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How your employer could be helping you beat the Janu-worry blues - Bryan Habana

6 January 2022 8:20 PM
Tags:
The Money Show
Festive Season
Bryan Habana
Personal finance
Janu-worry
december salary
Earned Wages Access
EWA
Paymenow

Ray White talks to former Springbok Bryan Habana, co-founder of the Earned Wages Access platfom Paymenow.

The fun of a Dezemba break often ends in the tears of the Janu-worry blues.

Many people get paid early in December and come the first month of the New Year, they're in big trouble after blowing their money and having to take on loans.

© dmitrydemidovich/123rf.com

The Money Show interviews former Springbok Bryan Habana, co-founder and Head of Business Development of the Paymenow Group.

The Earned Wages Access (EWA) platform allows employees access to already earned wages.

It's been an interesting three-and-a-half years since retiring... I've been dabbling in the entrepreneurial space... Paymenow started up in January 2020, trying to disrupt a very vicious payday micro-lending environment...

Bryan Habana, Co-founder and Head of Business Development - Paymenow Group

... but also giving employees their dignity and giving them access to a percentage of money that they effectively worked really hard for.

Bryan Habana, Co-founder and Head of Business Development - Paymenow Group

Habana explains how employers can help their staff manage the downside of January with the help of a platform like Paymenow.

Yes, there's been an early payday in December and money spent on festivities, on travel... but now their employees have other financial worries... and that end-of-the-month January pay cheque just seems so far away...

Bryan Habana, Co-founder and Head of Business Development - Paymenow Group

Paymenow allows them as employers to be in control of the ability to give their employees access to a percentage of their already hard-earned wages and hopefully avoid going to the micro-lenders, the loan sharks...

Bryan Habana, Co-founder and Head of Business Development - Paymenow Group

With access to 25%... if you earn R30,000 a month, come the tenth day of the month you have actually worked for R10,000... you could then get access to R2,500... at almost ten times cheaper than you would get a financial institution or micro-lender...

Bryan Habana, Co-founder and Head of Business Development - Paymenow Group

While the Earned Wages Access concept is still relatively new in South Africa, more and more employers are starting to see the benefits Habana says.

It helps employees worry less about their financial situation, gives them their dignity back and puts less burden on many of the manual processes that are in place within organisations - Paymenow fully automates that.

Bryan Habana, Co-founder and Head of Business Development - Paymenow Group

Listen to the conversation in the audio clip below:


This article first appeared on CapeTalk : How your employer could be helping you beat the Janu-worry blues - Bryan Habana




6 January 2022 8:20 PM
Tags:
The Money Show
Festive Season
Bryan Habana
Personal finance
Janu-worry
december salary
Earned Wages Access
EWA
Paymenow

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