PayCaptain & Plain Numbers To Boost Employee Financial Security

Landmark partnership will equip individuals to get more from their payslips and manage money better.

LONDON, UNITED KINGDOM, September 15, 2022 /EINPresswire.com/ — PayCaptain has become the first ever payroll provider to partner with Plain Numbers – in a programme designed to give thousands of workers the confidence to understand their payslips. As the cost-of-living crisis and soaring energy prices cast a shadow over family finances, getting to grips with income and outgoings has become a challenge for millions of UK adults.

The new three-year collaboration between the award-winning Cloud-based employee payroll and payments system and Plain Numbers – a social enterprise helping businesses communicate more effectively with customers who struggle with financial literacy – is designed to ensure employees understand their personal finances better. The partnership is designed to give working people access to tools and strategies to make more informed spending and saving decisions – an integral element in achieving financial security.

The Government’s Skills for Life Survey revealed that half the UK’s adult population have the everyday maths skills of a primary school-aged child.[1] In addition, more than a third of adults (39%, or 20.3 million) were found to lack confidence in managing their money.[2] Meanwhile, too many employees aren’t given the support they need to understand their finances and navigate a ‘money emergency’.

PayCaptain’s innovative and award-winning app enables employees to have greater control of how, when, and where they receive their pay. It makes understanding payslips easy, with practical and personalised money management guidance – as well as payment splitting, emergency cash, employer match-saving incentives, and tax code and benefit-checking features.

Simon Bocca, Founder and CEO of PayCaptain, said: “Employed people have settled for too long with payroll that doesn’t meet their needs. Partnering with Plain Numbers is just one way we can improve financial security for thousands of workers. PayCaptain will ensure that people receive informative and engaging payslips and an app enabling them to make great decisions about what best to do with their money.”

Anna Buckle, PayCaptain’s Head of Employee Experience, said: “Poor numeracy is the most common consumer vulnerability, with around 20 million working adults impacted daily. We want to build a payroll solution that is easy for people to use and enables them to confidently review their pay and decide what they want to do with their hard-earned cash. We’re delighted to be alongside the FSCS, Aviva and More Than in the Plain Numbers community.”

Mike Ellicock, Co-Founder & Chief Executive of Plain Numbers, said: “We’re delighted that PayCaptain is the first payroll tech company to become a Plain Numbers partner. This partnership has huge potential to further enhance PayCaptain’s innovative payroll solution by presenting numbers in a way that more people can understand. With the cost of living crisis upon us, people understanding their earnings has become more significant than ever. We’re excited to start moving forward with such important work.”

[1] https://www.fca.org.uk/publication/occasional-papers/infographicop8.pdf
[2] https://www.fincap.org.uk/en/articles/key-statistics-on-uk-financial-capability

Simon Bocca
PayCaptain
+44 7793 276759
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