PaidHR Launches New Cross-Border Payroll Feature, Expands HR Tech Offerings
PaidHR, a leading African HR technology platform, has introduced a new cross-border payroll feature that allows employees to receive salaries in 49 different currencies.
This significant development aligns with the company’s strategic expansion and aims to cater to the growing needs of businesses with global workforces.
The new feature will be key for remote workers who receive salaries globally and a hedge against macroeconomic headwinds like currency devaluation.
Key Features of the Cross-Border Payroll Feature:
* Global Currency Support: Employees can receive salaries in their preferred currency, regardless of their location.
* Convenient Wallet: The solution includes a built-in wallet that enables employees to convert their pay and spend it directly.
PaidHR CEO Seye Bandele commented on the launch of the product saying,
“We are committed to building HR management solutions that address the specific needs of the African market. The cross-border payroll feature is a direct response to the requests of our users, and we believe it will be a valuable addition to our comprehensive suite of offerings.”
PaidHR has disbursed over N30 billion in salaries for over 100 businesses since its founding in 2021. In 2023, the HR startup paid ₦11.473 billion in salaries. With only two months left in 2024, PaidHR has nearly doubled the number, doing ₦20 billion in salaries processed.
Turning on the cross-border function could heighten the value of salaries processed in 2024 and push the startup closer to profitability.
The company’s existing products cover onboarding, HRIS, payroll, compliance, performance management, asset management, disciplinary actions, and exit processes.
As PaidHR continues to expand its offerings and reach, it remains dedicated to empowering African businesses and improving the lives of employees across the continent.
