PaySpace, a payroll processor in Africa and the Middle East, on Tuesday rebranded as Deel Local Payroll. This move follows its acquisition by Deel, a global payroll giant, in a deal reportedly worth around $100 million in 2024.
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Deel expands reach via PaySpace tech integration
The rebranding is more than just a name change; it marks a strategic integration of PaySpace’s robust technological infrastructure into Deel’s global ecosystem. This integration allows Deel to tap into new markets, leveraging PaySpace’s expertise in Africa and the Middle East.
Deel Local Payroll maintains adaptable payroll solutions for startups and large companies like Heineken, Coca-Cola, and Puma Sports. The platform supports real-time payroll processing, faster Gross-to-Net calculations, and simplified regional payroll processing.
“We set out to create world-class payroll management that served all markets, drawing inspiration from our African customers and leveraging the latest cloud technologies,” says Bruce van Wyk, CEO of Deel Local Payroll. “The rebranding to Deel Local Payroll allows us to integrate more deeply with Deel’s global platform, positioning us for continued success and growth. This move builds on the strong foundation we’ve already established”.
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Deel’s local payroll subsidiary enhances global offerings
Deel Local Payroll operates as an independent subsidiary, complementing Deel’s global payroll offerings with its advanced payroll engine. This engine now powers Deel’s localised Employer of Record (EOR) and Global Payroll (GP) products in numerous countries, including the UK, South Africa, Canada, and the UAE.
The platform features automatic legislative updates, seamless integration with business applications, and extensive automation tools, ensuring a seamless transition for existing customers.
The Pacey WhatsApp-based employee self-service bot continues to empower employees with easy access to payroll information. Despite the rebranding, Deel Local Payroll maintains the same dedicated team, support, and processes, ensuring no disruption to existing customer contracts and systems.