Manchester based staff tech group, Orka has today announced the launch of their next innovative product, Orka Pay. Orka Pay allows hourly paid workers to withdraw a percentage of their wages as soon as they’ve worked a shift, so there’s no more waiting until payday or taking out high-interest loans. The platform is app based, allowing workers to choose how much they want to withdraw from their available balance, facilitated by full integration with their employers’ payroll systems. This follows two years of successfully providing the feature to their community of 40,000+ users through sister product, Broadstone.
Tom Pickersgill, Orka Technology Group CEO, says: “We’re really excited to be able to introduce another product to our stack which contributes to our mission of solving challenges for hourly paid workers. We have learnt a lot about what the hourly paid workforce wants over the past three years. Why should workers have to wait until payday? We know people’s budgeting habits are different, and this is where Orka Pay provides complete control and transparency. Orka Pay not only provides workers access to a fantastic benefit, but allows our partner organisations to differentiate themselves from the competition, improving their employee satisfaction and retention rates.”
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Modulr, the payments as a service API platform, which provides a secure and flexible payments infrastructure, already powers Orka’s staffing platform, Broadstone. This latest move sees Orka Pay become a registered EMD agent of Modulr, meaning Orka Pay can act on behalf of Modulr (who is authorised by the FCA as an e-money institution). Enabled by Modulr’s powerful payments engine, a wide range of innovative businesses like Orka, Revolut, Liberis, and Iwoca are able to bring future solutions to their customers today.
Myles Stephenson, CEO and founder of Modulr, says: “We are proud to support fellow innovators who are restless in their mission to bring better financial services to end customers. Powered by Modulr, Orka Pay not only seeks to eliminate the hidden costs of process inefficiencies inherent in the employment services sector, they are also making payments work for their end customers, in a way payments never have before.”