco Santander represents a major step forward in transforming the pay experience and providing employees with flexible, real-time access to their wages. CloudPay’s commitment to empowering individuals with tools that support financial stability and reduce the stress of monthly pay cycles is key. We’re proud to work with Banco Santander to make financial wellness an accessible reality for employees across Spain.”

Alberto Fernández Tomé, Head of New Revenue Streams & Partnerships at Banco Santander, commented: “We’re thrilled to partner with CloudPay to bring CloudPay NOW to employees across Spain, offering them an innovative way to manage their finances with greater flexibility. By providing instant access to earned wages, we’re enhancing the employee experience and supporting financial wellness for our clients’ workforces. This partnership enables us to give businesses of all sizes the tools to attract and retain talent while fostering a positive and financially empowered workplace culture.”

ENDS

About CloudPay
CloudPay is focused on a single purpose: to deliver industry leading solutions spanning payroll, payments and pay-on-demand. We provide truly global payroll, digitized, automated and unified, on one cloud-based platform. With a proud heritage of 25+ years, we serve over 2,000 companies globally in 130+ countries handling $24bn+ of payments in 160 currencies. CloudPay’s high-performance solutions empower payroll teams to pay their global workforce with outstanding accuracy and minimal risk, more efficiently than ever before. We add the industry’s most supportive and knowledgeable payroll experts to create a world-class fully managed service. Together, that’s High-Performance Payroll, from CloudPay.