Keeping your team connected and engaged no matter where they are, Wallit gives employees the freedom to choose wellness and lifestyle options that are right for them while eliminating the administrative burden for your HR and Finance teams.
Wallit empowers teams with the ability to offer employee benefits that fit your company's culture, your individual employee's lifestyles to power employee engagement and productivity, all without the hassle and administrative burden of managing an automated expense and perk program.
Allowances examples that companies are using their Wallit dollars for are: food, meal delivery, fitness, mental health, work-from-home essentials, family, child or pet care, mobile phone, and many more. Control and choice are the keys to high activation rates and ongoing usage.
How it works
An employer-funded monthly allowance is stored in a member's Team Allowance Balance (aka wellness balance) along with any one-time rewards and spot bonuses for birthdays, anniversaries, staff appreciation, special achievements, etc.
Once Wallit validates a qualified purchase made with a debit card linked to Wallit, the reimbursed allowance amount moves from the member's Team Allowance Balance to their Wallit Balance.
Both employer-funded reimbursements and merchant-funded cash back are deposited into a member's Wallit balance. We refer to these as card-linked reimbursements (CLR) and card-linked offers (CLO), respectively.
Members can either leave those funds in their Wallit balance for savings (and connect to a savings goal…think of it has squirreling it away so you don’t spend it) or move those funds to one of their connected checking or savings accounts.
Where wellness happens.