Paymenow

Paymenow

A financial wellness and inclusion platform

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    Project description

    Paymenow is a platform for financial wellness and inclusion that provides employees with early access to previously earned pay. The platform encourages saving and supports healthy financial behavior. Employees typically undertake the risk of working upfront and only being paid at the end of the month or other specified term. This inability to access previously earned money frequently creates a financial hardship. Paymenow eliminates this wait by providing employees with real-time access to previously earned earnings via an app that is coupled with the employer’s payroll system. Employees can cash out a proportion of their earnings, which is withdrawn from their paycheck at the end of the period.

    Tags: Fintech

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    Project summary

    Organization

    Paymenow

    Location

    South Africa

    Creation date

    2019

    Project category

    Smart-economy

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