The Freelancer and Contractor Services Association (FCSA), the UK’s leading trade association for professional employment services, has agreed a partnership with Modulr, which specialises in providing flexible payments technology to businesses, enabling faster, cheaper and easier payments.
The partnership will see Modulr’s flexible payments technology, along with on-demand business account opening and customisable payment rules, support scalable growth while helping FCSA organisations reduce the time it takes to pay contractors from three days to almost instantly.
Commenting on the new partnership, Modulr’s CEO Myles Stephenson said: “The payments environment is an increasingly complicated landscape and recruitment payment systems were not designed for the way we now do business. Our mission is to stop payments from being a barrier to growth for businesses and to help them to thrive. We are therefore delighted to be teaming up with the FCSA as an official business partner and help their members to better serve the freelancers and contractors they support.
“The FCSA is an important organisation and one that provides extremely valuable support for professional employment services in the UK, particularly in terms of encouraging compliance and credibility. We share the same ethos so this partnership is a great opportunity for us to work together to improve payments processes for umbrella companies, accountancy services and payroll providers across the UK.”
The FCSA, which represents professional employment services such as umbrella employers and accountancy service providers, was set up in 2008 to set the benchmark for those working in the industry. It works tirelessly to protect contractors and freelancers and drive up standards in a historically unregulated industry.
Julia Kermode, chief executive of the FCSA added: “Modulr clearly understands the financial needs and challenges that our members face so I am pleased to welcome them on board as a new business partner. Our industry is going through significant change so it is important for our members to manage payments efficiently. By working with Modulr our members can be assured of a first-class solution and service that will help them grow.”