NiYO Introduces Payroll Solutions for Small and Medium Business Industries

NiYO Introduces Payroll Solutions for Small and Medium Business Industries

0.0 (0)
1   0   0   0
Write Review
NiYO Solutions Inc., a Fintech company has introduced NiYO Payroll Solution for employees working in SMBs. The solution comprises of a corporate portal (for employer), payroll card and a mobile app (for employees). The Payroll solution has been launched by NiYO to curb the problem of distributing cash to daily and monthly wage earners in these industries. Since demonetisation, NiYO has seen a 500% increase in demand for the solution and has already signed up more than 100 SMBs. Employee Payroll Solutions for SME and MSMEs have seen very little innovation in the past several decades with banks not focusing on these customers because of the low value of salary credits.

Even the payroll systems for processing & disbursing salaries in these industries are mostly rudimentary or manual in nature. Small and midsized firms have always followed the traditional method of manual/semi-manual salary processing and paying salaries by cash to their employees. This causes problems to the employer and employee alike. The employer has to always keep heavy cash in hand and the employee is denied access to digital payments & formal banking. With India steadily moving towards a cashless economy, it is imperative that all salaried employees have the access to digital transactions and are also linked to formal banking systems to enjoy the fruits of a high GDP growth. 

Looking at these ground realities, NiYO sensed an unique opportunity to create value for employers and employees and rolled out the NiYO Payroll Solution comprising of corporate portal for salary disbursal, payroll card to receive salary and spend on ATM/POS/Online and a mobile app to track transactions and do basic banking functions like fund transfer etc. With the NiYO Payroll Solution, it takes 30 seconds of eKYC for each employee to be on boarded to the system through Aadhaar. Once issued, the Payroll Card can then be used at any MasterCard/VISA/RuPay terminal (~1.5 million), any online merchant and at any ATM to withdraw cash. The card saves employers from the hassle of distributing cash and allows for the salary to be credited through NEFT/IMPS via the easy to use NiYO Corporate Portal.

The card has a validity of 5 years and can be reloaded any number of times. On the other hand, the card provides ease to employees as it can be used anywhere safely with no minimum balance charge, money can be transferred/ added/ received easily with no charges. In addition to all the benefits, users can also request for another card for their family members. Below are some key features of the Payroll Card: 

  • NiYO App - Makes mobile banking easy
  1. Helps in checking balance and transactions through app
  2. Enables transfer of funds/ bill payments and EMI/ SIP payments
  3. Service via chat on app
  • Next generation security for employees/ employers
  1. ATM pin can be changed through mobile app
  2. Card can be locked/ unlocked/ blocked through mobile app
  3. Pin required for every transaction
  • Niyo corporate portal
  1. Load salaries 24/7
  2. Onboard new employees
  3. Print statements/reports
  4. Manage advances


User reviews

There are no user reviews for this listing.
Already have an account? or Create an account
Movie Reviews

Race 3 Hindi Movie Review, Rating -2/5

Jun 15, 2018 72
Bottom Line: Close to reality, Salman races on screen this time to kill the audience.

Sammohanam (2018) Telugu Movie Review, Rating -2.5/5

Jun 15, 2018 86
Bottom Line: A light-hearted take on the life of actresses, which ends as a fair attempt,…

Naa Nuvve Telugu Movie Review, Rating -2.25/5

Jun 14, 2018 89
Bottom Line: Tamannaah alone shines in this visually and musically appealing lackluster…
Restaurant Reviews

The Newly Leaked Secrets to Ideas for a Personal Narrative Essay Uncovered

Jun 13, 2018 45
Default Image
Lots of my smart friends experienced similar issues. It's an intricate aisle of the…

Buyessay . net scan: number one website to get research papers swiftly and duly

Sep 15, 2017 55
Default Image
Have you been concerned on how to do hard educational works? provides you…

Essay Composing Assistance at a Glance

Jun 06, 2018 75
Default Image
The absolute top and famous authors from all around the planet produced a lot of…
Latest Yellow Pages
Mar 06, 2018

Andhramess Allen

Andhra Mess– Is the most popular South Indian Restaurant situated in Allen, US. We have…
Dec 04, 2017

Best deals on International flights is an innovative online travel company that enables its customers to book…
Sep 05, 2017

Roy Photography

Experienced in Indian and South-Asian Weddings and event photo and video services. Speaks…
Aug 02, 2017

Pista House

Pista House is known for meeting the diverse needs of customers thanks to its use of best…
Latest Classifieds
Jun 19, 2018

Enjoy a Healthier Life with our Organic & Natural Food Range

MyHomeGrocers is leading online store that offers 100% natural & organic products at best…
Jun 15, 2018

Say No To Heavy Shopping Bags Shop all Your Grocery Needs Online

Say No To Heavy Shopping Bags Shop All Your Grocery Needs Online
Jun 12, 2018


Jun 04, 2018

DEVOPS Training Schedule (Weekend Batch).

DEVOPS Training Schedule (Weekend Batch). Training Type: Online Live Interactive Training…
Default Image
Feb 03, 2018

DevOps Online Training Live Demo Feb 05, 2018(Monday) @7.00am IST

DevOps Online Training Live Demo Feb 05, 2018(Monday) @7.00am IST For USA Students Feb…
Default Image
Jan 31, 2018

selenium Training - learntek

Learntek: Selenium Training Schedule. Course Title: Selenium Training. Training Type:…
Jan 25, 2018

SAP Simple Finance Training by SAP Certified Industry Experts

We provide services throughout USA, UK, Australia,UAE, Canada, Saudi Arabia, New Zealand,…
Jan 04, 2018

Tableau Training Institute in Noida

Tableau computing device is a business intelligence andinformation visualization tool…