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 Employees can cash out a proportion of their earnings, which is withdrawn from their paycheck at the end of the period.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
Useful links
Project summary
- Organization Paymenow
- Location Afrique du Sud
- Creation date 09/06/2021
- Project category Smart-economy
