Seeking to develop a new mobile and web prepaid payout system, Philippine tech startup Salarium Limited has entered into a strategic alliance with Pyx Payments Corp Ltd (PyxPay), a Bahamas-based payments solutions provider.
Both companies are planning to launch a new web and prepaid platform called “Salplay” in the second quarter of this year. The platform will be available in the mobile application marketplace. It is an integration of Salarium’s payroll system also called Salarium and PyxPay’s core mobile, web and prepaid platform.
Salpay will also serve as an enhancement to existing Salarium clients. Salarium provides cloud-based Software as a Service (SaaS) enterprise solution to small and large businesses.
Although headquartered in Hong Kong, Salarium’s base of operations is in the Philippines that predominantly services business process outsourcing (BPO) industries. In fact, it also has a regional headquarters in the country.
Salarium CEO Judah Hirsch said that PyxPay’s core platform will open opportunities for the inclusion of other value added services that they currently have like direct bills payment, mobile top-up and fund transfers.
“Salpay’s core system’s framework is capable of monetising payroll data in the future through its readily available linkage with banks, financial institutions, private entities, and other third party service suppliers,” Hirsch said. “With compliance to regulatory, security and financial standards, Salpay can be offered to businesses as a full-fledged payout system.”
For PyxPay’s part, it is banking on its established mobile and prepaid payout services for businesses dealing with offshore workers.
“Financial transactions from an employee’s actual payroll run can be made directly via the mobile wallet that is linked to a payroll prepaid card. This revolutionises payout, as the employee can perform numerous secure cashless transactions through mobile phone,” said PyxPay CEO Maner Puyawan.
Only last February 5, Salarium bagged the $500,000 grand prize of the Seedstars World (SSW) global competition for start-ups in Geneva, Switzerland. The prize serves as an equity investment for its projects in the Philippines. Salarium bested nine other finalists from countries such as Thailand, Peru and Argentina.