OneSource Virtual Joins Highline’s Payroll Payments Network to Offer Improved Employee Financial Health and Well-being Solutions
DALLAS – Aug. 21, 2023 – Leading provider of services for Workday, and an innovator of extensible applications built on Workday technology OneSource Virtual (OSV), recently announced a first of its kind partnership with Highline, a fintech company transforming payments to benefit consumers and billers alike. This collaboration will enable OSV customers to further improve the financial health and well-being of their employees with Highline’s revolutionary new payments network designed to simplify consumer finances between pay day and bill due dates.
“One of our core missions is to deliver innovative solutions that drive employee financial wellness in the U.S. market,” explains John Bax, CFO of OneSource. “Partnering with Highline is a natural extension of our existing product suite enabling us to expand our mission to include better automatic bill payment with built in budgeting, access to lower cost financial products and the ability for employees to save money as a result. This builds upon our current solution suite, including myFlexPay, which supports organizations by offering on-demand pay to their employees and from a more recent release, myFlexSpend – an enhanced consumer directed health (CDH) solution providing streamlined and intuitive tax-advantaged accounts.”
A recent report from LendingClub and PYMNTS suggested that as many as 60% of adults in the U.S. currently live paycheck to paycheck. Highline is taking the concept of open banking with account-to-account payments and applying it to payroll, creating a richer payment experience that solves this challenge facing consumers.
Highline’s Pay by Paycheck enables bill payment directly from consumers’ paychecks to avoid missed payments and help improve their credit history as well as expand access to lower cost, financial products and services. Bypassing traditional banking and payment rails, this new way to pay helps consumers mitigate late fees and penalties, including repeat debit attempts from their bank accounts that can result in costly overdraft fees.
“Consumers need better tools to manage their finances and there’s a big misalignment between their payday and the due dates of their bills,” said Geoff Brown, founder and CEO of Highline. “With Pay by Paycheck, recurring bills can be more easily and reliably automated while improving consumer control over their money. This earns discounts based on the work people do and naturally helps them manage a budget.”
“This lower cost alternative payment method provides a greater level of comfort regarding repayment for billers,” said Brown. “Billers present Highline Pay by Paycheck as a better alternative to ACH and card payments. They do so because it dramatically improves payment rates and reduces their credit losses and customer churn.”
Highline’s Pay by Paycheck also allows consumers to spread bill payment across their pay days, avoiding large, lump sum payments. With its “Pay as You Earn” feature, consumers can make partial payments from each paycheck to participating billers, enabling them to pay down loans earlier and minimize interest. Additionally, Pay by Paycheck offers “Pay on Due Date” to push the total amount due to billers on the billing due date.
“We’re excited to be partnering with Highline to deliver these benefits to our customers’ employees as well as our ongoing collaboration to innovate new products and features that continue to improve employee financial health and well-being,” stated Bax.
Geoff Brown shared in the sentiment, “Highline is very grateful to OSV for building such a deep partnership with us. It’s only together that we are able to create such a brilliant experience for both consumers and billers alike.”
ABOUT ONESOURCE VIRTUAL
OneSource Virtual (OSV) is the Workday partner that has helped more than 1,300 companies with everything from deployment to maintenance to payroll and more—all to make the day more doable. Founded in 2008, OSV pioneered Business Process as a Service (BPaaS) and has become the leading provider of automated solutions for organizations of all sizes using Workday, delivering services with unparalleled choices, unwavering commitment, and uncompromising care. OneSource Virtual’s global headquarters is located in Dallas, Texas, with additional locations across North America and Europe. OneSource Virtual: let’s make the day more doable. Find your company’s solution at www.onesourcevirtual.com.
ABOUT HIGHLINE
Highline is an award-winning payments platform automating bill payment directly from consumers’ paychecks delivering a smarter way to pay and get paid. Consumers receive better automated bill payment with on-time payments, every time, helping them improve their credit history and keep more of their money. With Highline, billers and lenders offer Highline’s Pay by Paycheck to significantly reduce missed payments and defaults, enabling them to extend lower cost financial products as well as to extend credit to more consumers. Payroll providers partnering with Highline promote greater financial wellness for their employees at absolutely no cost to them or their employees. Highline Pay by Paycheck, it’s just a smarter way to pay. Learn more at https://highline.co.
Media Contact:
Derek Howard
William Mills Agency
