Frog Capital portfolio company Modulr have recently announced that they will be supporting fintech start-up Level. Level is challenging the salary status quo by moving the industry towards a future where ‘any day can be pay day’. This will be done by enabling workers to instantly access their budget from their earned wages rather than having to wait till the end of the month for payday.
With Modulr’s flexible payment architecture combined with Level’s badge advance proposition, it will allow Level to manage payments and transactions securely, all via a single integration.
How it works
If an employee requests an advance payment in the Level App, the Modulr platform transfers a percentage of the earned wages from Level’s Modulr account to the employer’s advance account, which then goes straight to the employee’s account, within seconds.
When speaking about Modulr’s software capabilities, Paul Jackson, Co-founder & Chief Product and Technology Officer (CPTO) at Level stated, “We’ve had feedback that users can’t believe how quickly the money hits their account when they request an advance from Level, it’s pretty much instantaneous. And that’s all down to Modulr’s direct access to the Faster Payments system. I think it’s a really powerful thing.”
Looking ahead, Level hopes to cement its position within the FinTech market and fulfil its European ambitions with the help of Modulr’s powerful capabilities.
To read more about this powerful collaboration, click here.