Overview

Coverflex Wallet is an all-in-one employee compensation platform that centralizes meal allowances, flexible benefits, digital insurance management and discount programs into a single digital Wallet and card. Employers top up budgets and configure benefit rules; employees spend balances via a digital or physical card and manage allocations in the Coverflex app. The product aims to simplify benefits administration, reduce employer costs and give employees flexible monthly control of multiple benefit categories.

Features and Capabilities

• Core Functionality: Coverflex Wallet centralizes meal allowances, benefits balances, insurance management and discounts in one Wallet available via app and card.
• Employee Wallet & Card: Employees get a digital Wallet plus a virtual or physical Visa card to spend on eligible purchases (meals, groceries, take-away, partner discounts).
• Flexible Allocation: Employers set budgets and benefit categories; employees can choose monthly how to allocate available funds across categories.
• Tax & Cost Optimisation: Platform designed to leverage local tax-favored benefit schemes so companies can reduce costs while increasing net employee value.
• Admin Portal & Onboarding: HR/admin portal for setting up plans, importing employees, and configuring rules plus onboarding guides and reporting tools for payroll reconciliation.
• Reporting & Exports: Accounting and payroll reports (accounting, payroll processing, benefits balance) to simplify back-office reconciliation.
• Digital Insurance Management: Integration to add and manage employee insurance policies directly from the Wallet (policy management and family add-ons).
• Discount Network & Offers: Access to partner discount network and merchant offers surfaced in the Wallet.
• Mobile App UX: Real-time balance visibility, transaction history, and card management through the Coverflex mobile app.
• Integrations & Digital Wallets: Support for adding the Coverflex card to Apple/Google Pay where available; APIs and integrations for payroll systems and HR stacks.
• Pricing Model: Per-employee subscription pricing (monthly/annual plans) with options for digital card free or physical card at additional cost.
• Customer Education & Academy: Video tutorials and Academy content (onboarding and product walkthroughs) to help admins and employees adopt the Wallet.