TopSource Worldwide, the leading global payroll and employer of record provider, will make use of Ebury Mass Payment’s technology and capabilities to provide clients with a scalable payroll payment service that can make payments to employees based in over 200 countries across 140 currencies.
The scalable service means that TopSource Worldwide clients, many of which have employees in multiple global locations, will be able to quickly grow their headcounts without having to deal with the practical challenges and cost of setting up a legal entity and payroll function on the ground in every country they are active in.
Ebury, a leading fintech company that simplifies cross-border trade and payments by offering international transactions, FX hedging and account collection solutions for businesses, has developed its own bespoke payments platform, that delivers a host of pre and post transaction functionality including:
• Country specific bank account and payment requirements
• Mass beneficiary data upload
• Pre-payment beneficiary data validation
• Pre-go live Payment (Penny) Tests
• Mass payment multi-currency payment file uploads
• Automated beneficiary payment email notification
• Exportable Transaction reports
Ebury’s platform ensures funds are routed quickly, cheaply and in a way that minimises the risk of deductions for employees. Ebury’s payment hub makes use of Faster Payments, SEPA, ACH and Swift to ensure its secure payments reach the intended beneficiary without any unexpected deductions, while its specialist customer service function is on hand 24/7 to provide assistance and advice.
TopSource Worldwide, which was created in August 2021 following the merger of TopSource Global Solutions and PEO Worldwide, selected Ebury Mass Payments as its global payroll partner following a competitive tender process. TopSource Worldwide currently makes payments to thousands of employees across over a thousand global businesses.
Owain Walters, Managing Director of Ebury Mass Payments, commented: “We are delighted to be partnering with TopSource Worldwide to help high growth businesses scale their international operations. Global employment trends and the proliferation of high growth technology companies have seen this type of ‘last mile’ payments grow in strategic importance for businesses looking to scale up overseas.”
Paul Sleath, CMO of TopSource Worldwide, commented: “This partnership comes at an exciting time for the business as TopSource Worldwide continues to grow as an experienced, trusted payroll and Employer of Record provider.
“Delivering a reliable, high-quality service is of paramount importance to our clients, so Ebury’s combined people and technology offering, coupled with its scale and risk management expertise made them a natural choice for us. Previously, this kind of service was only available to the largest global corporations, but we’re excited to bridge the gap and allow for real change.”