Payroll is the foundation of Paycom’s offer: the company describes itself as a payroll-first human capital management platform in which HR, time and labor, talent management and compliance sit in the same database.[9] This article describes the products that move money or compute pay. They matter to a licence manager for two reasons. First, they are the products around which most commercial statements on the Paycom site are made, including the few statements about fees. Second, several of them introduce third parties, such as a card issuer or a payroll processor in another country, whose terms are not part of the Paycom client agreement.
Editions
Paycom names each payroll product separately and sells none as an edition. The products and their stated roles are as follows.
| Product | Stated role | Catalog row |
|---|---|---|
| Beti | Employee-guided payroll that starts automatically each pay period | Beti |
| Everyday | Daily pay or pay by request of earned wages | Everyday |
| Paycom Pay | Paychecks issued on Paycom’s bank account | Paycom Pay |
| Vault | Visa payroll card for employees | Vault Visa Payroll Card |
| Payroll Tax Management | Debit, remittance and filing of payroll taxes | Payroll Tax Management |
| Garnishment Administration | Calculation, payment and recordkeeping for garnishment orders | Garnishment Administration |
| GL Concierge | General ledger reports for import into accounting software | GL Concierge |
Beti
Beti is described as an employee-guided payroll experience. “Beti automatically starts payroll on the first day of the pay period, pulling employee info from timecards, expenses, PTO, punch change requests, changes to tax and benefits deductions, merit transactions and more.”[1] Employees preview and approve their pay in the Paycom mobile app before submission, but “employees do not have the ability to change their pay rate”.[1] Beti is stated to be available in the U.S., Mexico, Canada, the United Kingdom and Ireland.[1] The setup includes establishing a schedule of recurring payrolls, and further schedules can be added.[1]
The one fee statement on the Beti page concerns terminations. Because some states require a final pay stub before the next payroll cycle, Paycom allows a same-day, one-off, termination-only payroll, and “you can process a final payout without incurring additional base or service fees”.[1] The phrasing implies that base and service fees apply to ordinary payroll runs, but the page does not give their amounts or basis.
Metrics
The Pay period is the cadence unit of Beti, and the Payroll cycle is the cadence unit of Paycom Pay, which drafts “the entire net payroll, taxes and fees” from the client’s account “once (and only once) each payroll cycle”.[3] Neither is described as a billing unit. A licence manager should record the number of pay schedules, employees per schedule and entities per schedule, because they are the quantities most commonly used by payroll providers to price services, but the Paycom pages do not confirm this.
The Everyday payout is a transaction unit. Everyday lets employees “access their daily earned wages as they are available”, by direct deposit or on a Vault card, or by request.[2] The Vault card is a cardholder unit: Vault is “exclusively offered to employees of businesses using Paycom” and issued by The Bancorp Bank, N.A. pursuant to a license from Visa U.S.A. Inc.[4] The Employer identification number (EIN) appears in two places: the implementation page says that all HCM data, including multiple EINs, flows through one database,[9] and GL Concierge “can combine reports across multiple EINs”.[7]
Counting and floors
Everyday has the most detailed counting rules. Taxes, benefits and deductions are withheld before wages are released: “Everyday automatically withholds the proper amounts for taxes and deductions, plus 10% to account for irregular deductions, like meals whose totals vary”, and the 10 percent default is configurable by the employer.[2] Cashout requests must be made by 11 a.m. Central to be included in that day’s transaction.[2] For daily payroll, hourly employees’ timecards must be approved daily by the employee and the manager.[2]
Eligibility acts as a floor. After opting in, an employee becomes eligible for a first payment at the start of the next pay period; for companies switching to Paycom the employee becomes eligible at the start of the third pay period under the software.[2] An employee can enrol only with a Vault card or a bank account on file for direct deposit.[2] The Vault card has its own eligibility rules: it is available to U.S. citizens or legal residents aged 18 or older who work for a participating employer, are enrolled in Employee Self-Service and have a valid Social Security number, and an employer must offer split direct deposit for only part of wages to go to the card.[4]
Paycom Pay contains a term in days. If checks are not cashed after 180 days of their issue date, the client is “automatically refunded and notified”.[3] Paycom Pay also files federal and state payroll taxes.[3] Payroll Tax Management is a related service in which Paycom collects payroll taxes through debit and remits them by their due dates, and files quarterly federal and state returns online; the client remains responsible for distributing any paper Forms W-2, which are mailed to the employer.[5]
Garnishment Administration shifts work to Paycom staff. “Once you submit an order through our secure uploader, our team of garnishment experts handles the rest”, including calculation, payments and recordkeeping from receipt to expiry.[6]
Virtualization and partitioning
Not applicable. These are hosted services and card and bank arrangements. No processor, core or virtual machine metric applies.
Cloud and BYOL
No bring-your-own-licence rule applies. The geographic footprint of the payroll service is the relevant boundary. The Global HCM page states that Paycom runs local payroll processing in Canada, Ireland, Mexico and the United Kingdom, and that for other countries it “works with approved third-party payroll processors to deliver the same in-app experience”.[8] A client with staff in other countries therefore may deal with a third-party processor whose contract and fees are separate or passed through; the public page does not say.
Programs
The Everyday employee fee statement is the clearest commercial program in this group. The page states that the ability to get paid early through Everyday “is offered at no fee to employees”, and a footnote adds that certain fees, terms and conditions are associated with the use and maintenance of the Vault card and refers to the Cardholder Agreement at myvaultcard.com.[2] The program row is Everyday no-fee wage access for employees. A reader should note that the statement protects employees from fees for wage access, not the employer from product fees. Whether the employer pays a fee per Everyday payout or per enrolled employee is not stated.
The Vault page states that the card has no activation fee, monthly fee or minimum account balance, and tells readers to see the Cardholder Agreement for a full list of fees and limits.[4] For an employer the important point is that card terms form a contract between the cardholder and the issuer, not between the employer and Paycom.
Out of scope
This article does not cover time clocks, asset management or learning (see the add-ons article), or AI and data hosting (see the AI article). It does not cover fees charged to employers for any payroll product, which are not published. It does not cover regulatory status of earned wage access or payroll cards, which varies by jurisdiction and is outside the vendor documents the wiki cites. It does not evaluate the efficiency percentages that Paycom attributes to commissioned third-party studies.