FAQs
About Paynest
Paynest is the all-in-one solution for innovative leaders focused on cost-efficiency and employee engagement. The platform has enabled dozens of companies, representing tens of thousands of workers, to have a positive impact on their lives. Paynest's offering includes simplified expense management, early access to salary and bonuses, individual and confidential contact with a financial coach, and access to financial literacy tools.
The Paynest platform and products are designed to adapt to the needs of any business. Choose the products that fit your operation, customize them to the specifics of your structure, and pay only for what you really need.
Paynest's mission is to empower company leaders to focus on what matters most - their business. The platform is modular and each company can choose to implement only the products that best suit their needs.
Paynest is a Software as a Service platform, so it has no legal limitations and can be implemented easily across the EU.
Using Paynest
The process of implementing Paynest in your organization is quite simple. After selecting the products that fit your business needs, you just need to create a wallet, where you will deposit the necessary amount to cover employee requests, configure permissions and salary reconciliation parameters on the platform according to your preferences, and leave the management of the respective products to us.
Paynest is a technological platform, it does not make loans. Paynest is genuinely committed to improving the financial well-being of your company's employees, acting with transparency and clarity and therefore does not intervene in the money flow.
The working capital required to have available in your wallet depends on the size of the company. Our team will recommend the minimum amount and can adjust it dynamically.
Paynest allows customization of salary reconciliation sheets according to your company's criteria. When your team starts processing salaries, employees will no longer have access to the salary, and you can export the file that will easily integrate with any payroll processing software you use.
Our goal is to fully automate and simplify all operations associated with the subscribed product. Your HR department will have total control and visibility over the state of the wallet and the activity of your employees through the Paynest platform, and can easily access the salary reconciliation file on the date set by your team, with just one click. Additionally, by providing the app to the employee, you are avoiding your HR team spending hours managing requests and processing expenses.
Paynest offers multiple solutions for the daily challenges of management teams. Each company has the flexibility to choose the products it needs and will only pay for those it subscribes to.
Security and Privacy
By implementing Paynest in your company, a wallet will be created in Modulr, a payment platform that ensures the security and coverage of your funds. Throughout the Paynest subscription period, you can have control and manage the deposited amount. Modulr is authorized and regulated by the Financial Conduct Authority (FCA) in the United Kingdom, licensed to operate in the European Union, and subject to rigorous regulatory requirements in terms of risk management and customer fund protection.
Paynest ensures compliance with GDPR through various measures. Firstly, we are transparent and clear about data collection and its purpose, and we maintain confidentiality by restricting access and assuming solid responsibility for data protection. We collect only the necessary information for platform operation, use data in the client's best interest, and verify data security through regular updates and preventive checks. We also comply with storage limitations, keeping only necessary data on secure AWS servers in the EU.
