Nowadays, it is vital for a company to be adaptable when it comes to payment processing, particularly when it comes to paying staff.
What is Instant Money?
Employers can make use of the Standard Bank Instant Money Bulk Payments platform to compensate your employees immediately from their company account who have an active South African mobile phone.
You will be able to send money to those who do not have a bank account. For each cell phone number, you can pay up to R5 000 per day and R25 000 per month.
Standard Bank is thrilled to announce the debut of a new cash-back option as part of their Instant Money Bulk Payments product that will operate for three consecutive months.
The initiative seeks to improve our service to business owners and make financial management easier for them.
Entrepreneurs who sign up beginning June 1, 2021 and complete 50 or more transactions by August 31, 2021 will be eligible for a one-time payout of $50 in transaction fees back into their bank accounts. This comes to R497.50.
Instant Money Bulk Payments is excited about digital innovation and the benefits it delivers.
Instant Money Benefits
Instant Money Bulk Payments enables clients to make several payments to various recipients at the same time, as well as to enable future-dated payments to execute automatically, removing the need for clients to be physically present at their workstations or on the system in real time.
In essence, Instant Money Bulk Payments are a secure and convenient method of paying your recipients.
Instant Money Bulk Payments differentiates itself from other market options by allowing business owners to pay their employees, suppliers, and customers all at once, with the added benefit of a cash-back option.
Standard Bank conducted extensive research, including in-depth talks with business owners, to better understand the difficulties that entrepreneurs face and how Standard Bank can assist them.
The upshot of this strategy is Instant Money Bulk Payments, a unique concept that blends ease and simplicity through a product aimed at providing a terrific client experience, which is the key to success and long-term client satisfaction.
Instant Money Bulk Payments is a solution for entrepreneurs that don’t want to be bound by traditional banking’s antiquated, monolithic processes.
Instead, the emphasis is on creating banking systems that are lean, agile, and responsive.
Business owners have specific needs, and they require a banking partner that can assist them in navigating the challenges of running a business.