Paycom Europe Limited has scored an important win by receiving a Payment Institution (PI) license from the Central Bank of Ireland (CBI). This opens up exciting growth opportunities for Paycom across Europe and enhances its payroll services.
Key Points
- Paycom Europe Limited is now recognised as a Payment Institution (PI) by the CBI, allowing them to expand their payroll software services.
- This licence enables Paycom to provide its patented payroll tool, Beti®, using live data for more efficient and accurate payroll processing.
- Only 26 companies currently hold this PI authorisation from the CBI, marking Paycom’s strong entry into the European market.
- The CBI’s approval showcases Paycom’s commitment to regulatory compliance and security for payroll services in the EEA.
- Paycom’s global payroll capabilities now include operations in Ireland along with the U.S., Canada, Mexico, and the U.K.
Why should I read this?
If you’re involved in payroll or HR tech, this update is a big deal! Paycom’s licence boosts their capacity to operate in Europe seamlessly, which means better services for clients and a competitive edge in the industry. It’s worth a look to see how these changes might affect international payroll operations and compliance moving forward.