Swap, a financial technology company focused on banking as a service, has expanded its portfolio into credit with the launch of its private payroll loan solution. The announcement was made during CONARH, the human resources event held from August 18 to 20, where the company presented its new platform version. The Benefits Platform 2.0 unifies benefits, corporate expenses, and credit into a single ecosystem for the company's business clients.
A Strategic Move Into Credit
Swap had previously concentrated on money flow management, with benefit cards as its core product. The move into credit had been signaled by the company in late 2025 and is now formalized with the private payroll loan product. According to Doug Storf, Chief Executive Officer and founder, credit was the missing layer in a portfolio that already included cards, banking, risk, compliance, and integration interfaces.
How the Payroll Loan Module Works
The product allows benefit operators to offer payroll-deductible credit to their user bases without building a credit operation from scratch. Workers with formal employment contracts can simulate and contract the loan inside the same application they already use for corporate benefits. The solution will enter into operation gradually, starting with pilot clients, and the borrowed amount is released directly into the user's digital account.
Platform 2.0 and New Revenue Streams
The new platform version integrates three modules: private payroll loans, a digital benefits marketplace, and a white label portal for benefits and corporate expense management. This expansion arrives as new rules for the Worker Food Program reduce traditional revenue sources for benefit operators. The modules are designed as monetization fronts built on existing user bases without additional customer acquisition costs.
Marketplace and Corporate Expense Management
The marketplace module enables employees to purchase digital gift cards from within the app using their available benefit card balance. It also increases purchasing power for users without credit cards, such as those who want streaming subscriptions. The white label portal allows operators to offer benefits and expense management under their own brand with a modernized interface and simplified user journeys.
Unified Operations and User Experience
For benefit operators, activating any module is done through configuration without proprietary development, allowing new product lines to reach the existing user base in a few weeks. All management, from company and employee registration to card issuance and portfolio control, takes place in a single administrative portal. For employees, the experience also converges in one application where they can shift between benefits and corporate expenses, buy gift cards, and apply for payroll loans with funds released to their digital wallet.
Industry Context and Growth Ambitions
Private payroll loans were previously restricted to companies with bilateral agreements between banks and human resources departments. The Crédito do Trabalhador program, launched by the Brazilian government in March 2025, opened the modality to the entire private sector and gave workers access to a historically cheaper credit line. Swap aims to triple its transacted volume by 2028 after growing more than 60 percent in 2025 and projecting around 50 percent growth in 2026.
Swap serves more than 150 partners and has processed over 425 million transactions across cards and banking. The latest launch demonstrates its strategy of providing technological, regulatory, and funding infrastructure so clients can embed financial products without building their own operations. By combining benefits, expenses, and credit in a single environment, the company is positioning itself as a central ecosystem for corporate financial services and as a long term partner for benefit operators.