Ceridian launches on-demand pay solution in Canada

Ceridian has announced the launch of Canada's DeForce Wallet, a salary solution that gives employees access to their earned wages at no charge to the employer or employee.

DeForce Wallet is an extension of Ceridian's flagship cloud human capital management platform DeForce, which continuously calculates accrued salary of employees and deducts taxes. Each on-demand payment request is processed as a compliant payroll with appropriate payment slips and tax remittances. DeForce Wallet combines a digital wallet with the DeForce Prepaid MasterCard to facilitate on-demand payment access for employees.

“For employers using DeForce Payroll, the payment solution comes bundled, free of charge. For the employee, there is no monthly fee, no monthly minimum, to pay early or use an in-network ATM. There is no fee to transfer funds to other financial institutions, and there are no fees for transferring funds to other financial institutions. Seth Ross, Ceridian's general manager of dForce Wallet and Consumer Services, told IT World Canada, "For out of network ATMs or requesting replacement cards "The model offered with DeForce Wallet allows Ceridian to generate revenue using the DeForce Prepaid MasterCard via merchant interchange."

The launch comes on the heels of a new online survey of 3,014 randomly selected Canadian adults (1,633 of whom are employed) by Toronto-based data services firm Maru/Blue on behalf of Ceridian, which found a third . Canadians working. Income level – which includes earning more than $100K – from money between pay periods. It highlighted the need to provide employees with early access to their earned wages. Forty-three percent of respondents said they are either highly or somewhat likely to consider an employer that provides access to on-demand earned wages over an employer that does not.

“For too long, we have been paying dues to employees, using outdated payroll technology that has not evolved with the modern workforce. This long-standing precedent keeps employees on their back foot financially, and in today's environment, leads many Canadians to rely on higher-interest lending options between pay periods. Ross said. “With DeForce Wallet, employers are changing payroll for the better by providing a new employee pay experience that supports financial wellness and pays their people at real-life speeds. We bring employee payroll to our customers , turn it into a strategic advantage."

Following its availability in the US and Canada, Ceridian plans to launch the dForce wallet in the UK and Australia. According to Ross, over time, the global human capital management software company expects DeForce Wallet to be an important part of its model in most of its countries.