A Johannesburg-based financial start-up says it can give employees instant access to their earnings for each day worked instead of having to wait for the end of the month. This is in an effort to stop predatory payday loans,instant access to their earnings for work they have already done.
For now, the company has about 6,900 employees registered, having signed up a number of businesses, including three Spar supermarkets in KwaZulu-Natal on its platform since being launched in February. Ellis said they decided to go this route as these are the most widely used messaging platforms in SA, saving users from having to download an extra app to their device. One of the concerns cited by employers for giving early access to funds earned is how that money is spent.
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