Paycom Europe Limited, a subsidiary of Paycom Software, Inc. (NYSE: PAYC), a leading provider of cloud-based human capital management software, has secured authorization as a Payment Institution (PI) from the Central Bank of Ireland (CBI). This regulatory milestone opens new growth opportunities for Paycom throughout Europe.

With PI status, Paycom Europe Limited is now positioned to expand its proprietary single-database payroll software across Ireland and other European Economic Area (EEA) Member States, subject to regulatory notifications. Notably, only 26 companies hold this esteemed authorization from the CBI.

Bob Foster, Chief Financial Officer of Paycom, stated, “This authorization underscores our commitment to upholding the highest regulatory standards of compliance and security in the European market. As Paycom expands its global footprint, we remain dedicated to simplifying and automating complex processes and driving operational efficiency for our clients.”

Unlike many global payroll providers that rely on third-party integrations, Paycom’s CBI authorization allows it to directly process payroll for clients in EEA Member States using its innovative payroll platform, Beti®. This automated payroll tool leverages live employee data to initiate payroll cycles, automatically detects errors, and guides employees to resolve issues before payroll submission, delivering a seamless payroll experience.

The CBI regulates payment institutions under the European Union (Payments Services) Regulations 2018 (PSR). Firms authorized as PIs must demonstrate operational viability, financial stability, and regulatory compliance. Paycom’s approval reflects its strong commitment to providing secure and compliant payroll services.

Currently, Paycom offers its solutions across the U.S., Canada, Mexico, the U.K., and Ireland. This follows the 2023 launch of Global HCM™, enabling companies to manage domestic and international workforces across more than 190 countries in nearly 20 languages and dialects.

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