eToro has announced a partnership with workforce payments company Papaya Global to launch a payroll-linked investing service. The companies said the offering is designed to allow workers to move money from their salaries into investment accounts at the time they are paid.

The announcement follows eToro's recent platform update, which included a redesigned mobile app, artificial intelligence-powered investing features, expanded trading tools, crypto self-custody services, and a refreshed brand identity.

Earlier this year, the company said it was exploring acquisitions of wealth technology firms and considering a banking licence as part of a broader expansion into payments and financial services.

eToro Links Payroll Payments with Investing

The new service, called eToro Work, is powered by Papaya Global's Banco platform. It combines eToro's trading and investing platform with Papaya Global's workforce payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term infrastructure. According to the companies, the service is intended to connect payroll payments with investment access and financial education.

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The companies said the initiative is based on the idea that employees should be able to begin investing as soon as they receive their salaries by creating a direct link between earnings and investing.

Yoni Assia, Chief Executive Officer and Co-founder of eToro, said the partnership supports the company's long-term objective of expanding access to financial markets. He said many people "never get a natural moment to start" investing and added that the service is designed to reach workers "the moment they're paid" and help them "grow their wealth over time."

Single Service Manages Multiple Employee Earnings

Papaya Global said its Banco platform is intended to support the next stage of workforce payments by combining payroll with wealth management tools.

Eynat Guez, Chief Executive Officer and Co-founder of Papaya Global, said, "Salary should be the beginning not the end of workers' financial experience." She said the partnership would help bring that approach to workers globally.

According to the announcement, the service is planned to cover multiple forms of employee compensation, including salaries, bonuses, stock options, restricted stock units, and benefits. The companies said this would allow workers to view and manage different types of earnings through a single service.