CodeLn Launches CodeLnPay for Cross-Border Salary Payment to Africa
In today’s interconnected world, businesses are increasingly aiming for a global scale. As companies expand their operations across borders, paying salaries to employees in different countries can become complex. This is particularly true regarding paying remote employees based in Africa. Companies face challenges around restrictions, compliance, currency conversion complexities, fluctuating exchange rates, and the high cost of remittances.
African-based remote employees are also experiencing challenges around salary delays, deduction on earnings, and county work restrictions. According to a 2021 report by Google, 38% of African Software Engineers work for at least one company based outside of the continent. These are some of the challenges cited by remote employees/freelancers working across country with employers in Africa or across the continent with employers overseas.
Our CEO, Elohor Thomas announced the launch of CodeLn Pay on stage at the recently concluded Collision Conference in Canada. This new product was built to mitigate the challenges and friction experienced by both employers and employees/freelancers. CodeLn Pay streamlines the salary payment process, making it efficient, secure, and hassle-free.
At the time of this launch, CodeLnPay is available for employers based in Canada, the United States, the United Kingdom, and Europe to process salary payments seamlessly and compliantly to their remote employees/contractors in Africa. And employees based anywhere in Africa can invoice their employers abroad and receive payments from any of the specified regions.
Benefits of CodeLn Pay for Employers
- Multi-Currency Payout: without bothering about currency conversion rates, you can send salaries in USD, Euro, or GBP while the receiver chooses if they want to collect it in the same currency or their local currency.
- Payroll Scheduling: you can easily schedule salary disbursements based on your preferred frequency (monthly, biweekly, or customized) in order to ensure timely and consistent payments.
- Transparent Pricing: there are no hidden charges, our charges are fixed based on the amount per transaction. This transparency helps you minimize associated costs and complexities.
- Multi-Payment Option: we support multiple payment options, you can choose to pay using any of your preferred payment options or partner.
Benefits of CodeLn Pay for Employees/Freelancers
- Invoice Employers: Whether you need an invoice for a one-time payment or recurring payment, we have got you covered. Seamlessly generate and share invoices on CodeLn Pay to help you track your earnings.
- Multi-Currency Payout: you can choose to receive your salary in USD, Euro, GBP, or any local African currency.
- Fast Disbursements: salary drops on your payday, no more long wait times. You receive your earnings without delays according to the timelines communicated.
- Cost-effective Rate: receive your complete salary without unnecessary deductions. CodeLn Pay offers you price transparency and affordable rates.
Sign up on CodeLnPay today for a seamless payment experience.
You can find a short demo of the product here, reach us via chat or email (INFO@CODELN.COM) if you have questions.
We are still committed to supporting the growth of innovative companies by providing them with a simple platform to find, test, hire and pay top-quality talent from the African continent.
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