workPAY brings payroll into real-time on the blockchain. It gives employers instant access to their earnings as soon as their work is complete, instead of weeks later. And for employees, it enables automated, real-time cryptocurrency payroll that removes the reliance on banks and payroll processors.
workPAY makes real-time, on-demand payroll possible by using verified work records on the blockchain through integrations with common HR and workforce management systems. These records can be linked to a shift, hours or task and automatically trigger once the work is complete, releasing earnings immediately.
Here’s an example of workPAY in action:
Scenario 1 — Traditional Payroll
Employees come to work and clock-in, complete their work and clock-out. Then, after they clock-out, managers verify the work that’s been undertaken. This happens every day, until the timesheet or attendence data is used for payroll at the end of the month or every two weeks at best, leaving workers with no money in their pocket until then.
Scenario 2 — The Future of Payroll
Now, with workPAY, an employee’s timesheet or attendance is recorded directly onto the blockchain as a work records -- proof the work’s been done. Then, instead of waiting two-to-four weeks for payroll to be processed, the employee gets paid their earnings instantly via the blockchain.
The Potential to Change the Way Any Employee Gets Paid
Hourly Workers (Wage)
Real-time payroll for a segment whose work is already separated into smaller units (hours).
On-demand and Gig Economy
Instant payments as soon as a job or task is complete.
Changing the traditional working world pays salaried employees by dividing work into smaller units (e.g. hours, days, tasks) that are remunerated with real-time payroll.
The variable settings of workPAY also provide flexibility to employers and employees when it comes to choosing the currency compensation is paid and received in, the frequency with which the payments are made, as well as the choice to distribute payments across multiple accounts.
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