“Uh-umm, for that, you’ll need to visit our nearest bank branch.”

If you had a dollar for every time you heard that…

It’s no doubt that while businesses and consumers have evolved, banking hasn’t. There is a gap in the system in terms of speed and convenience–the two most indispensable factors driving tech-first user experience. 

For instance, it’s a common practice to visit banks to open a new salary account, grievance redressals, and more. 

Well, not anymore!

We bring you a tailor-made solution for startups that will solve all the above problems and offers much more.

*  Drumrolls, please *

RazorpayX Payroll is now integrated with Jupiter!

Read on to know more.

Banking that keeps pace with you & your employees

As a startup founder or someone managing an organisation’s operations, you know all that goes into managing payroll and disbursing salaries. With RazorpayX Payroll, calculating payroll and disbursing salaries is just a matter of a few clicks.

And with RazorpayX Payroll now integrating with Jupiter, all this has gone a step further!

Besides paying your employees on time with RazorpayX Payroll, you can simply guide your employees to create an instant Jupiter Pro salary account. That will go a long way in enhancing the ease, efficiency and accessibility for employees.

Not just that, banks often have eligibility criteria for the amount of salary credited for individuals to open a salary account. And procedures like employees must be employed with a corporate that has a salary account relationship with banks. Our goal with this integration is to change this and smoothen the process, especially for startups.

Benefits of Jupiter Pro Account

1. Free health insurance policy from ICICI Lombard 

Account holders can benefit from a free health insurance policy from ICICI Lombard of Rs. 2 Lakh base plan or Rs. 20 Lakh super top-up with Rs. 3 Lakh deductible.

2. Earn rewards every month

Individuals can earn 1% rewards up to Rs. 250 on all debit cards and selected UPI spends every month. Your employees can also convert rewards to digital gold or cash instantly. Plus, the rewards never expire!

3. Zero charges on forex

You can benefit from zero Forex fee for spends up to Rs. 1 Lakh per month. 

4. Zero balance account

There is no requirement for account holders to maintain a minimum balance. Also, there are zero hidden fees and zero maintenance charges.

Besides these, account holders can avail of the on-demand salary option through which they can make any day their payday.

Say hello to on-demand salary

As the name suggests, through on-demand pay, startup founders can allow their employees to access their salary on demand. This implies the employees can receive their full or partial salary on any day, rather than waiting for the standard payday.

Benefits of on-demand pay

  •  Help in emergencies

On-demand salary is extremely helpful for employees in a financially stressful situation by allowing them to meet their urgent requirements.

  • Acts as a differentiator for employee retention and employer branding

Since all employers do not provide the benefit of immediate pay access, it can act as a vital differentiator while recruiting & retaining employees. And this is especially applicable for a new employee who needs to wait for a month for that first paycheck. This feature also acts as a crucial differentiator regarding employee retention for startups.

What does Jupiter offer? 

  • Instant disbursal: Account holders can benefit from instant disbursal – it’s as simple as ‘apply now, get it now.’
  • Whenever you need it: No need to worry about mid-month cash crunches, and opt for this option whenever necessary.
  • Totally interest-free: Individuals need not pay any interest on the early withdrawal of their salary.

To sum it up

With RazorpayX Payroll and Jupiter integration, you get:

  • On-demand salary
  • Easy money tracking for employees
  • Better personal finance management
  • Lifetime Free Debit Card, delivered for free at door
  • Free health insurance

So what are you waiting for? Sign in to your RazorpayX Payroll account, or if you’re new, sign up today on RazorpayX Payroll to get all the benefits of this integration.

 

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    Alish Gill
    Author Alish Gill

    Alish is a writer at RazorpayX. Zoophilist. Coffee Addict. And now a FinTech enthusiast. When not writing, you'll find her taking a long walk (or run) with her dog or Netflixing.

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    Disclaimer: Banking Services and Razorpay powered Current Account is provided by Scheduled Banks