Modulr expands Xero integration with payroll services to tackle industry challenges

London, 2^nd September: Modulr, the embedded payments platform, today announces the addition of payroll services to its integration with Xero, the online accounting software provider. The integration will help businesses reduce payroll payment errors and admin overhead, ensuring employees get paid accurately and on time, every time.

Despite advances in technology and the negative impact of payroll going wrong, teams are still left using outdated and inadequate solutions. According to Global Payroll Association (GPA) research, nearly half (47%) of all UK employees have been affected by payroll errors. A further 13% were forced to wait until their next pay cheque for payroll errors to be rectified - causing avoidable emotional distress for employees and payroll professionals.

To address this and build on its comprehensive offering for payroll professionals, accountants and businesses, Modulr has extended its Xero integration to now offer automated single or batch payroll payments. Customers can reduce errors and cut payroll processing times by up to 80%, approve payments on the go with the mobile app, as well as consolidate multiple payments to a single payee and realise savings on transaction fees.

With the integration, Xero payroll users can benefit from Modulr’s direct access to the UK’s real-time payments network, Faster Payments, with payroll payments clearing within 90 seconds, including weekends and bank holidays. This gives busy payroll professionals more time and flexibility to complete payroll processes.

Kerry Wale, Senior Client Manager at Women Who Count, who specialise in bookkeeping, payroll and accountancy, comments; “Thanks to the Modulr and Xero integration, we can efficiently set up payments in advance or immediately for payroll without needing access to clients’ online banking. And with real-time payments, we no longer worry about the inflexible three working day lead time of traditional Bacs payments. Overall, this new integration allows us to deliver an end-to-end payroll process, with smooth onboarding and excellent support from the Modulr team.”

Steve Bradford, Managing Director of Channel and Strategic Partnerships at Modulr, comments; “When it comes to payroll, its people’s livelihoods and the business’ reputation that are at stake. Payroll bureaus, accountants and businesses have enough to deal with without having to worry about unnecessary errors due to outdated systems.”

“This latest addition to our integration with Xero is another step in expanding our eco-system and broadening the options payroll professionals have in optimising their processes. And through our industry-first mobile app, payroll and business leaders can benefit from smart, fast and secure approvals on the go.”

Modulr is the payments partner of choice for leading accounting and payroll software providers including Xero, Sage, IRIS and BrightPay, and is already trusted by thousands of accountants, payroll bureaus and businesses to streamline payroll and invoice payment processes.

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At Modulr, our vision is a world where all businesses are powered by embedded payments.

Modulr enables thousands of businesses, from SMEs to enterprise, across the UK and Europe to efficiently pay-in, collect and disburse funds instantly via a range of payment methods, accounts, and card products.

We’ve created an industry-leading platform with comprehensive online tools and API access, to meet the demands of daily business payments. We are connected to an expanding network of accounting and payroll platforms, including Sage, Xero, BrightPay and IRIS. Our payments expertise and extensive product capability also enables us to build tailored solutions to solve complex payment problems for hundreds of clients in a range of industries, including Travel, Merchant Payments, Lending, Wage Advance and Investment & Wealth.

We are deeply integrated into the payment eco-system. In the UK, we are direct participants of Faster Payments and Bacs, and hold settlement accounts at the Bank of England. Our payment network connectivity includes CHAPS, Open Banking, SEPA, SWIFT and account issuance in a range of currencies. We are principal issuing members of Visa and Mastercard across the UK and Europe.

Our regulatory permissions and governance structure underpin our business. We are regulated as an Authorised Electronic Money Institution (AEMI) in the UK by the Financial Conduct Authority and in the Netherlands by De Nederlandsche Bank.