Coverflex as leverage for benefits

In Portugal since 2019, after the acquisition of a startup and going through a rebranding process, Metyis had a platform to pay for meal allowance only. And, despite the fact that most of Metyis' employees never had access to a solution like Coverflex's before coming across Wallet, the need for digitisation and simplification of processes spoke louder when it came to evolving towards a more personalised response to the challenge. “The prospect of moving away from a more traditional and classical logic made our employees excited. The first major advantage we saw with Coverflex was the use of the VISA network, which expands the availability of Meal card options. So, just because of this, it is a gain for us to make this partnership with you. This also means a cost reduction for the top-up of the cards, for which Coverflex doesn't charge”, she clarifies.

The first time he heard about Coverflex was via LinkedIn. At the time, the solution seemed “more practical and simple” to David Pedro, manager of Metyis. “In what comes to payments for services and products that actually take advantage of tax benefits that can provide greater net value for the employee, the offer is quite complete, and makes it possible to explore these advantages”, he adds.

And, although the majority of Metyis' employees mostly use the Meal Card via Coverflex, the adoption of the platform has accelerated other dynamics. “Coverflex was a catalyst in the process of including more benefits. And an engine to integrate these services in a more centralised way. The fact that it is digital makes it easy to use - with a few clicks people know where they can spend, for example - and transforms management. For the user and for the company, the intuitive way it works pays off”, he underlines.

Expenses related to Health & Well-being and Gym & Fitness are among the most used benefits in the team. It is also in the Gym & Fitness field that the team applies most of the used discounts available on the platform.

“Coverflex's wide range of benefits allows the employee to request that the amount coming from prizes or other perks is credited under benefits. This means the employee is able to make use of the benefits balance without incurring a risk - or incurring a reduced risk - of having an amount “stuck” in the card. The fact that the employee would rather earn said amounts this way is a good indication that there's value in the card”, underlines David Pedro, adding that his favourite benefit is Coverflex Childcare. “I am able to channel funds towards the kindergarten payment, through the Coverflex Childcare voucher. This increases the value of this process and the card for me, due to the fiscal framework”.

“Wallet is active for us, but it doesn't have the same use and movements. I believe that it will be a gradual process and that, as we go forward, we will have more movements and funds available at Coverflex. This will motivate another type of use by employees”, emphasises Filipa Almeida.

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This story was first published on the Coverflex blog in April 2021.