Benzinga | Feb 18, 2021 07:17AM EST

Visa, ADP Report Partnership To Offer ADP Clients Solution For Off-Cycle Payments To Employees, No Terms Disclosed

As COVID-19 continues to accelerate the shift to digital, more businesses and individuals are now operating in an on-demand world, driven by flexibility, convenience and speed. Digital payments play a critical role in this movement, particularly with regards to work, as employers look for optimized ways to conduct their business and employees look to get paid quickly, conveniently and securely.

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Visa (NYSE:V), the world's leader in digital payments, and ADP (NASDAQ:ADP), a leading global provider of Human Capital Management (HCM) solutions, today announced a partnership that will offer ADP's clients, large and small, with a digitally-enabled, convenient and cost-effective solution for off-cycle payments to employees. By offering this capability, it reduces the need for employers to worry about printing and sending checks to pay workers and employees can forgo the extra step of depositing funds into their accounts.

"Now more than ever, it is critical for workers to have quick and convenient access to their wages and to get money into their hands when they need it," said Bill Sheley, Global Head of Visa Direct, Visa. "Our partnership with ADP is another important milestone in Visa's efforts to help reimagine the way workers get paid, both today and in the future."

ADP's integration of Visa Direct1, Visa's real-time2 push payments platform, gives employers the ability to deliver digital payments directly to their employees via an eligible debit card. By enrolling in ADP's Wisely(r) Now Debit program, employers are providing the ability for employees to receive payments like off-cycle bonuses and reimbursements that occur between payday in a faster, and more convenient way.

"We are proud to expand our relationship with Visa," said Mark Putman, general manager, payments, ADP. "By broadening the push to debit option, we will be able to offer an efficient, cost-effective solution for both employers and their employees."

With ADP helping to power the ongoing payment of millions of workers across the country, this partnership creates significant impact. A majority of surveyed human resource executives report cost as the most important factor when considering new benefits for their organizations' workers, particularly amidst COVID-193. This new solution helps meet the needs of businesses in being a low-cost and easy-to-implement benefit, while also giving employees a faster and more intuitive way to be paid.

The integration will be rolled out across various use cases over the coming months.

Visit Visa Direct to learn more about how Visa helps move money faster.