Prezzo taps Wagestream tech for furlough pay move

Prezzo has worked with Wagestream on a service that allows staff on furlough to receive their pay early.

The restaurant chain has 3,000 staff across 180 UK outlets.

Wagestream’s new solution designed for the Coronavirus Job Retention Scheme means it will pay furloughed workers 50% of their accrued furloughed pay on demand. This was previously available to a third of the company’s staff, all occupying front of house roles.

Wagestream - in partnership with Fourth - allows staff to draw down, or ‘income stream’, a percentage of their earned wages any day of the month for a flat £1.75 fee, without impacting employers’ cash flow. There are no loans involved and therefore no interest is charged.

“We are currently doing everything we can during these difficult times to support our people whilst they are furloughed,” says Jacqueline Rouse, People Director, Prezzo UK.

“Wagestream is a really great way of being able to provide that support by giving our people access to their pay earlier than they would otherwise receive it and helping to ease their money worries as much as possible. It is extremely simple to use and the team are a pleasure to work with – they care as much as we do.”