Santander partners with CloudPay to transform employee pay in Spain

SME Banking
17/12/2024 News

Banco Santander has joined forces with CloudPay to bring a transformative solution to businesses of all sizes in Spain. By introducing CloudPay NOW, a Pay On-Demand service, Santander is offering small and medium-sized enterprises (SMEs) the ability to provide employees with real-time access to their earned wages. This innovative partnership breaks down barriers, making a service typically available to large corporations accessible to SMEs, ultimately improving financial flexibility and employee well-being.

Digital Reinvention
28/11/2024 Article

Financial Innovation Spotlight: November 2024 edition

Fostering employee loyalty and engagement

As part of its commitment to financial wellness, Santander is helping businesses enhance employee engagement by offering on-demand pay solutions. Providing employees with immediate access to wages promotes mental and financial well-being by reducing the stress of traditional monthly pay cycles. According to a CloudPay survey, 44% of employees stated that having access to Pay On-Demand would increase their loyalty to their company. Through this partnership, Santander is addressing the growing global demand for financial wellness solutions, positioning itself as a leader in fostering positive workplace cultures.

Strengthening Santander’s competitive edge

In a competitive job market, offering Pay On-Demand can give businesses a significant advantage. By partnering with CloudPay, Santander is empowering its SME clients with the tools they need to attract and retain top talent. This service not only supports employees but also enhances a company’s employer brand. Alberto Fernández Tomé, Head of New Revenue Streams & Partnerships at Banco Santander, shared: “CloudPay NOW offers businesses of all sizes an innovative way to manage employee pay, creating a positive, financially empowered workplace culture.”

Santander’s collaboration with CloudPay is paving the way for financial wellness in workplaces across Spain, providing employees with greater flexibility and positioning businesses as forward-thinking employers.

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