Overview

Flexpay is a Coverflex app feature that allows employees to access the salary they have already earned before the standard payroll date. Through the Coverflex mobile or web app, employees can request one-off transfers or set up scheduled micro-payouts throughout the month, choosing amounts and timing according to their personal needs. Flexpay is part of the broader Coverflex flexible compensation suite and fully integrates with the Coverflex Wallet, allowing employees to manage earnings, benefits, and budgets in a single, intuitive platform. The solution aims to enhance financial wellbeing and flexibility while keeping administration simple for employers.

Features and Capabilities

• Access & Delivery: Employees can request earned wages directly through the Coverflex app and receive funds instantly on their Coverflex card or via bank transfer. This eliminates waiting for the standard payroll cycle and offers immediate liquidity.
• Payment Frequency & Scheduling: Flexpay supports one-off requests as well as multiple scheduled transfers within the month, enabling employees to manage cash flow, cover unexpected expenses, or plan ahead for recurring costs.
• Integration with Wallet: Flexpay operates seamlessly within the Coverflex Wallet ecosystem. Payouts, benefit balances, and other allowances coexist in the same interface, providing employees with a unified view of their compensation.
• Admin Controls: Employers retain control over Flexpay usage, including eligibility rules, payout limits, and approval workflows. This ensures operational risk is managed and payroll reconciliation remains accurate.
• User Experience: The self-service app provides a smooth, transparent experience. Employees can track requests, view balances, and access transaction histories in real time, reducing support inquiries and enhancing satisfaction.
• Compliance & Payroll Coordination: Flexpay is designed to work alongside traditional payroll processes, ensuring all early payments are accounted for and aligned with legal and regulatory requirements.
• Platform Scope: Flexpay is part of a wider suite of Coverflex compensation tools, including Meal, Childcare, Insurance, and Budget management. The platform provides employers with a comprehensive way to manage multiple benefit types and enhance employee engagement.